Welcome to our dedicated page for Riverside Res news (Ticker: RVSDF), a resource for investors and traders seeking the latest updates and insights on Riverside Res stock.
Riverside Resources Inc. reports mineral exploration developments across a portfolio of gold-silver, base metal and copper projects in North America. News for RVSDF commonly covers field sampling, drill results, geological mapping, geochemistry and geophysics at the La Union and Union project areas in Sonora, Mexico, including carbonate replacement and sediment-hosted gold targets advanced with partner-funded work.
Company updates also address the 100%-owned Ariel Copper Project in Sonora, porphyry copper-gold target generation, mineral concession consolidation, property option agreements and portfolio activity in British Columbia, including the Red Jacket Project. Recurring corporate news includes exploration planning, royalty and project-generator strategy, financing activity and balance-sheet commentary.
Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) has completed a LiDAR airborne geophysical survey at its Duc Project in Ontario, Canada. The survey is part of the company's summer field program and aims to enhance targeting and define surface projections of gold-bearing structures. Key highlights include:
1. Creation of a geo-referenced 3D map with ≥100 points/m2
2. Development of digital surface and elevation models
3. Generation of accurate ground surface contour and Hill Shade Bare Earth maps
The LiDAR survey, combined with orthophotography and heli-mag data, provides a framework for the next phase of exploration. It helps identify subtle geological features, old workings, and potential gold mineralization corridors. The Duc Project is located in the Wawa Greenstone Belt, known for hosting significant gold resources like the Hemlo Mining Camp.
Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) has announced the commencement of a 2,500m core drilling program at the Cecilia Project in Sonora, Mexico, in partnership with Fortuna Mining. The program, with a budget of USD$800,000, will initially test 3 target areas through 8 drill holes. Key targets include:
1. Cerro Magallanes breccia and dome margin
2. East target with former small-scale mine workings
3. Myra vein targets in the Mesa area
The drilling aims to explore areas with previously reported high-grade gold and silver samples, including surface channel vein samples of up to 3 g/t Au and chip samples with gold values up to 4 g/t Au. The program follows recent airborne magnetic surveys and extensive geochemistry and mapping efforts.
Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) has signed a Letter of Intent with Questcorp Mining Inc. (CSE: QQQ) for the La Union project in Sonora, Mexico. Questcorp can acquire 100% interest in the project by investing $5,500,000 over 4 years. Riverside will receive $100,000 and 19.9% ownership in Questcorp. The project is a large, carbonate-hosted gold district with high-grade gold-zinc deposits and past mining operations. Riverside will remain the program operator during the option term and retain a 2.5% net smelter returns royalty on commercial production. The transaction is subject to various conditions, including regulatory approvals and completion of Questcorp's concurrent financing of at least $1,500,000.
Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) has completed a detailed aeromagnetic drone survey at the Cecilia Project in Sonora, Mexico. The survey identified a new magnetic anomaly area of 6 x 2 km² in the southwest part of the project, displaying structural controls similar to the main Cerro Magallanes target area. This discovery expands the focus of upcoming exploration activities.
The project, covering over 60 km², is a district-scale gold and silver, low-sulfidation epithermal system. It is currently optioned with Fortuna Mining, with Riverside as the operator. The company has completed geophysics, geochemistry, and geological integration to improve drill targets. A fully funded drill program is scheduled to start in early Q4, 2024.
The new UAV magnetic data covers the entire project area, with 658 line kilometers flown. The results revealed strong NW-trending magnetic lineaments in the southwestern corner, similar to previously mined and drilled Au-mineralization structural trends. This data will aid in refining targets and planning future exploration efforts.
Riverside Resources (OTCQB: RVSDF) has announced its participation in the 2024 Rule Symposium Investor Conference, hosted by Rick Rule at The Boca Raton Resort in Florida from July 7-11, 2024. Presentations will be recorded and accessible online. This event offers Riverside an opportunity to discuss trends in mineral resources and metals exploration. CEO John-Mark Staude emphasized Riverside's ongoing support for the conference and the chance to update investors on upcoming catalysts in Ontario, drilling with Fortuna Mining, copper discovery, rare earth elements, and the company's royalty portfolio.
Additionally, Riverside has entered into an investor relations agreement with Incite Capital Markets for a minimum six-month term starting June 27, 2024. Incite will provide part-time investor relations services at $7,500 per month. The agreement is pending approval from the TSX Venture Exchange. Incite specializes in capital markets, corporate communications, and investor and media relations, and holds no interest in Riverside or its securities.
Riverside Resources announced the acquisition of the Maria Luisa Copper Property, further consolidating the Ariel Copper Project in Sonora, Mexico.
This acquisition adds 30% more land, expanding their control to 16 sq km. The Ariel project includes high-grade copper findings and is fully permitted for drilling.
The transaction involved a total payment of USD $200,000 without royalty or retained interest, giving Riverside 100% control.
Riverside aims to partner for drilling at Ariel and Maria Luisa, leveraging proximity to Mexico’s second-largest copper mine, La Caridad.
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