Sonora Gold Project Sampling Turning Out High-Grade Results

Source: Maurice Jackson for Streetwise Reports 04/21/2020

Maurice Jackson of Proven and Probable speaks to CEO John-Mark Staude and geologist Erika Sweeney about Riverside Resources’ Los Cuarentas Project and the company’s spinout, Capitan Mining.

Maurice Jackson: Today we’re going to discuss the highly prospective gold and silver project located in Mexico. Joining us for a conversation is Dr. John-Mark Staude along with Erika Sweeney of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB). Pleasure to speak with both of you regarding the value proposition of Riverside Resources where knowledge is golden.

Dr. Staude, before we delve into today’s interview, please introduce Riverside Resources and the opportunity the company presents to the market.

John-Mark Staude: Riverside is a prospect generator. We have programs in Canada and in Mexico, and we provide a diversified opportunity for discovery in gold, silver and copper.

Maurice Jackson: Back in January (Interview), Riverside Resources introduced the Los Cuarentas Gold-Silver project, which is located in Sonora, Mexico, between two highly valued mining and development operations. In that interview, Riverside had reported the completion of some preliminary field work and reported some high-grade rock samples, of which the highest sample was nearly 26 grams per ton. Take us to the Los Cuarentas, where I understand Riverside has some more exciting details regarding target mapping, new rock sample results and permitting. What can you share with us?

A close up of a map

Description generated with high confidence

John-Mark Staude: Sonora, Mexico, is a great location for mining; it’s one of the main mining states in Mexico. To the west of Los Cuarentas project is the Mercedes Mining District operated by Premier Gold Mines. To the north we actually have Santa Gertrudis where we have Agnico Eagle, and to the south we have the Las Chispas mine, very high-grade silver that’s going with Silvercrest. For us, Los Cuarentas with this structural zone here is a great area for big discoveries in former mining districts. Immediately to the east of us is a former mining center as well, so we love this location.

Maurice Jackson: Erika, what are we looking at here?

Erika Sweeney: As a geologist, this is a very exciting map. Here, we actually found out that we’re able to double our targets from 3 to 6. What is unique is that all six targets are on different structures. What’s very important to note is that all of them have very high-grade samples. Whether we are discussing historicals or the recent Riverside samples, all are very high grade. We’re looking at a high-grade sample reporting at 25.7 grams per ton, 18 grams per ton, and we have historical samples up to 29 grams per ton, which was parallel to the main mine site and it’s all continuous. There is just so much to see out there, and we want to move forward with drilling it because there was a mine here before that produced maybe 100,000 tons of ore. I think there is a lot more to go and see based on our findings.

For the Santa Rosalia target, you’re looking at at least one kilometer in strike length of high-grade mineralization. When you get to Santa Rosalia Sur you actually have almost two-kilometers of length of high grades and alteration that can be pretty significant for upside.

Maurice Jackson: John Mark, what is the next unanswered question for Los Cuarentas? When can we expect a response and what will determine success?

John-Mark Staude: For us, as a prospect generator, the next unanswered question is drilling and exploration. We actually have the drill permit; next we need to find a partner. If we can get a partner, perhaps a mid-tier gold or silver producer, that would be ideal. They have the skills to carry the project forward. We have done the work generating, working together, consolidating, so for us the next unanswered question is how big can this be? Can we expand the former resources and come up with more discoveries on this really endowed piece of land?

Maurice Jackson: Switching gears, John Mark, how does a strong gold price and low ore costs impact Riverside resources?

John-Mark Staude: My gosh, it is excellent. For us, owning gold in the ground has been our objective. Now with a rising gold price, we’re very active. We can see the potential of a portfolio of projects. We have projects in Canada and in Mexico and for us a rising gold price is ideal. We also have royalties on our projects, so as they get developed for the shareholders of Riverside the sky’s the limit. It’s a wonderful time and we’re very excited, super active right now and trying to get more properties and more partners and really moving ahead. It’s making a big difference.

Maurice Jackson: Speaking of costs, sir, can you provide us an update on the share price and the capital structure?

John-Mark Staude: Riverside’s in a very strong financial position. For us we really see good upside potential and are very excited about the next coming months for Riverside. Our current share prices are 11 cents US or about 15 cents Canadian. That for us is a low. In fact, I’m buying more shares at these levels. The share structure continues to be tight at 63 million shares. We have a good cash position as well of over $2 million cash and we have $0 debt.

Maurice Jackson: John Mark, before we close here, there was a recent spinout, was there not, with Riverside?

John-Mark Staude: Thank you for asking! During the first half of this year we’ve received approval through the plan of arrangement on our spinout company called Capitan Mining. Current shareholders of Riverside will get about one share of Capitan Mining for every four shares of Riverside. That’s progressing well and right now we’re financing Capitan. Even with the advent of COVID-19, Riverside’s resolve to increase shareholder value remains a constant and very core of our day-to-day operations.

We have a fabulous CEO in Alberto Roscoe, and we have a great team in Mexico. For us, the shareholders of Riverside, this is a time that we can really, really be excited about the great upside and great potential of both Capitan Mining and Riverside Resources.

Maurice Jackson: In closing, sir, what keeps you up at night that we don’t know about?

John-Mark Staude: For us, one of the key things right now is the COVID and how long is this going to last? For us, we have to make sure that we always manage the company carefully, follow through with what’s needed. For us, we see the future is bright because we do see we’re getting through it but that’s very important that we don’t want anyone to get ill and we want to really look out after all the people in the communities that we live in and work.

Maurice Jackson: Finally, what did I forget to ask?

John-Mark Staude: Why is Erika here talking about the project? It’s because we’re so excited to these great young people to be a part of our team, and having taken the lead on our projects. Erika and peers are valuable additions in helping us to grow. Also, this is one of the first times you hear us talking about Mexico because we’re growing a lot in Canada this past year. Riverside continues to go strong in Canada. So we’re very excited by this but in Canada you’ll also see continued news flow coming out from Riverside.

Maurice Jackson: Riverside Resources (www.rivres.com) trades on the (TSX.V: RRI | OTCQB: RVSDF). Riverside Resources is a sponsor of Proven and Probable and we are proud shareholders of Riverside resources for the virtues conveyed in today’s message.

Before you make your next bullion purchase, make sure you call me. I’m a licensed representative for Miles Franklin Precious Metals Investments where we provide a number of options to expand your precious metals portfolio from physical delivery, offshore depositories, and precious metal IRAs. Call me directly at 855.505.1900 or you may email maurice@milesfranklin.com.

Finally, we invite you to subscribe to www.provenandprobable.com, where we provide Mining Insights and Bullion Sales.

Dr. John-Mark Staude and Erika Sweeney, thank you for joining us today on Proven and Probable.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Riverside Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Riverside Resources is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
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( Companies Mentioned: RRI:TSX.V; RVSDF:OTCQB,
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