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Riverside Resources Sells Its High Lake Greenstone Belt Canadian Portfolio to Golden Retriever Minerals for Cash and 2% NSR
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2021) - Riverside Resources Inc. ...
About this update from Riverside Resources Inc
[{"type":"text","content":"Riverside Resources Sells Its High Lake Greenstone Belt Canadian Portfolio to Golden Retriever Minerals for Cash and 2% NSRVancouver, British Columbia--(Newsfile Corp. - November 22, 2021) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (\"Riverside\" or the \"Company\"), is pleased to announce the sale of the Company's High Lake Greenstone Belt project portfolio in western Ontario to Golden Retriever Minerals Ltd. (\"Golden Retriever\") for C$125,000, and a 2% NSR. The High Lake Greenstone Belt Property 100% owned by Riverside covers over 230km2 of mineral claims from east of the Manitoba provincial border to near Kenora, Ontario. Riverside staked this greenstone belt in August 2020 (see press release August 17, 2020) as an early stage grassroot exploration project from Riverside's generative efforts. In August 2021, exploration was refined over the area defining 3 zones of priority interests now called: the Royal Project, the Canoe Project, and the Electrum Project. The claims block is roughly 20 km in length and immediately south and parallel to the Trans-Canada Highway providing good exploration access and infrastructure. The province of Ontario is well-known for its world-class gold deposits hosted in greenstone belts that are synonymous with high-grade gold production. Riverside has been focused on building value in Ontario by targeting greenstone belts that show abundant mineralization occurrences with opportunities for future discoveries. Highlights from the three Riverside projects include:The Royal Project contains copper, gold and silver on 6,150 hectares and has defined many base metal occurrences with characteristics suggestive of volcanogenic massive sulfide (VMS) mineralization.The Canoe Project is 4,260 hectares located along the edge of the main pluton near the known Shoal Lake gold deposit which hosts over 350,000 ounces of gold (Inferred and Indicated; 2008, NI 43-101[1] of the KPM total). The area shows noted anomalies at surface and in drill holes of Cu-Zn-Au especially at the contact between the pluton and the metavolcanics. The Electrum Project of 1,800 hectares has shown drill evidence of mineralization including historic high-grade surface and soil sampling as well as drill results yielding 0.9 m at 9 g/t Au (2005). This drill core interval was re-assayed and confirmed by Riverside ...