Exploration Work Underway At Tajitos Gold Project
VANCOUVER, BC - Riverside Resources Inc. reported that exploration work has commenced with partner Centerra Gold Inc. at the Company's Tajitos Gold Project in Sonora, Mexico. This first phase of work is already expanding the target size and documenting high quality future drill targets. The initial $300,000 USD exploration program funded by Centerra Gold includes extensive continuous channel rock chip trenching and stream sediment sampling to test the surface expression of grade and continuity of the gold target, which is interpreted to be at shallow depths based upon previous mapping and exploration work completed by Riverside.
Areas of exposed rocks in the Tajitos zone are being chip-channel sampled and trenching will explore gravel covered areas along the northeast trending sample lines. The sample lines generally run perpendicular to the strike of the several kilometer long shear zone with features similar to producing mines in the area including Herradura Mine of Fresnillo, San Francisco Mine of Timmins Gold and the Chanate Mine of Alamos Gold. The sampling on northeast trending traverses will evaluate approximately 4,000 meters of sheared and altered rock along 6 sample lines in an area 2 km wide. Strongly silicified rhyolitic volcanic rocks and quartz monzonite with well-developed sericite and oxidized pyrite were encountered in the first 2 lines, which is similar to mineralization style known at Fresnillo's Noche Buena Mine located 35 kilometers to the NW along the major shear zone trend. The strongly altered zone on some of the Tajitos hills is exposed along a continuous length of nearly 300 meters with a vertically exposed apparent thickness of at least 60 meters in outcrops. Assays and results from the initial sampling work are expected in early 2016.
Riverside's President and CEO, John-Mark Staude, said, "The exploration team at Riverside is quickly into action with the partnership funding from Centerra as they begin their potential $6,000,000 work investment into Riverside's 100% owned property. The sampling and mapping will expand upon previous work and the regional scale Tejo area, which covers more than 50 square kilometers within the prolific megashear gold trend of Sonora. We look forward to initial results and continued collaboration with Centerra at Tajitos in 2016. Riverside continues to carefully focus using our cash position of over $3,000,000 to acquire additional high quality projects at deep industry discounts to position and grow the business."