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Riverside Resources Inc
Symbol RRI
Shares Issued 68,394,631
Close 2023-12-20 C$ 0.13
Market Cap C$ 8,891,302
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Riverside samples up to 7.3 g/t Au at Cecilia

2023-12-20 10:37 ET - News Release

Dr. John-Mark Staude reports

RIVERSIDE SAMPLES 7.30 G/T GOLD FROM ROCK SAMPLES ALONG A 0.8 KM TRANSECT EXPANDING TARGET ZONE AT THE CECILIA PROJECT IN SONORA, MEXICO

Riverside Resources Inc. has released results from rock sampling and fieldwork from the Cecilia gold-silver project in Sonora, Mexico. The results fit within the larger context of a district scale gold-silver composite dome system with superimposed gold-rich veins. Past drilling by Riverside intercepted high-grade gold in four of the seven holes and this sampling over new areas, doubles the strike of the defined mineralization footprint. This large footprint is consistent with other rhyolite dome gold systems including those in New Mexico like Mogollon and in Sonora like at La India mine of Agnico Eagle.

Key highlights:

  • Thirty-four rock samples were collected at the primary targets.

  • Twenty-two samples in the main target, Cerro Magallanes, confirmed Au grades up 7.3 grams per tonne gold and silver greater than 100 grams per tonne.

  • Five primary structural trends were identified with field data and historic geochemical data reprocessing.

  • Updated drilling permits, valid for the next several years, have been obtained along with signed agreements for surface access over the targets.

Riverside collected rock chip samples from selective areas along 0.8-kilometre length in the Magallanes target area that returned gold values in assays up to 7.3 g/t Au and 144 g/t Ag. The sampling confirms the consistent Au grades obtained in past surface workings and diamond core drilling that includes 24.2 m at 1.51 g/t Au in CED21-005 by the company. The mapping and exploration activities combined with data reprocessing allow the company geologists to define the main structural trends (Agua Prieta, San Jose, North Breccia, Central and East trends) that are the main mineral corridors. The structural trends are interpreted as the surface expression of a rooted rhyolite dome system where higher grades lie at the base of the hill. The geochemical data obtained and the geologic mapping are helpful to refine the geological model for the deposit type and target delineation for the next drill program planned for 2024.

 SELECTED ASSAY RESULTS FROM RIVERSIDE'S RECENT SAMPLING AT CECILIA

Area                East     North      Elevation      Au g/t   Ag g/t
                                        sample type

Cerro Magallanes    612215   3436934    1779 selected    7.3    144
Cerro Magallanes    611598   3436932    2165 selected    6.18     9.21
Cerro Magallanes    612362   3437066    1711 dump        3.87    38.7
Cerro Magallanes    611469   3436911    2167 chip        2.64     1.33
Cerro Magallanes    611425   3436898    2133 chip        2.08     2.3
Cerro Magallanes    611935   3436954    1936 chip        1.86    12.65
La Cruz             615365   3438484    1431 chip        1.63     3.29

Cecilia project

The Cecilia project consists of six mineral concessions, collectively covering over 77 square kilometres (7,739 hectares) in size, thus a large district covered by the company. The project is located 40 kilometres southwest of the Agua Prieta border between Mexico and the United States, and 50 kilometres east of Mexico's largest mining complex, the Cananea copper mining complex, producing the largest amount of copper in Mexico.

In the Cecilia project, the rhyolitic tuffs and dome complex units intrude and unconformably overlie a sequence of marine clastic sedimentary rocks consisting of interbedded siltstone and sandstone of the Cretaceous Cabullona group which hosts gold mineralization in other portions of northern Sonora as well as here at Cecilia. The age of the mineralization obtained by Riverside yielded 18 million years using uranium-lead in zircons in syn-volcanic mineralized rhyolite flow dome in the top of the sequence. This age for mineralization tied to magmatism has also been reported in large Au camps in Arizona (for example Oatman area, DeWitt et al., 1986).

Riverside work in the district has developed additional targets including the Cruz 1, Cruz 2, Cruz 3, Casa de Piedra, Los Llanos and Magallancito targets. These targets represent different levels of exposure and make the Cecilia project a potential district for multiple gold discoveries.

Qualified person and quality assurance/quality control

The scientific and technical data contained in this news release pertaining to the Cecilia project were reviewed and approved by Julian Manco, PGeo, a non-independent qualified person to Riverside Resources focusing on the work in Sonora, Mexico, who is responsible for ensuring that the information provided in this news release is accurate and who acts as a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Rock samples from the exploration program discussed above at Cecilia were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico, for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, B.C., Canada, for 45-element inductively coupled plasma mass spectrometry analysis. A quality assurance/quality control program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.

Riverside is a well-funded exploration company driven by value generation and discovery. The company has over $6-million in cash, no debt and less than 75 million shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's exploration spending, the company also strives to diversify risk by securing joint-venture and spinout partnerships to advance multiple assets simultaneously and create more chances for discovery.

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