Riverside Resources Inc RRI:CA in joint venture with Geologix Explorations Inc GIX:CA announced assay results from the Libertad Property in Sonora State, Mexico. Highlights include 1.02 g/t gold and 65.1 g/t silver over 26.1 metres, 0.51 g/t gold and 32.3 g/t silver over 50.8 metres, 39.8 g/t silver over 71.5 metres and 29.4 g/t silver over 94.1 metres. Geologix can earn up to an 85% interest in the property and is the project operator.
Geologix’s President/CEO Dunham Craig said, “As Libertad has never been systematically sampled or drilled before, our objective in this program was to test over 1.3 kilometres of strike to determine if the project had the ability to meet our internal minimum criteria of over 1.0 million ounce potential. Intersecting mineralization in all ten initial holes gives credence to our projection of a large gold/silver system that we have only begun to explore. We are pleased with these results as they support the potential to meet that criteria with an open-pit bulk mining target as gold and silver (and gold equivalent) grades identified to date, are equal to, or better than most current open pit heap leach operations in Mexico.”
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Riverside Resources Inc
or Geologix Explorations Inc
by Ted Niles