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The Karma Project
The Karma project is currently the most advanced of Riverstone's projects and is comprised of four contiguous permits - Goulagou, Rounga, Kao and Rambo - in the north-central region of Burkina Faso, approximately 100 km north-northwest of Ouagadougou.
The Company is on track to define between 1 million and 1.25 million ounces of near-surface gold in all categories in 2008 at Karma. (This estimate is based on the potential for gold resources in all categories of some 20 to 25 million tonnes containing an estimated average of 1.5 g/t gold which in turn is based on a reasonable projection of the results to date from drilling the mineralized zones on the Goulagou, Kao and Rambo permits and from the existing NI 43-101 resource estimates for the Goulagou deposits. The figures are intended to provide an indication of management's expectations and are conceptual in nature. To date, insufficient exploration has been undertaken to define this size of mineral resource and therefore it is uncertain whether the target will be delineated as a mineral resource.)
The Goulagou Property
The Goulagou property was acquired in October of 2007 under an Option to Purchase agreement with Golden Star Resources Ltd. The property has a NI43-101 compliant indicated resource of 280,000 ounces of gold with an average grade of 1.79 g/t gold and an inferred resource of 270,000 ounces of gold with an average grade of 1.49 g/t gold. Results of additional reverse circulation drilling by Riverstone will be included in the preparation of a new independent resource estimate in 2008
Click on image to enlarge
The Goulagou property consists of the Goulagou and Rounga permits which collectively comprise an area of 487 square kilometres. The property was explored extensively by Channel Resources from 1994-1999 and St. Jude Resources in 2002-2005. Together, the two companies drilled 51,000 metres in 717 holes. Golden Star Resources acquired the Goulagou property when it completed acquisition of St. Jude Resources in 2005.
Significant drill intersections on Goulagou are presented in the table below.
| HOLE # |
FROM |
TO |
INTERVAL |
ASSAY |
|
(metres) |
(metres) |
(metres) |
(g/t) |
|
| GLG-08-RC-001 |
42 |
44 |
2 |
6.02 |
|
| GLG-08-RC-003 |
90 |
150 |
60 |
2.45 |
| including |
116 |
148 |
32 |
3.81 |
|
| GLG-08-RC-004 |
38 |
48 |
10 |
3.62 |
|
| GLG-08-RC-011 |
80 |
90 |
10 |
3.62 |
|
| GLG-08-RC-013 |
64 |
90 |
26 |
3.34 |
|
| GLG-08-RC-014 |
116 |
144 |
28 |
4.21 |
|
| GLG-08-RC-015 |
102 |
138 |
36 |
1.18 |
| including |
102 |
110 |
8 |
2.25 |
| and |
124 |
130 |
6 |
2.95 |
|
| GLG-08-RC-016 |
82 |
92 |
10 |
1.01 |
| and |
120 |
140 |
20 |
1.99 |
|
| GLG-08-RC-019 |
2 |
52 |
50 |
2.24 |
| including |
8 |
24 |
16 |
3.88 |
|
| GLG-08-RC-020 |
26 |
110 |
84 |
2.00 |
| including |
26 |
62 |
36 |
3.70 |
| including |
36 |
50 |
14 |
6.29 |
| and |
90 |
110 |
20 |
1.02 |
|
| GLG-08-RC-025 |
142 |
150 |
8 |
3.14 |
The Rambo Kao Property
The Rambo Kao property comprises two contiguous permits, Rambo and Kao, covering 400 square kilometres. Drilling on Rambo has defined a 350 m long gold zone, which has been traced for 170 m down dip and which remains open in all directions. The Kao permit hosts a separate gold zone at least 1100 m long by 350 m wide defined by RC (Reverse Circulation) drilling, within a much larger geochemical gold anomaly. Both permits also show many coincident geochemical and geophysical targets that warrant further testing.
Rambo was the first permit acquired in the country by Riverstone, partly due to of a number of artisanal workings, the largest of which measures 60 m by 40 m by 15 m deep. Riverstone has completed soil geochemistry, geological mapping and sampling, limited ground geophysics and 2,089 m of RC and 2,003 m of diamond drilling since 2004 with very encouraging results.
