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Riva Announces Exploration and Drill Results for its Honey Camp Property

July 22, 2011

VANCOUVER, July 22, 2011 /PRNewswire/ – Riva Gold Corporation (TSX-V: RIV) (“Riva” or “the Company”) announces results from its mapping, trenching
and diamond drill program on its Honey Camp Property.  Three historical
vein systems, the Rainbow, Alma and Camp veins,  located within a 2.4
kilometre by 0.9 kilometre area on the Honey Camp Property (the
“Area”), were tested by mapping and trenching followed by 16 diamond
drill holes totalling 2,886 metres (of which two holes were abandoned
due to poor ground conditions). Two additional historical vein systems
within the Area, the Brian & Brenda and Sobers Hills veins, were
examined by mapping and trenching. The five historic vein systems are
all hosted in sheared, quartz-carbonate alteration zones, cross-cutting
lavas, tuffs and sediments.

“We are encouraged by the surface results that we have received from the
historical vein systems we have been focusing on,” commented Richard
Warke, Riva’s chairman and CEO. “However, more work needs to be
completed on the Honey Camp Property to help us more fully understand
the geological structure of the area and is an important step in order
to determine our focus going forward.”

Riva focused its exploration efforts on the five historical vein systems
within the Area. The mapping, trenching and diamond drilling results
from the three historical vein systems are summarized below:

Rainbow Vein System

The Rainbow vein system (the “Rainbow Veins” or “Rainbow”) is the
centrally located southern most historical vein system in the Area and
indicates a strike length of 395 metres, of which 200 metres was tested
by four trenches and nine diamond drill holes totalling 1,516 metres
(two drill holes were abandoned due to poor ground conditions).  The
area of veining corresponds with a significant potassium radiometric
anomaly.

The trench and drill hole results from the five sections across the
Rainbow Veins identified significant surface assay results in trench
RB-#1 (0.91 g/t Au over 22.00 metres) and lower drill intersection
assay values (the most significant demonstrated in DDH RB-11-01
returning 0.91 g/t Au over 0.50 metres and 1.07 g/t Au over 1.00
metres). Trenching and drilling were completed along five sections
approximately 50 metres apart.

Results indicated the principle vein orientation on Rainbow strikes 110
degrees, dipping 50 degrees south. The principle vein orientation is
intersected by other vein orientations and these intersections may
control the gold distribution within the quartz veins. The higher grade
surface assay values may result from a more complex geometry that does
not appear to extend vertically within the principle vein system.

Alma Vein System

The Alma vein system (the “Alma Veins” or “Alma”), the most easterly of
the historical veins in the Area, has been tested by four trenches and
four drill holes totalling 809 metres.  Drilling was completed along
three sections across the Alma mineralization defining a confirmed
strike length of 88 metres.  A geophysical interpretation indicates the
Alma structure extends in the 290 degree direction to the Sobers Hill
quartz veining, a zone 250 metres to the north northwest (the “Sobers
Hill Veins”).

Channel samples obtained from the Alma trenches typically had fewer
assay values greater than 0.80 g/t Au and the intervals greater than
0.80 g/t Au occurred over narrower widths than anomalous intervals at
the Camp Veins (defined below) or Rainbow Veins. The most significant
trench assay values were obtained from trench A-#3 in two separate
intervals (0.93 g/t Au over 1.00 metres and 7.46 g/t Au over 1.88
metres) while the drill intersection in DDH-A-11-02 below the trench
has similar true thicknesses (1.04 g/t Au over 4.40 metres and 1.02 g/t
Au over 5.00 metres).

Mapping identified two styles of quartz veining present at Alma: steeply
dipping veins striking approximately 110 degrees and shallow dipping
veins striking approximately 90 degrees extending up to 45 metres away
from the near vertical veining.  The vertical veining follows a
magnetic low extending to the north northwest toward the Sobers Hill
Veins. Coarse gold was recovered from the alluvial workings and high
grab sample assays were obtained from both styles of quartz veins. 
This suggests there may be a greater coarse gold contribution than in
the other two areas drilled.

Camp Vein System

The Camp vein system (the “Camp Veins”), the most south-westerly of the
historical veins in the Area, has been tested by six trenches and three
drill holes totalling 559 metres.  The Camp Veins have more exposed
veining and more identified vein orientations than the Rainbow Veins,
Alma Veins and Sobers Hill Veins. The depth extent of the Camp Veins
was tested by three drill holes beneath three of the trenches.  The
lithologies, structural style and significant trench assay results in
trench CV-#1 (3.45 g/t Au over 22.70 metres) do not extend to depth as
observed in drill hole intersection CV-11-01 (1.50 g/t Au over 1.00
metre).

Some of the high trench samples were relatively intact quartz veins
(some containing primary sulphides) whose high values cannot be
attributed to bulk density changes or saprolite enrichment.  A
structural analysis of exposed quartz veins in the trenches and from
oriented core has concluded several possible shallow dipping
orientations for the high assay trenched veins that do not extend
vertically to where the drill holes intersected the south dipping shear
zone and associated quartz veining.

