Saturday, July 5, 2025

Latest

Riverside Resources Inks US$31 Million Earn-In Agreement To Jumpstart Exploration At La Union Project

Riverside Resources (TSXV: RRI) announced today an exploration earn-in option agreement with the Mexican subsidiary of Hochschild Mining for the company’s wholly-owned La Union gold-silver project in Sonora, Mexico. Total consideration for the agreement can reach up to US$31.0 million.

“The intention for the program is to initially conduct property wide sampling, improved mapping, and then geophysical work to rapidly refine drill targets,” the company said in its statement. “This would lead to expected drill testing in early 2023.”

The agreement is drawn up in two earn-in optional phases. Phase 1 allows Hochschild to earn 51% of the project via incurring exploration expenses through reimbursements amounting to US$8.0 million within five years from signing. The two companies can then elect to form a 51%-49% joint venture.

Hochschild can choose to expand to Phase 2 in order to earn an additional 24% in equity by further reimbursing expenditures amounting to $3.0 million and producing a feasibility study for the project within three years.

After which, Riverside has the option to sell its entire interest in the project for an additional US$20.0 million and 1% net smelter royalty.

We are delighted to partner again with Hochschild Mining as we have had a productive and positive relationship working together on several past projects. Riverside has invested in working up the project to an actionable stage and consolidated the tenures making this a highly prospective property that warrants the type of exploration spending that this agreement provides.

John-Mark Staude
President and CEO, Riverside Resources

The 26 km2 La Union project is located in the southern portion of the carbonate stratigraphic mountains of the Sierra El Viejo, in which the reactive limestone and dolomites formed a carbonate-hosted style of mineralization. The mining firm did a sampling in 2021, yielding significant mineralization with up to 59.8 g/t gold, 833 g/t silver, 5.8% lead, and 4.2% zinc.

Riverside Resources last traded at $0.15 on the TSX Venture.


FULL DISCLOSURE: Riverside Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Riverside Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Where Are Investor Flows Into Equities Going Next? With John-Mark Staude

On today’s video, we welcome back John-Mark Staude, CEO of Riverside Resources (TSXV: RRI). Staude...

Tuesday, May 31, 2022, 01:30:00 PM

Riverside Assays 9.1 G/T Gold Over 3.4 Metres In Channel Sample At Cuarentas

Riverside Resources (TSXV: RRI) this morning announced that it has received results from recent channel...

Thursday, October 8, 2020, 08:26:28 AM

Riverside Completes Spin-Out of Capitan Mining

Riverside Resources (TSXV: RRI) has completed the spin out of shares of Capitan Mining (TSXV:...

Friday, August 14, 2020, 09:50:42 AM

Project Generators: DD On The Go, Ep. 1

Welcome to the first episode of DD on the Go! - a new series focused...
Wednesday, April 3, 2024, 11:30:00 AM

Riverside Resources Spins Out Blue Jay Gold Corp

Riverside Resources (TSXV: RRI) has completed the spin-out of Blue Jay Gold Corp, effective as...
Thursday, May 22, 2025, 09:20:46 AM