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Riverside to Receive US$5,400,000 in Additional Funding from BHP to Advance and Drill Copper Projects in Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2021) - Riverside Resources Inc. &#x...
About this update from Riverside Resources Inc
[{"type":"text","content":"Riverside to Receive US$5,400,000 in Additional Funding from BHP to Advance and Drill Copper Projects in Sonora, MexicoVancouver, British Columbia--(Newsfile Corp. - July 15, 2021) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (\"Riverside\" or the \"Company\") is pleased to announce that an additional US$5,400,000 in exploration funding is being granted to advance four (4) previously generated copper projects as part of the expanding copper exploration program with BHP in Sonora, Mexico (see Figure 1 below). This new funding of at least US$5,400,000 is in addition to the US$1,300,000 allocated for the next generative phase of exploration work, which began two months ago on May 15th, 2021. Program funding highlights for the new project-focused funding are summarized below:Drilling funding has been allocated for the Chuin Project, including an initial 4,500 metres (\"m\") of drilling to test three geophysical centres within the Chinalito Target area.Drilling funding budgeted for the Palofierro Project, including 4,500 m stratigraphic core drilling to cut bedrock beneath post-mineral cover and test for Laramide aged porphyry potential.Geophysics funding designated for a close spaced MT (Magneto-telluric) Survey at Sinoquipe, designed to uncover conductive bodies (i.e., potential porphyry copper deposits) underneath post-mineral conglomerate cover.Geophysics funding budgeted for a broadly spaced MT Survey and geophysical targeting at Peñitas which will lead toward drill targeting.The permitting process for drilling at Chuin and Palofierro is already underway. The MT Survey's at Sinoquipe and Peñitas are expected to commence after contractors are secured and the results from the deep geophysics work has the potential to lead to further drilling programs based on results.Riverside's President & CEO, John-Mark Staude : \"We are pleased to work closely with BHP's geoscientists and their exploration group as the porphyry copper targets we have identified continue to progress towards drilling. These projects and corresponding exploration campaigns expose our shareholders to incredible upside and catalysts that have the potential to create significant value for the Company. Riverside and BHP recently completed a weeklong technical field trip, which culminated with the approval by BHP of this...