The Rambo Deposit contains 56,900 oz of gold at an average grade of 7.02 g/t, the deposit is open for expansion and is anticipated to become the starter pit.

Goulagou I & II contain 577,000 oz of gold at a grade of 1.83g/t - the resource is anticipated to increase with this year’s drilling program. Both deposits appear to be showing improved grades to the north.

The Kao Deposit contains 507,000 oz of gold at a grade of 0.91g/t and is still open to the north, north east and depth.

Gold resources at Karma are shallow, the bulk of resources is in oxide material above 100 meters in depth. There is the potential for a centralized gold processing facility to handle the material from all the deposits. There is also significant potential to expand gold resources with many untested gold showings.

A new discovery, the Nami artisanal site, is located 4 kilometers north of the Rambo deposit. Artisanal activity commenced on the site in April, 2009 and activity has increased substantially since then. Artisanal workers excavate small, vertical shafts and collect material – in Nami’s case from quartz veins and quartz breccias - which they process through a crude sluice box system. Several hundred of these shafts have been excavated to date.

Riverstone has recently undertaken testing of the Artisanal miners waste dumps. The waste dumps are material left behind by the artisanal miners after high grading the quartz veins and they are considered by these miners to carry no gold grade. The average of all samples greater than 0.3 g/t is 1.36 g/t with a high of 8.6 g/t.

"We are very pleased with the results from the waste dump sampling. We knew from our sampling of the *quartz veins and quartz breccias that they carry exceptionally high values of gold but we had very little information on the gold content of the host rock surrounding the quartz bearing material. The average grade of 1.36 g/t returned from the waste dump material certainly exceeded our expectations and is a very positive development for the project." M.D. McInnis, President and CEO of RVS
*Previous sampling by the Company of the quartz bearing rock returned numerous values in excess of 10 g/t gold with a high of 98 g/t. (See Riverstone News Release dated Jan. 18 and Feb 23, 2010). These high grade values should elevate the average grade of the Nami site to a value well in excess of the 1.36 g/t background value defined by the dump sampling.

Any gold ounces developed at Nami will be accretive to the NI 43-101 gold resource at the Company's adjacent Rambo, Goulagou and Kao deposits – the Karma Project. Nami is approximately 1.5 km by 600m based on RAB drilling and tracing the quartz veins and altered zone.

Currently there are over 6000 samples in the laboratory and another 20,000 meters of drilling is planned for Karma this year.
2. Ligidi - a 13 km long by 3 km wide gold-in-soils geochemical anomaly that is open in at least one direction. The Ligidi permit covers 225 square km and both Birimian greenstones and Tarkwaiian sediments have been identified on the property. The presence of Tarkwaiian rocks is closely linked to the very large gold deposits found in Ghana.

Riverstone has plans to spend $1mm on this project in 2010. The company expects to have plus $5mm remaining in its treasury at the end of 2010.

Joint Ventured Projects
The Company’s other three projects, all drill ready, will have a total of $1.05m spent on them through the second half of the year as the result of a recently announced option agreement. Riverstone retains 60% after earn in and remains operator.

3. Yaramoko - an 8 km long deformation zone which appears to be the continuation of the mineralized zones at Semafo's Mana Gold Mine. The Mana Mine is being developed on a series of high-grade gold veins.

4. The Bissa East Project - comprises two contiguous Exploration Permits, Tangapella and Biliga. To date, the company has defined three gold zones on Tangapella and two on Biliga. The Bissa East permits collectively cover an area of 498 square km and were acquired to cover portions of the northeast trending Sabcé shear zone. The Sabcé shear zone hosts a large number of known gold deposits.

5. Solna - The Solna Project comprises three contiguous permits, Solna, Teyango and Yantera. The company has delineated a 30 km long deformation zone that runs through all three properties. Work done to date on the more advanced Solna permit has demonstrated the presence of some very high gold grades in trenches.

Conclusion
Five large exciting projects already in their portfolio, unlimited potential for new discoveries, a mining friendly country that recognizes the need for resource extraction, ongoing legislation changes, the new mining fund and a series of tax breaks all mean Riverstone Resources is in a good position to take advantage of everything Burkina Faso has to offer investors.
Currently Riverstone is valued at roughly $50 per gold oz in the ground. This is very low for West African gold - $75 oz for the insitu value of gold in West Africa.

After the upcoming 20,000 meter drilling program this author believes Riverstone’s current gold resource of 1,140,800 Indicated and Inferred oz’s could rise substantially.

Burkina Faso and RVS.v are, in this authors opinion, offering a chance for early investors to get in on the ground floor of a mining boom. Riverstone Resources TSX.V – RVS and Burkina Faso - The Land of Upright People - should be on every investors golden radar screen.

Is it on yours?

Courtesy: www.aheadoftheherd.com

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook