Exploration has begun for Riverside Resources (TSXV: RRI) at its Oakes Project. Found within the Geraldton Gold Belt of Ontario, the project is wholly owned by the company, with the exploration program being entirely self funded following the closing of a small flow through financing by the company.
The exploratory work to be conducted by the company currently consists of a small drill program, sized at 1,500 metres in aggregate. A total of twelve holes are currently planned, which will large be focused on the HG Target on the property, which was identified during last years field work program. The target has demonstrated surface values as high as 31.9 g/t gold.
The drill program follows IP surveys, geochemical assays, trenching, field mapping and trenching conducted on the property that was largely funded by a prior partner over the last several years. Outside of the HG Target, the IP program identified two anomalies, the Crib and Brinklow targets, which will also be drill tested under the program.
“We are very excited to be self-funding the drilling at the Oakes Project, which we have advanced the past two summer field seasons to the extent that drilling was the next logical step. Our team has done tremendous work compiling the old and new data into a model that is quite compelling and we are pleased to have a good drilling partner on site turning the steel and our geos at location with boots on the ground,” commented CEO John-Mark Staude.
Mineralization at the HG Target is currently believed to be found within a northwest trending vertical shear zone. The geology in the area is believed to be similar to other gold camps in the region, including Geraldton and Red Lake.
Riverside Resources last traded at $0.15 on the TSX Venture.
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