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Riverside Resources Provides Progress Report on Property Portfolio
VANCOUVER, British Columbia, Oct. 18, 2017 (GLOBE NEWSWIRE) -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI), is pleased to provide an upd
About this update from Riverside Resources Inc
[{"type":"text","content":"VANCOUVER, British Columbia, Oct. 18, 2017 (GLOBE NEWSWIRE) -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI), is pleased to provide an update on Riverside-owned projects and upcoming growth plans during the final months of 2017. Riverside enters the fall season with C$4,000,000 in cash and less than 45,000,000 shares outstanding. The Company continues to advance its project portfolio through a combination of self-funded and partner-funded exploration programs, with a catalyst-rich six months ahead. Riverside will be providing a subsequent update on partner-funded exploration results and go-forward plans, including drilling in the near future. The summary below outlines some of the key developments and status updates for the projects Riverside geologists have been working on during the last quarter. Peñoles Silver-Gold Project (“Peñoles”): Peñoles is a 100% owned Riverside Project, which has had substantial previous work and shows strong upside for Riverside. The Project is located in north-central Durango, Mexico and is situated within the Mexican Silver Belt, a globally important, northwest-trending mineral province that extends through north-central Mexico. Past-partners of Riverside conducted drilling campaigns between 2011 and mid-2014 that targeted potentially heap-leachable, disseminated gold mineralization that forms the El Capitan deposit as well as vein-associated silver mineralization at the Jesus Maria prospect area (see Technical Report issued April 16, 2015). Riverside geologists returned to the project in September of this year to re-examine drill cores that delineated the silver resource, particularly those holes that intersected high-grade silver mineralization, including hole JM-14-24 (7.15m @ 988 g/t silver and 1.24 g/t gold within a 22m interval – see press release, June 9, 2014)1. Re-logging of fifteen of the Jesus Maria drill-holes and detailed analysis of previously acquired geochemical data for drill-core samples resulted in the development of a geological model of the Jesus Maria vein system that clearly demonstrates the exploration potential associated with moderately south-dipping high-grade structures which were intersected by JM-14-24 and a few other nearby boreholes. For the estimation of the Jesus Maria silver resource that was done in 2014, the high-grade silver mineralization...