Riverside Resources RRI ARiel

Riverside Resources (RRI.V) is coming through on its indications to focus on copper targets in Sonora as well, and the company has made good progress on its Ariel project, a 12.4 square kilometer mining concession in North-East Sonora. Riverside originally started to work on this property as part of the exploration alliance with Antofagasta (ANTO.L), and has now defined a wide zone of hydrothermal alteration with a total surface area of almost 5.5 square kilometers (2,800 meters by 1,900 meters).

The project is located in Mexico’s copper belt and is pretty much surrounded by large copper mines (we saw several mines owned by for instance Grupo Frisco and Grupo Mexico when we visited the Cecilia project, so Riverside is definitely looking in the right region (especially as the La Caridad copper-moly mine, which contained almost 20 billion pounds of copper, is just 30 kilometers away). We don’t have the impression this copper project is something Riverside would like to tackle on its own, and in its recent press release, the company confirms it’s open for joint venture approaches on Ariel.

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The author has a small long position in Riverside Resources. Please read the disclaimer

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