Riverside Resources samples 7.30 g/t gold at Cecilia Project, Mexico
Riverside Resources Inc. [TSXV-RRI; OTCQB-RVSDF; FSE-5YY] reported on rock sampling and fieldwork from the Cecilia Gold-Silver Project, 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 4 of the 7 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: 34 rock samples were collected at the primary targets; 22 samples in the main target “Cerro Magallanes” confirming gold grades up 7.3 g/t gold and >100 g/t silver.
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 km length in the Magallanes Target area that returned gold values in assays up to 7.3 g/t gold and 144 g/t silver. The sampling confirms the consistent Au grades obtained in past surface workings and diamond core drilling that includes 24.2 metres of 1.51 g/t gold in CED21-005 by the company. The mapping and exploration activities combined with data reprocessing allows 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.
The Cecilia project consists of six mineral concessions, collectively covering over 77 km2 (7,739 hectares) in size, thus a large district covered by the Company. The Project is located 40 km southwest of the Agua Prieta border between Mexico and the USA, and 50 km east of Mexico’s largest mining complex, Cananea copper mining complex producing the largest amount of copper in Mexico.
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 (Figure 3). These targets represent different levels of exposure and make the Cecilia project a potential district for multiple gold discoveries.
Riverside is a well-funded exploration company driven by value generation and discovery. The company has over $6M in cash, no debt, and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has properties available for option.