Source: Maurice Jackson for Streetwise Reports 01/20/2020
Drill results for this company’s prospect, flanked by notable mines, is the subject of this interview with Proven and Probable’s Maurice Jackson.
Maurice Jackson: Welcome to Proven and Probable. Joining us for a conversation is the president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), John-Mark Staude. Riverside has some intriguing news now, starting 2020, regarding high-grade gold coming from the company’s Los Cuarentas gold project in Sonora, Mexico.
John-Mark, before we discuss today’s press release, for someone new to Riverside, please introduce the unique value proposition the company presents to the market.
John-Mark S.: Riverside is an integrated prospect generator company. We have major alliances with some of the biggest mining companies. We expose the shareholder to multiple opportunities and multiple commodities with a limited risk. We really like this model.
Maurice Jackson: Let’s visit Sonora State, Mexico, where, as I understand, [you’ve] just returned from the field. John-Mark, talk to us about the Los Cuarentas gold project and the recent rock-chip sample program results. How did Riverside come up with such a project and acquire this location?
John-Mark S.: We’re really excited. Riverside acquired the Los Cuarantes by optioning and then buying five projects from Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQB). The location of Los Cuarentas is immediately to the east of the major gold mine of Mercedes that’s operated now by Premier Gold Mines Ltd. (PG:TSX). It’s immediately to the west of the Las Chispas project, which is very exciting for SilverCrest Metals Inc. (SIL:TSX.V), which has been making big discoveries, moving ahead quickly toward development, [which] shows that there’s mining right adjacent to us. Our location is fabulous for very fast potential transactions, and we can see immediately that the high-grade material from the Los Cuarentas could feed into either Las Chispas or into Premier Gold Mines’ Mercedes mining complexes.
Maurice Jackson: Now, for early 2020, Riverside just released some impressive rock chip sampling results from the current field program that is looking to set up drill targeting. Dr. Staude, can you briefly summarize the Los Cuarentas gold project and some of the key highlights from the recent sample program?
John-Mark S.: The location, with Las Chispas immediately to the east and Mercedes immediately to the west, makes Los Cuarentas an ideal [prospect]. In fact, we’re surrounded by various mines, really a good mining location. These results are excellent for us. Having 25 grams of gold, high-grade gold, from dump samples and having multiple samples of rock float, rock chip, all having high-grade mineralization, really makes it exciting for us at the project Los Cuarentas.
Maurice Jackson: Consistency is paramount to achieve success and accelerate exploration efforts. How do the first set of results conducted by Riverside correspond with historical results on the Los Cuarentas?
John-Mark S.: Looking at the map, it shows the historical work along with Riverside’s work. We have similar values along the structures here going multiple kilometers long—high-grade mineralization—and particularly the Santa Rosalia target, and the Santa Rosalia Sur target, are very good for high-grade mineralization right at the surface.
Maurice Jackson: John-Mark, you referenced two target areas. Can we take a more in-depth look at both of them please?
John-Mark S.: The first target is the Santa Rosalia. We can follow this target along strike here well over a kilometer with very little mining, hydrate mining in here, but no drilling. So we’re very excited about the drill potential at the Santa Rosalia.
If you go to the Santa Rosalia Sur immediately to the south, there’s an old drill hole that didn’t reach the actual target and the target zone has wide intercepts of 6–8.8 grams, [and] other gold mineralization right at the surface next to the vein structures. On the Santa Rosalia Sur, we have a long zone, again, a kilometer of mineralization. Our team’s been working hard. Very excited to have just got back from the field and now have this news—results out for the Santa Rosalia Sur target—[for] two of the top targets we have at the property.
Maurice Jackson: Dr. Staude, before we leave the Los Cuarentes gold project, what can you share with us regarding the genetic model?
John-Mark S.: The genetic model really fits for a dome complex. Here we see the dome breccia epithermal low sulfidation vein systems, the veins following structures and sheers, and particularly the sheers around different fault zones,. . .typical of the upper levels of an epithermal gold system. We really like that type of model and the potential for this type of epithermal rhyolite complex.
Maurice Jackson: Switching gears, John-Mark, what is the next unanswered question for Riverside? When can we expect an answer, and what will determine success?
John-Mark S.: The next unanswered question at the Los Cuarentes project is how big, how deep, and how far this can go? We will now focus our efforts on mapping, and more sampling, and getting a drill permit. We’re very excited about the value proposition before us. Riverside could drill Los Cuarentas ourselves. We do have interest from other parties. We really like the results here, it’s a super good project.
What would determine success is more high-grade gram thicknesses. We have to the east of us Las Chispas, and to the west we have the Mercedes mine. Riverside believes we have the potential for a mine at the Los Cuarentas. That would really help us determine success.
Maurice Jackson: Before we close, John-Mark, please provide us with an update on the capital structure.
John-Mark S.: Riverside continues to have a tight share structure, with 63 million shares out, no debt, and over $3 million cash. We’re in a great financial situation and [have] a very focused share structure.
Maurice Jackson: Dr. Staude, for someone listening that wants to get more information on Riverside Resources, please share the contact details.
John-Mark S.: Please visit our website at www.rivres.com or phone us at (778) 327-6671.
Maurice Jackson: Before you make your next precious metals purchase, make sure you visit us at www.provenandprobable.com or call (855) 505.1900. We are licensed representatives for Miles Franklin Precious Metals Investments. Riverside Resources is a sponsor of Proven and Probable, and we are proud shareholders for the virtues conveyed in today’s message.
Dr. John-Mark Staude of Riverside Resources, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Riverside Resources and Millrock Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Riverside Resources and Millrock Resources are sponsors of Proven and Probable. Proven and Probable disclosures are listed below.
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( Companies Mentioned: RRI:TSX.V; RVSDF:OTCQB,
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