Riverside Resources Partner Geologix Begins Drilling on Libertad Gold Project, Mexicoadmin
Riverside Resources Inc. announce that its partner Geologix Explorations Inc. (“Geologix”) has begun drilling on the Company’s Libertad Gold Project in Sonora, Mexico. As the operator of the Project, Geologix commenced a proposed 2,000 metre drill program on June 17, 2010 (Geologix News Release June 21, 2010). The drill program aims to test high grade gold anomalies recently identified through trenching and geophysical exploration programs. The drill program is focused on confirming the geologic theory as well as to test a geophysical anomaly which corresponds to geochemical results.
As stated by Geologix on June 21, 2010, “Drilling will be targeted at depth to test the zone where geophysical surveys indicate the presence of a geophysical signature that widens to 700 metres at a depth of 125 metres.”
“Since the Company identified the Libertad Property over two years ago it has shown significant potential for discovery. The Riverside team will follow the progression of the drill campaign at the Libertad project with great anticipation,” stated John-Mark Staude, President & CEO of Riverside. “With the recent announcement of the Cliffs IOCG Exploration Alliance and now a drill program on one of our projects by a partner it is clear that Riverside is successfully following the Company’s prospect generator business model and is able to provide growth opportunities for shareholders while limiting dilution and mitigating risk.”