Maurice Jackson: Welcome to Proven and Probable. I'm Maurice Jackson. Joining us for conversation is Dr. John-Mark Staude, the president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB).
It is a pleasure to be speaking with you. Riverside has some updates for shareholders regarding the second phase of targeting at the Oakes project, which is the first in a series of new projects that Riverside Resources has added to the property bank in Ontario. Dr. Staude, for someone new to the story, introduce us to Riverside Resources and the opportunity the company presents to the market.
Dr. John-Mark S: Riverside's a prospect generator. We're working in Canada, working in a major gold region and have the opportunity to be exposed to multiple different projects through partner programs. We also work in Mexico; we have BHP, multiple partners in Mexico, as well. Shareholders of Riverside have a diversified portfolio opportunity by buying and owning shares of Riverside.
Maurice Jackson: John-Mark, take us to western Ontario to the Oakes project where Riverside has just completed its second round of exploration. What can you share with us regarding drill targets and results?
Dr. John-Mark S: Riverside's working around Lake Superior on the northern side on the corner of this map and it's in the western part of Ontario, the province to the north of us is the project and the whole mining district of Red Lake, which has had big results, Timmins gold is just to the east of us and that's had over 75 million ounces of production. The Greenstone belt, that's the boundary of some of these geological terranes on the image above, which is the key area around the Geraldton Mine. What's important to note is that the Geraldton mine district has over 8 million ounces of gold and the Black Interstate stretches from Eastern Canada to Western Canada and it is right by the Oakes project.
The Oakes Project is in a good location geologically and infrastructure wise; it just doesn't get better right next to the Trans-Canada highway.
Maurice Jackson: John-Mark, what are we taking a look at here with regards to the Oakes project?
Dr. John-Mark S: The Oakes Project lines are identified here in brown. The VLF trends are the historical, very long low-frequency geophysical anomalies that we see in the detailed survey. We have good continuity between two sets of surveys that we've done to different lines and it's so far going over 2.6 kilometers of a major structural zone. In that structural zone similar to other big mines in the region and big mines in Canada, the VLF anomaly, which is a conductive geophysical anomaly, has high-grade trench samples of 20 grams, even 30 grams of gold, very high-grade gold on Riverside's projects.
Riverside is finding gold on the surface and now we see multiple other targets in here that were coming up and much greater continuity. So that's a very exciting step in the geophysics and an exciting step for the project because it's showing us that these projects could be now over two kilometers and this high-grade gold that goes underneath shallow cover. There are no outcrops, this really gives good potential for drilling. We are actively looking for partner drilling to explore these targets now; we're very excited by this development at the Oakes project.
Maurice Jackson: Speaking of partners, looking forward, how does a prospective JV partner benefit from the refinement of these real targets?
Dr. John-Mark S: There are a number of virtues for a prospective JV partner. First is the location. Combine the location with the real benefit of having the following data, such as the trench data, the geophysical data, the field data, the mapping, and even the geological. And here we have some geological features that show us why there are breaks, allow us to figure out, okay, we have drill targets now, so we have this historical data ready to drill and what they really do is have this big upside. If this can go over two kilometers, this can be giant, really great, unbounded at depth. That's the way these targets are. They have great depth to go but along strike it can be excellent as well, so a partner really can see this now as a turnkey, ready-to-go project just as Riverside as our business model focuses on doing.
Maurice Jackson: John-Mark, can you share with us or have any partners or prospective partners, I should say, contacted you regarding the Oakes project?
Dr. John-Mark S: We have. Right now we're wrapping up the year and starting 2020, and we're getting lots of interest because people realize it's such an accessible project. Secondly, because it's a project in Canada for 2020, people that have flow-through financing are looking for a really good project where there can be certainty that they can get there and could drill into some good geophysical features. These features here that we see on these maps that we can now put together give certainty that we know we have geophysics, we know we have good targets, we're getting some good interest and we're looking forward to working with those people. We have a number of conferences coming up early in 2020, and so we definitely see that this is going to be a great way to go on the project.
Maurice Jackson: John-Mark, Riverside conducted some mapping and survey work last month. What were you able to discover?
Dr. John-Mark S: While conducting the mapping, we were able to discover greater continuity of gold mineralization identified on this geological map, these trends extend over two kilometers and the second on the map goes for almost two and a half kilometers; these are big kilometer-long zones of mineralization. The mapping is finding greater continuity of high grade and greater continuity of geological targets.
The above image is from the site, and allows us to see isoclinal folds in mapping some displacement by Cross Fitting structures; here in the mapping we see some of the sheers. These things are allowing us to therefore see that the mapping is being able to develop greater extension from the gold we saw on the surface and we have sampling now to start to see it fits with the drill targets.
When we come back in and look in this bigger belt, we realize that we're in a big belt with big potential. Similar to what you're seeing at the Geraldton District. We're seeing that over here at our Long Lac and our Oakes project. This is what the mapping is really showing that we have good detailed maps fitting in with the big regional structure that's showing us that, yeah, this is now getting to be a really exciting drill target for partners.
Maurice Jackson: Does today's press release impact the genetic or exploration model on the Oakes project?
Dr. John-Mark S: It doesn't change it but it makes it better. I think the thing that it really helps us with is to see from the geophysics that we can go down deeper into the structures and or confirm a genetic perspective. We can see that definitely we have the chance to have a big system. We're very excited by this geophysical data and by the greater sampling, that really helps us see that this can be bigger, so it doesn't change the genetic but it fits with the genetic and it makes it seem even bigger as the target size.
Maurice Jackson: John-Mark, what is the next unanswered question for Riverside Resources? When could we expect an answer and what will determine success?
Dr. John-Mark S: Here at the Oakes project, the unanswered question is now can we get partners? And secondly with drilling and exploration, we see that as big scale now is drill ready. So we're ready now with the focused drill program, which can easily be done to see if we can expand and make a big discovery. For Riverside, the next unanswered question fits in part with BHP. With BHP this coming week we'll be doing presentations and looking for additional funding. We have a steady flow of base funding and that's going well. Now we can get with BHP to fund even more aggressive exploration in Mexico, and another unanswered question is the Los Cuarentas project for Riverside where we having been sampling the field and we'll look forward early in 2020 to have sample results leading towards drill targeting there.
Riverside has a flow of new results, a number of unanswered questions and we're looking forward to 2020 early in the year to having a lot of good flow of news and multiple projects in part with partners' funding. We're really excited for where we are at Riverside right now.
Maurice Jackson: Before we close, John-Mark, please provide us with an update on the capital structure.
Dr. John-Mark S: The capital structure continues to be the same. A tight share structure with 63 million shares out, still with a good cash position of over $2.5 million cash, no debt. Still we run the company tight and carefully and we're delighted to do that as we look into 2020 as well.
Maurice Jackson: Dr. Staude, for someone listening who wants to get more information on Riverside Resources, please share the contact details.
Dr. John-Mark S: Please come to the website, that's www.rivres.com, or please phone us at (778) 327-6671. We'd love to speak to you. We're delighted for anyone coming and putting any questions to the website
Maurice Jackson: And as a reminder, Riverside Resources trades on the TSX.V: RRI | OTCQB: RVSDF.
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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.
Dr. John-Mark Staude of Riverside Resources, 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.[NLINSERT]
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