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Riverside Resources and Centerra Gold Announce Work Program to Select Drill Targets for Glor Project
VANCOUVER, British Columbia, Nov. 01, 2017 (GLOBE NEWSWIRE) -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI), is pleased to announce an up
About this update from Riverside Resources Inc
[{"type":"text","content":"VANCOUVER, British Columbia, Nov. 01, 2017 (GLOBE NEWSWIRE) -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI), is pleased to announce an update of the exploration work being done at the Glor Gold Project (the “Project”) in Sonora, Mexico. Positive results obtained by Riverside’s summer program of geological mapping and rock sampling (up to 14.4 g/t Au) have encouraged partner, Centerra Gold Inc. (“Centerra”), to work up additional geophysical and extensive soil geochemistry surveys designed to focus the selection of drill targets in the central part of the Project. Centerra has been funding exploration at Glor since August, 2016, having entered into an option agreement with Riverside to earn a 70% interest in the Project (see press release, July 26, 2016). The ultimate goal of go-forward exploration and drilling programs at Glor is to discover a gold deposit amenable to open-pit mining with heap leach processing; similar in nature to the multi-million ounce deposits being mined in this same part of Sonora at the El Chanate, San Francisco and La Herradura gold operations. The new exploration work, which has already been initiated, consists of an 850-sample soil geochemistry survey, a detailed ground magnetics survey covering an area of 210 hectares, a second magnetics survey of 80 line-kilometers that adjoins a previously completed survey, and an induced polarization survey of 14 line-kilometers that will be done in the same area as the soil survey and detailed magnetics survey. A full surface and exploration access agreement was recently signed with the leaders of the San Lucas communal lands, or ejido, which covers most of the western part of the Glor Project. In addition, the Project was granted a work permit by the Mexican environmental agency SEMARNAT that allows for drilling and other mechanized exploration work to be done in the targeted areas. Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased with the expanded exploration programs at our Glor Project with Centerra. The gold targets we are defining have large-scale potential and fit the shear zone model that projects at low angles beneath shallow alluvial cover. Our field teams are working closely with senior Centerra geologists and consultants, and we look forward to a second drill program commencing in the near future.” Riversi...