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| Home : Riverside Resources Receives Additional $300,000 in Target Definition Funding from Alliance Partner Hochschild Mining to Advance Riverside's Clemente Project, Sonora, Mexico |
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Sep 09
2013 |
Riverside Resources Receives Additional $300,000 in Target Definition Funding from Alliance Partner Hochschild Mining to Advance Riverside's Clemente Project, Sonora, Mexico |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2013) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI) (PINKSHEETS:RVSDF) (FRANKFURT:R99), is pleased to announce that an additional $300,000 has been received from its alliance partner, Hochschild Mining Plc ("Hochschild"), for target definition at the Company's Clemente project in Sonora, Mexico. The additional funds will be used to carry out further mapping, geochemistry and trenching work this fall to refine targets ahead of potential drill testing in early 2014. Target Definition funding will provide Riverside and Hochschild an opportunity to further evaluate and advance Alliance properties as potential Designated Projects (DP's) before entering the earn-in stage of the agreement. Once a project is selected as a DP, Hochschild can earn a 65% interest by spending $5M in exploration over four years and making a one-time cash payment to Riverside of $3M. |
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| Source:http://www.marketwire.com/mw/release.do?id=1828500&sourceType=3 |
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