Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has completed acquisition and title transfer of the Maria Luisa Copper Property immediately north of Riverside’s Ariel Property thus consolidating another 30% and direct drill target for the full Ariel project. With this acquisition Riverside has now fully consolidated the highly prospective Laramide age porphyry Cu-(Au, Mo) district and now controls an area of 16 sq km. The Ariel project has had mineral exploration by Riverside including mapping, sampling, geochemistry, mineral chemistry, remote sensing, geophysical interpretations and is fully permitted for drilling. It represents a turnkey, undrilled, high quality drill target 18 kms immediately east and within sight of Mexico’s 2nd largest copper mine, the La Caridad Copper Mining Complex, operated for the past 40 years by Grupo Mexico Mining.
Concessions and Transaction
The Ariel project is now consolidated into five concessions that in total cover an area of 1,640 hectares (16 sq km).
| CONCESSION | OWNER | TITLE | HAS | VALIDITY | |
| ARIEL | RRM Exploracion SAPI de CV | 245325 | 1,241.98 | 23/11/2016 | 22/11/2066 |
| MARIA LUISA | RRM Exploracion SAPI de CV | 237383 | 100.00 | 09/12/2010 | 08/12/2060 |
| MARIA LUISA | RRM Exploracion SAPI de CV | 237384 | 99.49 | 09/12/2010 | 08/12/2060 |
| MARIA LUISA | RRM Exploracion SAPI de CV | 237385 | 99.63 | 09/12/2010 | 08/12/2060 |
| MARIA LUISA | RRM Exploracion SAPI de CV | 237386 | 99.63 | 09/12/2010 | 08/12/2060 |
The transaction to acquire the Maria Luisa Copper Property was finalized this quarter.and has now been officially registered with the Mexican Direction of Mines and titles transferred to Riverside. The title registration was completed in May 2024 under Riverside SAPI, the company based in Mexico as now the full title holder of the Maria Luisa concessions. Riverside resolved outstanding tax issues for the previously private owner, completed required filings and then reimbursed the property owner minus those costs with a total payment of USD$200,000 with no royalty or retained interest, giving Riverside 100% control. All concessions are now in good standing with data available. The Company has now also completed the updating of the drill permitting to cover both the Maria Luisa and Ariel drill targets with drill permit in hand which sets up Riverside for a strong H2 2024 for this property. The mineral title map is shown below with the acquired tenures, the color loops indicate favorable target criteria which are now able to be drill tested.
Continue Reading at Riverside Resources
