Riverside Resources Stakes the Compuerta Copper Project in Sonora, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/03/14 --
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,
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."
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.
President & CEO
(778) 327-6675 (FAX)
Riverside Resources Inc.
Manager, Corporate Development
(778) 327-6675 (FAX)
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