Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 31, 2012) – Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99) is pleased to report that an initial five hole drill program has commenced at the Pedernal Project in Durango, Mexico. The main focus of the program will be the Tablones Norte Vein, where the recent trenching and soil sampling returned encouraging results (News release January 24, 2012). The program also proposes to test the Milpas Vein structure with at least a single drill hole. Drill holes will vary from 200 to 400 metres in depth with angles of -50° to -60°.
“Drilling at Pedernal is on schedule and will test the second property with Mexigold as we also look forward to upcoming drill results from the Catrina Property. These properties are both in favourable gold-silver regions and show promise as high quality drill targets,” stated John-Mark Staude, President and CEO of Riverside Resources Inc.
Drill Program Objectives and Details:
The large vein sets at the Pedernal Project show indications of the upper portion of a low-sulphidation epithermal precious metal system. The proposed drill program aims to test the Tablones Norte and Milpas structures in zones where the structural setting along with the geochemistry sampling (rock and soils), IP resistivity survey and fluid inclusions study confirms coincident anomalies.
Click the following link to view a map highlighting the proposed drill collar locations:
http://rivres.com/images/Joint%20venture%20projects%20Diagrams/Pedernal/Jan2012_25000K_Pedernal_Proposed_Drilling.jpg
Qualified Person:
The scientific and technical data contained in this news release relating to the proposed drill program at the Pedernal Project was prepared under the supervision of Mark J Pryor, Pr.Sci.Nat., an 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.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
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.
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.
Riverside Resources Inc.
Kaley Reid
Corporate Communications
(778) 327-6671
(778) 327-6675 (FAX)
[email protected]
www.rivres.com
