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BHP And Riverside Resources Extend Sonora Mexico Exploration with Budget of US$1,600,000 in Funding Focused on Four Copper Properties and Llano De Nogal
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2022) - Riverside Resources Inc. ...
About this update from Riverside Resources Inc
[{"type":"text","content":"BHP And Riverside Resources Extend Sonora Mexico Exploration with Budget of US$1,600,000 in Funding Focused on Four Copper Properties and Llano De NogalVancouver, British Columbia--(Newsfile Corp. - September 6, 2022) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (\"Riverside\" or the \"Company\"), is pleased to report that the BHP - Riverside Exploration Funding Agreement (\"EFA\") will be extended into a fourth year. Building on the past three years of BHP fully funded generative exploration work, the EFA will move into the next exploration phase focusing on five copper projects in Sonora, Mexico (see Figure 1) with a currently approved US$1,100,000 in exploration funding to work on the Llano de Nogal district and US$500,000 in ongoing High Value Work programs in the Sonora Projects for a total so far allocated budget of US$1,600,000 exploration work on the specified properties in the EFA.The approved next phase of work focuses toward property specific funding to advance the current priority projects with derisking exploration, geophysics, geology, geochemistry, mineral titles, and other related mineral exploration aspects to progress towards drilling and drill decisions. Additional expanded budgets for drilling will be added as projects are moved forward to the Operational Phase for the BHP -Riverside EFA. To that effect, Riverside has experience in all aspects of the upcoming work, as Riverside has managed this successfully in earlier exploration alliances with Kinross Gold, Antofagasta, Cliffs, and Hochschild among others. Riverside's President and CEO, John-Mark Staude, commented: \"We are pleased to see our partnership with BHP progress from the generative phase into more focused exploration work across the portfolio of projects we've acquired and advanced to-date. Now that our partnership with BHP is focusing on a priority group of copper projects, the extensive data, relationships and additional targets we've generated within the broader EFA area can also be leveraged and pursued by Riverside. The solid funding support by BHP builds beyond Riverside's strong balance sheet and other projects. The Company owns and anticipates catalysts in the coming quarter.\"This exploration program is coordinating with the technical teams from BHP and Riverside Resources to work together towards programs which are joi...