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Riverstone Resources Inc. announces an updated independent NI 43-101 compliant Mineral Resource estimate, that shows an increase of 42% for the global mineral inventory compared to the February, 2011 resource estimate at its flagship Karma gold project in Burkina Faso, West Africa.
The NI 43-101 compliant resource estimate has been completed by P&E Mining Consultants Ltd. of Brampton, ON. The estimate was completed on the Goulagou I, Goulagou II, Kao, Rambo and Nami deposits which are all in close proximity to each other. Highlights (resources are contained within five Whittle open pit shells) • Global Mineral Inventory (inside and outside of Whittle pit shells) consists of indicated gold mineralization totaling 1,773,000 ounces of gold in 54.1 Mt at an average grade of 1.02 g/t Au and inferred gold mineralization totaling 959,000 ounces of gold in 37.4 Mt at an average grade of 0.8 g/t Au. • A significant portion of the gold resources are at shallows depth (less than 200 metres vertical depth) and over 80% of the global mineral inventory is contained with the five Whittle pit shells. • Total Indicated gold resources within five Whittle pits are 1,634,000 ounces of gold in 47.34 Mt at an average grade of 1.07 g/t Au. • Total Inferred gold resources within five Whittle pits are 566,000 ounces of gold in 18.93 Mt at an average grade of 0.93 g/t Au. • 74% of the resources within the Whittle pit shells are classified as Indicated gold resources. • Mineralization remains open at depth and along strike in at least one direction for all deposits. • This resource will be used as the basis for proceeding with a Preliminary Economic Assessment (PEA) commencing in Q1, 2012. "We are extremely pleased with the material increase of Indicated resources at Karma" commented Dwayne L. Melrose, President and COO of Riverstone Resources Inc. "This will provide a solid base for going forward with engineering and economic studies in 2012 to establish Karma as one of the premier gold projects in West Africa. There is also significant potential to continue to increase the gold resource. We have completed 25,229 metres of drilling that are not included in the resource estimate and are presently drilling with five rigs". More information, click here. |
