Last week, Riverside Resources (RRI.V) released the assay results from an extensive rock chip channel sample program on the Cerro Magallanes zone of its Cecilia gold-silver project in Mexico’s Sonora state. Four different zones of the Cerro Magallanes target have now been subject to a sampling program, and this has resulted in five high-priority target zones popping up on the map based on the assay results for gold and silver:
We are particularly interested in what’s now called the North Brecchia zone where Riverside sampled the 10 meters at 3.34 g/t gold and 5 meters of 4.04 g/t gold(with both ends remaining open), as this zone appears to be continuous for approximately 600 meters, before it merges with the Agua Prieta zone and then intersects the San Jose trend. According to Riverside, the exact spot where these three zones get combined would be an excellent drill target. Hardly surprising, as this San Jose trend hosts the San Jose West Area, where old mine workings are indicating the presence of some low-hanging fruit that was mined by artisanal miners.
The San Jose zone also is the area where Cambior sampled 47 meters at 1.12 g/t gold, confirmed by Riverside’s own sampling program which revealed 8 meters at 1.50 g/t gold. Despite these excellent sampling results, this zone has never been drilled, so it will be interesting to see what Riverside plans to do.
The Cecilia project is now drill-ready, and it looks like Riverside doesn’t necessarily want to wait for a partner to come along before drilling. Discussions with ‘prospective partners’ are ongoing, undoubtedly attracted by what CEO Staude calls ‘district scale targets showing strong gold values and good continuity’. We recommend you to read the entire press release here.