Business
Riverside Resources Repatriates Its Portfolio in the Geraldton Gold Belt in Ontario, Canada
Vancouver, British Columbia--(Newsfile Corp. - December 1, 2021) - Riverside Resources Inc. ...
About this update from Riverside Resources Inc
[{"type":"text","content":"Riverside Resources Repatriates Its Portfolio in the Geraldton Gold Belt in Ontario, CanadaVancouver, British Columbia--(Newsfile Corp. - December 1, 2021) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (\"Riverside\" or the \"Company\"), is pleased to announce the repatriation of its 3 projects in the Beardmore-Geraldton Greenstone Belt (\"BGGB\") in Ontario, Canada. In February 2021, Riverside offered the sale of its portfolio to iMetal Resources Inc. (\"iMetal\"). The Purchase Agreement was contingent upon a series of conditions which were not completed. At this time both parties have mutually agreed to dissolve the transaction and Riverside has now retained 100% ownership of the project portfolio of: Oakes, Longrose and Pichette located in the well-endowed and prolific BGGB. The recovery of these projects occurs at an opportune time for Riverside, particularly since the region is experiencing a renaissance in mining activity. Specifically, the recent launch of construction at the Greenstone Mine (an Equinox Gold / Orion Joint Venture) near the town of Geraldton, which bodes extremely well for Riverside's own projects which are located along the trans-Canada highway and in close proximity to the Greenstone Mine.During the past 7 months Riverside acted as exploration operator completing a summer field program. During the agreement with iMetal, Riverside more than doubled the induced polarization survey (IP) grid as well as conducted a focused sampling and mapping program along the survey grid at the Oakes Gold Project. Highlights of the BGGB portfolio can be found in the press release dated February 10, 2021, which summarizes the previous work done at Oakes and also Riverside's work on the three properties (see Figure 1).Figure 1: Riverside's 3 projects in the Geraldton-Beardmore gold belt shown in red along 90 km trendTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_002full.jpgRiverside's President and CEO, John-Mark Staude: \"Regaining control of this three-project portfolio of further de-risked gold properties near the developing Greenstone Gold Mine provides Riverside with a unique opportunity to advance exploration ourselves. Drill target generation progressed this summer, we have a drill permit in hand and will start with further ex...