Significant drill intersections on Rambo are presented in the table below. Two holes (97-01 and 97-11), which were drilled oblique to the zone by a previous operator, are also included.
| HOLE # |
FROM |
TO |
INTERVAL |
ASSAY |
|
(metres) |
(metres) |
(metres) |
(g/t) |
|
| RA-04-01 |
48.0 |
64.5 |
16.5 |
4.5 |
| Including |
60.0 |
63.0 |
3.0 |
11.1 |
| And |
73.5 |
75.0 |
1.5 |
13.9 |
|
| RA-04-02 |
63.0 |
84.0 |
21.0 |
1.2 |
| Including |
99.0 |
114.0 |
15.0 |
1.0 |
|
| RA-04-04 |
63.0 |
70.5 |
7.5 |
4.2 |
| Including |
67.5 |
70.5 |
3.0 |
7.7 |
|
| RA-04-05 |
87.0 |
99.0 |
12.0 |
7.0 |
| Including |
87.0 |
93.0 |
6.0 |
13.3 |
| And |
123.0 |
132.0 |
9.0 |
1.7 |
|
| RA-04-06 |
13.5 |
18.0 |
4.5 |
1.2 |
| Including |
36.0 |
37.5 |
1.5 |
1.0 |
|
| RA-04-07 |
73.5 |
79.5 |
6.0 |
16.4 |
| Including |
73.5 |
75.0 |
1.5 |
62.3 |
|
| RA-04-08 |
46.5 |
48.0 |
1.5 |
7.1 |
|
| 97-01 |
91.0 |
130.48 |
39.46 |
9.1 |
|
| 97-11 |
123.5 |
141.5 |
18.0 |
4.29 |
The Kao permit has undergone soil geochemistry, geological mapping and sampling and limited ground geophysics since 2005 plus 7,058 m of RAB and over 17,000 m of RC drilling in 166 holes in the past year.
Most of the drilling to date has been concentrated at the Kao Main Zone, an area of flat lying, near surface mineralization that has been traced over a 800 m by 400 m area so far. Shallow 100 m RC holes, together with a few deeper holes, have been drilled on a grid at 60 degrees in preparation for an independent resource estimate. The gold mineralized zone remains open in all directions, and limited additional drilling has traced this zone along an 1100 m strike length.
The RC drill results to date are found in the table below and the drill plan is illustrated in the attached figure.
| HOLE NO. |
FROM |
TO |
CORE INTERVAL |
GRADE |
|
(metres) |
(metres) |
(metres) |
(g/t gold) |
|
| KAO-07-RC-001 |
0 |
126 |
126 |
0.33 |
| including |
40 |
42 |
2 |
1.10 |
| and |
58 |
66 |
8 |
1.20 |
| and |
82 |
88 |
6 |
1.08 |
|
| KAO-07-RC-002 |
0 |
102 |
102 |
0.54 |
| including |
2 |
6 |
4 |
1.52 |
| and |
18 |
30 |
12 |
1.69 |
| and |
36 |
42 |
6 |
0.90 |
| and |
72 |
74 |
2 |
1.11 |
| and |
82 |
84 |
2 |
1.08 |
|
| KAO-07-RC-003 |
No significant intercepts |
|
| KAO-07-RC-004 |
0 |
96 |
96 |
0.59 |
| including |
14 |
38 |
24 |
1.36 |
| and |
54 |
64 |
10 |
1.26 |
|
| KAO-07-RC-005 |
0 |
138 |
138 |
0.29 |
| including |
14 |
26 |
12 |
0.86 |
| and |
14 |
16 |
2 |
1.30 |
| and |
22 |
26 |
4 |
1.09 |
| and |
62 |
64 |
2 |
1.30 |
|
| KAO-07-RC-006 |
0 |
102 |
102 |
0.45 |
| including |
0 |
30 |