Brian & Brenda Vein System and Sobers Hill Vein System

In addition to the above, there was mapping and trenching at the Brian &
Brenda Veins, which is located between the Camp and Rainbow Veins. The
most significant assay result obtained from the Brian & Brenda Veins
was a 0.86 g/t Au channel sample over 0.50 metres. Trenches at Sobers
Hill Veins exposed similar vein structures and orientations as observed
at Alma trench S-#1 yielding the best result of 5.18 g/t Au over 6.00
metres.

Further to the historical vein systems which were the original targets,
reconnaissance mapping, grab sampling and five trenches have tested new
targets identified from the airborne geophysical survey. Some of these
targets consist of wide alteration zones and quartz veining, adjacent
to artisanal workings. Some assay results from grab samples have shown
significant results (1.58 g/t Au Stream 135, 1.13 g/t Au target X3).

The Company has determined that Honey Camp requires more detailed work
to complete a correlation between structures and/or lithological
controls observed in the significant assay values of the surface trench
results relative to the narrower and lower assay values returned from
the diamond drill core intersections.  A preliminary assessment
suggests that the significant gold values may occur either at the
intersection of two vein systems or where the vein systems cross more
massive volcanic lithologies.

Riva is currently also assessing the work required to initially evaluate
the Puruni Property which is a large, grassroots land package of 60,240
acres approximately 14 kilometres northwest of Sandspring Resources
Ltd.’s Toroparu project. The property, which covers a topographic high
in the headwaters of the Puruni River, a historically prolific producer
of alluvial gold, is now being prospected and accessed by the Pereira
family for alluvial gold production. Various methodologies are being
considered such as airborne geophysical surveys and/or stream sediment
sampling followed by focused soil geochemistry programs, surface
mapping and sampling.

Review by Qualified Person, Quality Control and Reports
All technical information discussed in this press release has been
reviewed, verified and compiled by Hendrik Veldhuyzen, P.Geo., a
qualified person as defined by National Instrument 43-101 of the
Canadian Securities Administrators (NI 43-101). Mr. Veldhuyzen is a
consulting geologist retained by the Company.  He is a member of APEGBC
and OGQ and has a B.Sc. and M.Sc. in geology.

Quality Assurance/Quality Control
Throughout this document, a 0.80 g/t weighted assay value was used to
define intervals of interest.  Significant intervals started and ended
with assay values >0.80 g/t Au.

All of the samples from the work on the Honey Camp property were
delivered to the preparation lab of Acme Analytical Laboratories Ltd.
(“Acme Labs”) in Georgetown, Guyana. QA/QC procedures entailing at
least one prepared standard sample, one duplicate and a blank per 32
samples submitted. The prepared pulps for fire assay were shipped to
Acme Labs’ facilities either in Vancouver, Canada or Santiago, Chile
where a standard fire assay with AA finish is completed on 30 grams of
prepared pulp. Samples analysing over 3.0 grams per tonne are re-run
using 30g standard fire assay with a gravimetric finish. All three of
these Acme Labs facilities are registered under ISO 9001.

About Riva
Riva is a Canadian mineral exploration company focusing on opportunities
in Guyana and controls a total of 125,799 acres of land which includes
the newly acquired and prospective Nine Mile and Honey Camp Properties.
Guyana’s under-explored and under-developed mining sector represents a
unique opportunity for Riva to identify and develop new gold
discoveries.  Riva trades on the TSX Venture Exchange under the symbol
“RIV”.

FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include, but are not limited to, statements or information
with respect to: the exploration and development of the mineral
properties being acquired by the Company; the Company’s future business
and strategies; and expectations regarding the ability of the Company
to close the acquisition.

Often, but not always, forward-looking statements or information can be
identified by the use of words such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate” or
“believes” or variations of such words and phrases or statements that
certain actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved. With respect to forward-looking
statements and information contained herein, we have made numerous
assumptions including among other things, that no significant adverse
changes will occur to our planned exploration expenditures, that there
will be no significant delays of the completion of our planned
exploration programs; as to the continuing availability of capital
resources to fund our exploration programs; and that the Company will
not experience any adverse legislative or regulatory changes. Although
our management believes that the assumptions made and the expectations
represented by such statement or information are reasonable, there can
be no assurance that any forward-looking statement or information
referenced herein will prove to be accurate. Forward-looking statements
and information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statement or information. Such risks, uncertainties and
other factors include, among other things: general economic, market and
business conditions; land use rights; adverse industry events; the
ability of the Company to acquire additional mineral properties of
merit; seasonality and weather conditions; and currency fluctuations.

Although we have attempted to identify factors that would cause actual
actions, events or results to differ materially from those disclosed in
the forward-looking statements or information, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. Also, many of the factors are beyond the control
of the Company. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company undertakes no
obligation to reissue or update any forward-looking statements or
information as a result of new information or events after the date
hereof except as may be required by law. All forward-looking statements
and information herein are qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
 

SOURCE Riva Gold Corporation


Source: newswire



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