Sampling map highlighting the presence of copper at Swift Katie (Image: Riverside Resources)

Sampling map highlighting the presence of copper at Swift Katie (Image: Riverside Resources)

Dr. John-Mark Staude's prospect generator, Riverside Resources (RRI:TSXV), has begun initial ground work at the Swift Katie prospect in BC.  The initiation of exploration at Swift Katie will focus on refining targets for a late summer drill campaign.  Of particular focus will be the new "Swift" target which is located 2km south of the historical Katie copper-gold porphyry deposit and is a 2km by 2km multi-element soil anomaly which the technical team at Riverside says has 'favourable geophysical characteristics'.

Riverside, along with their funding partner Chilean-copper giant Antofagasta Plc, are optioning an 80% interest in the Swift Katie project from Valterra Resources for a total of $5 million in work commitments over 4 years (only $350k to be spent by October 2014).  Riverside is getting a total of $1.8 million in generative exploration funding from Antofagasta to identify large copper deposits in BC.  Riverside is the operator of these exploration efforts.

Riverside’s President and CEO, John-Mark Staude, stated: “We are excited to get going with exploration in British Columbia (BC) and look forward to expanding on historic and known mineralization at the Swift Katie Cu-Au-Mo district. We believe there is plenty of exploration upside in the prospective corridor at Swift Katie. Progressing with our alliance partner, Antofagasta, funding the work, provides shareholders with low-cost potential for discovering and owning a major Cu-Au asset in BC.”

Riverside will expand on the October 2013 soil grid with an additional 300 samples to be taken and will cover the remaining 5km of strike on the potentially mineralized corridor.   Historic drill core from the Swift and Katie showings will also be re-logged as Riverside and Antofagasta work together to refine and rank targets for drill testing.

Historic drill core (Photo: Riverside Resources)

Historic drill core (Photo: Riverside Resources)

Three main outcropping mineralized areas have been delineated on the Swift Katie property and for many years they were each explored separately in claims with different ownership.  The most recent significant exploration work was done by Noranda and Falconbridge in the 1980's and 1990's.  The Katie deposit was the most tested prospect which has seen 71 drill holes (~20,000m) covering an area of 2.5km by 1.5km between the years 1987 to 2008.  The entire Swift Katie project covers an 11km by 3km trend that has seen little exploration work (outside of the Katie deposit).

Riverside and their team believe with the right exploration efforts (and Antofagasta's money) they will be able to find a significant copper porphyry.

Riverside has $5.5 million in the treasury, but will see $6 million spent this year between their partners Antofagasta (copper in BC and Mexico) and Hochschild (gold in Mexico)on early-stage exploration.

Read: Riverside Resources and Alliance Partner Antofagasta Commence Exploration in Preparation for Drilling at the Swift Katie Porphyry Copper Project in British Columbia, Canada