30 |
1.22 |
| or |
2 |
18 |
16 |
1.62 |
|
| KAO-07-RC-007 |
0 |
108 |
108 |
0.38 |
| including |
10 |
12 |
2 |
1.14 |
| and |
28 |
30 |
2 |
1.48 |
| and |
84 |
92 |
8 |
1.26 |
|
| KAO-07-RC-008 |
10 |
12 |
2 |
21.46 |
|
| KAO-07-RC-009 |
50 |
70 |
20 |
0.55 |
|
| KAO-07-RC-012 |
0 |
138 |
138 |
0.50 |
| including |
56 |
66 |
10 |
3.55 |
| and including |
96 |
98 |
2 |
1.11 |
| and including |
126 |
132 |
6 |
1.05 |
|
| KAO-07-RC-013 |
14 |
16 |
2 |
1.13 |
|
| KAO-07-RC-014 |
30 |
32 |
2 |
2.83 |
| and |
54 |
66 |
12 |
1.03 |
| or |
60 |
66 |
6 |
1.53 |
| and |
78 |
80 |
2 |
1.90 |
|
| KAO-07-RC-016 |
32 |
40 |
8 |
2.20 |
|
| KAO-07-RC-017 |
16 |
18 |
2 |
1.01 |
| and |
60 |
64 |
4 |
6.77 |
|
| KAO-07-RC-019 |
48 |
56 |
8 |
1.07 |
| and |
116 |
118 |
2 |
1.18 |
|
| KAO-07-RC-020 |
58 |
60 |
2 |
1.28 |
|
| KAO-07-RC-027 |
18 |
36 |
18 |
0.92 |
| including |
34 |
36 |
2 |
30.1 |
| and |
68 |
70 |
2 |
1.13 |
|
| KAO-07-RC-028 |
52 |
54 |
2 |
1.63 |
| and |
76 |
88 |
12 |
0.78 |
| including |
78 |
80 |
2 |
1.95 |
|
| KAO-07-RC-029 |
24 |
44 |
20 |
0.95 |
| including |
30 |
44 |
14 |
1.18 |
| and |
56 |
62 |
6 |
1.27 |
| and |
70 |
72 |
2 |
1.87 |
|
| KAO-07-RC-030 |
48 |
50 |
2 |
1.68 |
| and |
72 |
106 |
34 |
1.08 |
| including |
72 |
80 |
8 |
1.60 |
| and including |
96 |
104 |
8 |
2.20 |
|
| KAO-07-RC-031 |
48 |
82 |
34 |
1.08 |
| including |
52 |
72 |
20 |
2.23 |
|
| KAO-07-RC-032 |
22 |
70 |
48 |
1.18 |
| including |
22 |
28 |
6 |
2.53 |
|
| KAO-07-RC-033 |
0 |
50 |
50 |
1.47 |
| including |
10 |
32 |
22 |
2.61 |
| and including |
42 |
48 |
6 |
1.36 |
|
| KAO-07-RC-034 |
34 |
36 |
2 |
1.05 |
|
| KAO-07-RC-035 |
122 |
124 |
2 |
1.78 |
|
| KAO-07-RC-037 |
22 |
40 |
18 |
0.45 |
|
| KAO-07-RC-039 |
0 |
2 |
2 |
2.24 |
|
| KAO-07-RC-042 |
34 |
44 |
10 |
0.55 |
| including |
40 |
42 |
2 |
1.56 |
|
| KAO-07-RC-044 |
48 |
56 |
8 |
1.25 |
|
| KAO-07-RC-047 |
2 |
26 |
26 |
0.58 |
| or including |
12 |
24 |
12 |
1.04 |
| or including |
20 |
22 |
2 |
2.74 |
|
| KAO-07-RC-049 |
0 |
32 |
32 |
0.62 |
| or including |
8 |
14 |
6 |
1.38 |
|
| KAO-07-RC-050 |
4 |
6 |
2 |
1.03 |
| and |
24 |
34 |
10 |
0.58 |
| including |
24 |
26 |
2 |
1.17 |
|
| KAO-07-RC-051 |
26 |
28 |
2 |
1.67 |
|
| KAO-07-RC-052 |
64 |
70 |
6 |
1.03 |
|
| KAO-07-RC-053 |
56 |
58 |
2 |
2.17 |
| and |
66 |
74 |
8 |
0.54 |
| and |
86 |
100 |
14 |
0.69 |
|
| KAO-07-RC-054 |
42 |
44 |
2 |
1.40 |
|
| KAO-07-RC-055 |
62 |
96 |
32 |
0.48 |
| including |
64 |
70 |
6 |
1.29 |
|
| KAO-07-RC-056 |
40 |
62 |
22 |
0.83 |
| including |
42 |
44 |
2 |
1.12 |
| and including |
54 |
62 |
