Riverside Resources: Partner Funded Exploration Work Now Underway at Glor Gold Project


VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 12, 2016) – Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99), is pleased to announce that exploration work is now underway with partner Centerra Gold Inc. (“Centerra”) at the Glor Gold Project (the “Project”), located approximately 8 km west of Alamos’ El Chanate Mine in Sonora, Mexico. The budget for this first phase of exploration is $250,000 USD, with Centerra having the opportunity to earn a 70% interest in the Project by funding $3,500,000 USD in exploration within four years (see Riverside’s press release July 26, 2016).

The current program will start with further mapping focused on geology definition within previously generated target concepts, with 1,000 soil samples and 136 line-km of ground magnetics surveying planned for the target zones. The magnetics data will be followed up with 20 line-kms of induced polarization (IP) surveying and 1,800 metres of channel sampling (3m long samples) for a total of approximately 600 rock samples. Specific drilling targets will be defined at the conclusion of the planned program, with drill testing of these targets to potentially be carried out during a second phase of exploration.

Leave a Reply