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Riverstone has completed an initial NI43-101 resource estimate on one project with indicated gold resources of 820,500 ounces and a further inferred resource of 320,300 ounces.
NEWS RELEASE 13-01 JANUARY 29, 2013
RAB PROGRAM REVEALS WIDESPREAD NEAR-SURFACE GOLD MINERALIZATION AT NORTHERN KARMA
Results confirm six drill-ready targets proximal to proposed processing facility
VANCOUVER, B.C. – Riverstone Resources Inc. (TSX-V; RVS) (“Riverstone” or the “Company”)
reports that initial rotary air blast (“RAB”) drilling over a 180-square-kilometre area north of the Karma
Gold Project (“Karma Project”) has intersected extensive near-surface oxide gold mineralization,
highlighted by 2.15 grams per tonne gold (g/t Au) over 30.0 metres in hole RAB-414.
The RAB program confirms six distinct areas of anomalous gold mineralization, and demonstrates that
oxide surface mineralization extends to depths of at least 39 metres and remains open in all directions.
Riverstone will conduct an aggressive reverse circulation (“RC”) drill program in 2013 to follow up on
these encouraging results.
“We are very excited that the first meaningful exploration program in the northern portion of Karma has
confirmed six drill-ready targets,” said Dwayne Melrose, President and CEO, Riverstone Resources.
“These RAB results indicate strong potential for additional gold mineralization over a wide area, and
reinforce our belief that we can add near-surface oxide resources within potential trucking distance of
our proposed Karma Project processing facility.”
Significant assay intervals from these RAB holes include:
2.15 g/t Au over 30.0 m in RAB-414
79.10 g/t Au over 3.0 m in RAB-004
0.89 g/t Au over 24.0 m in RAB-316
2.27 g/t Au over 3.0 m in RAB-020
1.00 g/t Au over 6.0 m in RAB-282
0.55 g/t Au over 19.0 m in RAB-283
Riverstone conducted RAB drilling in the north Karma area up to 28 kilometres from the proposed
Karma Project processing facility. The program consisted of 11,039 metres of RAB drilling in 449
vertical holes (drilled to an average depth of 30 metres) at sites selected based on historical workings
and anomalous geochemical sampling. Riverstone has previously conducted limited mapping and rocksampling programs in the north Karma area since 2008, as until recently, the major focus of
Riverstone’s Karma work was further south.
“Blue Gold merged with Riverstone based on the Karma Project’s near-term production profile and our
firm belief that Karma holds tremendous potential for further near-surface resource growth,” said Mark
O’Dea, Riverstone Executive Chair and former Chair and CEO of Blue Gold. “These results support our
view, and will help us design an effective exploration program for 2013.”
The Karma Project consists of five nearby deposits and a proposed central heap-leach processing
facility. The project is undergoing a definitive feasibility study, based on a 1.03 million ounce, in-pit
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