8 |
1.34 |
|
| KAO-07-RC-057 |
26 |
28 |
2 |
1.81 |
| and |
34 |
44 |
10 |
1.30 |
|
| KAO-07-RC-059 |
8 |
16 |
8 |
1.06 |
|
| KAO-07-RC-061 |
0 |
96 |
96 |
0.52 |
| including |
14 |
32 |
18 |
0.91 |
| and including |
46 |
56 |
10 |
1.04 |
|
| KAO-07-RC-062 |
0 |
100 |
100 |
1.36 |
| including |
6 |
70 |
64 |
2.00 |
| including |
8 |
18 |
10 |
2.86 |
| or including |
26 |
56 |
30 |
2.26 |
|
| KAO-07-RC-063 |
0 |
108 |
108 |
0.55 |
| including |
44 |
70 |
26 |
1.77 |
| including |
52 |
70 |
18 |
2.35 |
|
| KAO-07-RC-068 |
0 |
102 |
102 |
0.72 |
| including |
50 |
96 |
46 |
1.45 |
| including |
70 |
96 |
26 |
2.05 |
| including |
72 |
86 |
14 |
2.68 |
|
| KAO-07-RC-069 |
0 |
96 |
96 |
0.60 |
| including |
38 |
74 |
36 |
1.33 |
| including |
46 |
68 |
22 |
1.79 |
|
| KAO-07-RC-070 |
0 |
96 |
96 |
0.75 |
| including |
14 |
38 |
24 |
1.73 |
| and including |
74 |
92 |
18 |
1.02 |
|
| KAO-07-RC-071 |
76 |
94 |
18 |
1.04 |
| including |
78 |
84 |
6 |
1.93 |
|
| KAO-07-RC-072 |
2 |
6 |
4 |
1.14 |
| and |
18 |
22 |
4 |
1.32 |
| and |
44 |
48 |
4 |
1.89 |
|
| KAO-07-RC-075 |
12 |
22 |
10 |
2.80 |
| and |
56 |
64 |
8 |
2.23 |
|
| KAO-07-RC-076 |
18 |
42 |
24 |
1.84 |
| including |
22 |
40 |
18 |
2.22 |
|
| KAO-07-RC-077 |
26 |
54 |
28 |
1.51 |
| including |
40 |
54 |
14 |
2.03 |
|
| KAO-07-RC-078 |
64 |
78 |
14 |
1.39 |
|
| KAO-07-RC-079 |
88 |
98 |
10 |
7.82 |
| including |
94 |
96 |
2 |
31.86 |
|
| KAO-07-RC-080 |
24 |
28 |
4 |
1.25 |
| and |
48 |
50 |
2 |
1.37 |
| and |
60 |
72 |
12 |
0.93 |
| including |
66 |
70 |
4 |
1.37 |
|
| KAO-07-RC-081 |
40 |
52 |
12 |
0.96 |
| including |
46 |
52 |
6 |
1.24 |
|
| KAO-07-RC-082 |
58 |
64 |
6 |
1.29 |
|
| KAO-07-RC-083 |
20 |
26 |
6 |
1.49 |
|
| KAO-07-RC-084 |
72 |
86 |
14 |
1.04 |
|
| KAO-07-RC-087 |
30 |
38 |
8 |
1.13 |
| and |
82 |
86 |
4 |
1.13 |
|
| KAO-07-RC-088 |
54 |
64 |
10 |
1.93 |
| and |
68 |
70 |
2 |
1.57 |
|
| KAO-07-RC-089 |
16 |
22 |
6 |
1.07 |
|
| KAO-07-RC-090 |
88 |
90 |
2 |
1.42 |
|
| KAO-07-RC-092 |
12 |
40 |
28 |
1.42 |
| or including |
24 |
28 |
4 |
2.78 |
|
| KAO-07-RC-093 |
24 |
28 |
4 |
1.29 |
| and |
46 |
50 |
4 |
2.07 |
|
| KAO-07-RC-094 |
24 |
34 |
10 |
1.62 |
| and |
50 |
68 |
18 |
1.15 |
| or including |
62 |
68 |
6 |
1.61 |
|
| KAO-07-RC-095 |
60 |
68 |
8 |
1.51 |
|
| KAO-07-RC-098 |
60 |
66 |
6 |
1.19 |
|
| KAO-07-RC-099 |
34 |
36 |
2 |
1.08 |
|
| KAO-08-RC-100 |
8 |
10 |
2 |
2.58 |
|
| KAO-08-RC-101 |
0 |
2 |
2 |
1.69 |
|
| KAO-08-RC-108 |
64 |
70 |
6 |
0.96 |
|
| KAO-08-RC-112 |
28 |
30 |
2 |
1.85 |
| and |
48 |
56 |
8 |
1.05 |
|
| KAO-08-RC-113 |
6 |
40 |
