Riverside Resources Stakes the Compuerta Copper Project in Sonora, Mexico
03 3월 2014 - 10:30PM
Marketwired
Riverside Resources Stakes the Compuerta Copper Project in Sonora,
Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 3, 2014) -
Riverside Resources Inc. ("Riverside" or the "Company")
(TSX-VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99) is pleased to
announce that the Company has staked and is in the process of
acquiring title to the Compuerta Copper Project (the "Project") in
Sonora, Mexico. The Project will now be advanced under the terms of
the Company's copper porphyry exploration alliance (the "Alliance")
with a wholly owned subsidiary of Antofagasta plc. ("Antofagasta").
The Project is located 6 km south of the Washington Cu-Mo deposit
and 75 km SW of the La Caridad Cu-Mo Mine, part of the most
productive portion of the NW Mexico Laramide Copper Belt. Early
results from initial rock chip sampling conducted by Riverside have
returned up to 0.7% copper (Cu) from outcrops and the Company has
received initial approvals from Antofagasta for additional funding
to carry out further exploration and target definition at
Compuerta, subject to execution of an earn-in and option
agreement.
Exploration plans are anticipated to include further geological
mapping and geochemistry, with an airborne geophysical survey and
proof-of-concept drilling as potential next steps. As per the
Alliance terms, Antofagasta will have the opportunity to earn a 65%
interest in the Compuerta Project by completing $5,000,000 in
exploration over the next four (4) years (see news release July 22,
2013).
Riverside's President and CEO, John-Mark Staude, commented:
"We are very pleased with the progress within both of our
strategic alliances with Antofagasta, and look forward to
exploration results in northwest Mexico at Compuerta and in British
Columbia, Canada at Swift Katie in the months ahead."
Property Details:
The 200 km2 Compuerta Project is located 6 km south of the high
grade Washington Cu-Mo deposit (1.2Mt @ 1.8% Cu, 0.106% Mo)1 in the
Cumobabi District of north central Sonora. This District is
positioned close to the productive Laramide Copper Belt, with the
La Caridad Mine (1200Mt @ 0.6 % Cu)2 located 75 km to the NE.
1 1 Simmons, S.F, Sawkins, F.J., 1983, Mineralogic and fluid
inclusion studies of the Washington Cu-Mo-W-Bearing breccia pipe,
Sonora, Mexico: Economic Geology 78, 521-526
2 USGS Scientific Investigation Report 2010-5090-A
Riverside staked the Compuerta property based on successful
generative efforts and follow-up field surveys, which identified
Laramide age intrusive rocks with previously unrecorded copper
mineralization and zoned alteration consistent with a Cu porphyry
system. These surface expressions of a system are located at the
edge of cover and aeromagnetic data and alteration zoning suggest
the target extends under cover to the west. Riverside has collected
rock chip and stream-sediment samples during follow up visits which
now confirm visual indications of a copper system with multiple
samples returning greater than 0.1% Cu and up to 0.7% Cu.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release
pertaining to the Compuerta Project was reviewed and prepared under
the supervision of Riverside's Copper Exploration Manager, Allan
Montgomery, P.Geo, PhD., a non-independent qualified person to
Riverside Resources who is responsible for ensuring that the
geologic information provided in this news release is accurate and
acts as a "qualified person" under National Instrument 43-101
Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused,
proactive gold discoverers with the breadth of knowledge to dig
much deeper. The Company currently has more than $5,000,000 in the
treasury and approximately 37,000,000 shares outstanding. The
Company's model of growth through partnerships and exploration uses
the prospect generation business approach to own resources, while
partners share in de-risking projects on route to discovery.
Riverside has additional properties available for option with more
information available on the Company's website at
www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain statements in this press release may be considered
forward-looking information. These statements can be identified by
the use of forward looking terminology (e.g., "expect","
estimates", "intends", "anticipates", "believes", "plans"). Such
information involves known and unknown risks -- including the
availability of funds, the results of financing and exploration
activities, the interpretation of exploration results and other
geological data, or unanticipated costs and expenses and other
risks identified by Riverside in its public securities filings that
may cause actual events to differ materially from current
expectations. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release.
Riverside Resources Inc.John-Mark StaudePresident & CEO(778)
327-6671(778) 327-6675info@rivres.comwww.rivres.comRiverside
Resources Inc.Joness LangManager, Corporate Development(877)
RIV-RES1(778) 327-6675jlang@rivres.comwww.rivres.com
Riverside Res (QB) (USOTC:RVSDF)
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