34 |
1.01 |
| including |
16 |
28 |
12 |
2.00 |
|
| KAO-08-RC-114 |
18 |
28 |
10 |
0.62 |
| and |
60 |
82 |
22 |
0.78 |
| including |
60 |
68 |
8 |
1.05 |
|
| KAO-08-RC-115 |
32 |
46 |
14 |
0.69 |
| and |
52 |
58 |
6 |
1.05 |
|
| KAO-08-RC-116 |
16 |
36 |
20 |
0.86 |
| including |
16 |
24 |
8 |
1.07 |
| or including |
30 |
36 |
6 |
1.36 |
| and |
72 |
92 |
20 |
0.71 |
|
| KAO-08-RC-118 |
0 |
100 |
100 |
0.70 |
| including |
0 |
22 |
22 |
2.75 |
| or including |
8 |
18 |
10 |
5.47 |
|
| KAO-08-RC-120 |
0 |
10 |
10 |
0.92 |
| and |
56 |
76 |
20 |
1.28 |
|
| KAO-08-RC-121 |
10 |
14 |
4 |
1.74 |
| and |
34 |
38 |
4 |
1.08 |
| and |
72 |
98 |
26 |
1.18 |
| including |
72 |
78 |
6 |
2.35 |
|
| KAO-08-RC-122 |
66 |
68 |
2 |
1.03 |
| and |
84 |
88 |
4 |
2.04 |
|
| KAO-08-RC-123 |
94 |
106 |
12 |
1.88 |
|
| KAO-08-RC-124 |
100 |
114 |
14 |
2.22 |
|
| KAO-08-RC-125 |
92 |
103 |
11 |
1.30 |
|
| KAO-08-RC-127 |
88 |
90 |
2 |
1.11 |
|
| KAO-08-RC-129 |
98 |
104 |
6 |
1.02 |
|
| KAO-08-RC-131 |
80 |
82 |
2 |
1.01 |
|
| KAO-08-RC-136 |
38 |
42 |
4 |
2.30 |
| and |
92 |
104 |
12 |
16.70 |
|
| KAO-08-RC-137 |
106 |
108 |
2 |
2.94 |
|
| KAO-08-RC-138 |
54 |
90 |
36 |
1.52 |
| including |
74 |
90 |
16 |
2.15 |
|
| KAO-08-RC-142 |
14 |
18 |
4 |
1.22 |
|
| KAO-08-RC-144 |
20 |
26 |
6 |
1.31 |
|
| KAO-08-RC-145 |
72 |
86 |
14 |
0.98 |
|
| KAO-08-RC-146 |
20 |
22 |
2 |
1.05 |
|
| KAO-08-RC-147 |
12 |
14 |
2 |
1.05 |
| and |
34 |
44 |
10 |
1.31 |
| and |
58 |
64 |
6 |
1.06 |
|
| KAO-08-RC-148 |
20 |
22 |
2 |
1.05 |
| and |
76 |
82 |
6 |
1.20 |
| and |
88 |
90 |
2 |
1.39 |
| and |
98 |
108 |
10 |
0.73 |
|
| KAO-08-RC-150 |
36 |
44 |
8 |
0.83 |
|
| KAO-08-RC-151 |
96 |
124 |
28 |
1.48 |
|
| KAO-08-RC-152 |
64 |
74 |
10 |
1.06 |
|
| KAO-08-RC-153 |
118 |
138 |
20 |
1.36 |
|
KAO-08-RC-154
including
or including |
86
86
102 |
108
90
108 |
22
4
6 |
0.66
1.20
1.32 |
|
| KAO-08-RC-155 |
80 |
112 |
32 |
0.86 |
|
KAO-08-RC-158
including
and
including |
16
22
116
116 |
34
26
126
120 |
18
4
10
4 |
0.83
1.97
2.56
5.67 |
|
KAO-08-RC-160
and
including |
6
18
34 |
8
44
40 |
2
26
6 |
1.99
1.04
2.37 |
|
KAO-08-RC-161
and
and |
18
38
94 |
22
46
108 |
4
8
14 |
1.17
11.18
1.51 |
|
| KAO-08-RC-162 |
76 |
84 |
8 |
1.43 |
|
KAO-08-RC-163
and |
32
76 |
36
78 |
4
2 |
1.21
1.05 |
|
KAO-08-RC-165
and |
10
52 |
18
62 |
8
10 |
1.16
0.85 |
The gold zones delineated by drilling remain open in all directions. They occur within a larger gold-in-soils geochemical anomaly, which can be traced along strike for over 4 kilometres.
|
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