Riverside Resources Announces the Launch of Blue Jay Resources and Its Ontario Gold Project Portfolio
Riverside Resources (RVSDF) announces the transfer of three Ontario gold properties - Pichette, Oakes, and Duc - to its wholly-owned subsidiary, Blue Jay Resources. The company plans to establish Blue Jay as a standalone exploration company through a potential spinout in 2025. Geordie Mark will lead Blue Jay as CEO, with plans for a targeted drill campaign in H1 2025. Riverside will retain a 2% NSR on each project. The properties are strategically located near Equinox Gold's Greenstone Gold project, Canada's 4th largest open pit gold mine. The spinout structure may include issuing Blue Jay shares to Riverside shareholders, though final terms are pending.
Riverside Resources (RVSDF) annuncia il trasferimento di tre proprietà d'oro in Ontario - Pichette, Oakes e Duc - alla sua controllata Blue Jay Resources. L'azienda prevede di stabilire Blue Jay come una società di esplorazione autonoma attraverso un possibile scorporo nel 2025. Geordie Mark guiderà Blue Jay come CEO, con piani per una campagna di perforazione mirata nel primo semestre del 2025. Riverside manterrà un NSR del 2% su ciascun progetto. Le proprietà sono strategicamente situate vicino al progetto di potenza d'oro Greenstone di Equinox Gold, il quarto più grande progetto minerario d'oro a cielo aperto del Canada. La struttura di scorporo potrebbe includere l'emissione di azioni di Blue Jay agli azionisti di Riverside, sebbene i termini finali siano in attesa.
Riverside Resources (RVSDF) anuncia la transferencia de tres propiedades de oro en Ontario - Pichette, Oakes y Duc - a su subsidiaria de propiedad total, Blue Jay Resources. La empresa planea establecer a Blue Jay como una compañía de exploración independiente a través de una posible escisión en 2025. Geordie Mark liderará Blue Jay como CEO, con planes para una campaña de perforación específica en la primera mitad de 2025. Riverside mantendrá un NSR del 2% en cada proyecto. Las propiedades están estratégicamente ubicadas cerca del proyecto de oro Greenstone de Equinox Gold, la cuarta mina de oro a cielo abierto más grande de Canadá. La estructura de escisión podría incluir la emisión de acciones de Blue Jay a los accionistas de Riverside, aunque los términos finales están pendientes.
리버사이드 리소스 (RVSDF)는 온타리오주의 세 개의 금 자산 - 피셋, 오크스, 그리고 듀크 - 를 완전 소유 자회사인 블루 제이 리소스에 이전한다고 발표했습니다. 이 회사는 2025년에 가능한 분사를 통해 블루 제이를 독립적인 탐사 회사로 설립할 계획입니다. 조디 마크는 블루 제이를 CEO로 이끌 예정이며, 2025년 상반기에 목표로 하는 드릴 캠페인을 계획하고 있습니다. 리버사이드는 각 프로젝트에 대해 2%의 NSR을 유지합니다. 이 자산들은 캐나다에서 네 번째로 큰 금광인 에퀴녹스 골드의 그린스톤 골드 프로젝트 근처에 전략적으로 위치해 있습니다. 분사 구조에는 리버사이드의 주주들에게 블루 제이 주식을 발행하는 것이 포함될 수 있지만, 최종 조건은 보류 중입니다.
Riverside Resources (RVSDF) annonce le transfert de trois propriétés d'or en Ontario - Pichette, Oakes et Duc - à sa filiale entièrement détenue, Blue Jay Resources. L'entreprise prévoit d'établir Blue Jay en tant que société d'exploration autonome par le biais d'une éventuelle scission en 2025. Geordie Mark sera le PDG de Blue Jay, avec des projets pour une campagne de forage ciblée au premier semestre de 2025. Riverside conservera un NSR de 2% sur chaque projet. Les propriétés sont stratégiquement situées près du projet d'or Greenstone d'Equinox Gold, la quatrième plus grande mine d'or à ciel ouvert au Canada. La structure de scission pourrait inclure l'émission d'actions Blue Jay aux actionnaires de Riverside, bien que les conditions finales soient encore en attente.
Riverside Resources (RVSDF) gibt die Übertragung von drei Goldprojekten in Ontario - Pichette, Oakes und Duc - an seine hundertprozentige Tochtergesellschaft Blue Jay Resources bekannt. Das Unternehmen plant, Blue Jay als eigenständiges Erkundungsunternehmen durch eine mögliche Abspaltung im Jahr 2025 zu etablieren. Geordie Mark wird Blue Jay als CEO führen, mit Plänen für eine gezielte Bohrkampagne im ersten Halbjahr 2025. Riverside wird eine 2% NSR an jedem Projekt behalten. Die Liegenschaften liegen strategisch nahe dem Goldprojekt Greenstone von Equinox Gold, der viergrößten Goldmine im Tagebau in Kanada. Die Abspaltungsstruktur könnte die Ausgabe von Blue Jay-Aktien an die Riverside-Aktionäre umfassen, obwohl die endgültigen Bedingungen noch ausstehen.
- Strategic location near Canada's 4th largest open pit gold mine
- Riverside retains 2% NSR on all transferred properties
- Potential shareholder value creation through planned spinout structure
- Final terms of spinout structure not yet determined
- Drill campaign delayed until H1 2025
Intention to Spinout Blue Jay in 2025
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce the completed transfer of its three key Ontario gold properties: Pichette, Oakes, and Duc to its wholly-owned subsidiary, Blue Jay Resources Inc ("Blue Jay"). This move lays the groundwork for Riverside's strategic plan to advance its Ontario portfolio by establishing Blue Jay as a standalone exploration company. Blue Jay can fully focus on the exploration, discovery, and value-creation potential that these assets deserve. This structure provides Riverside shareholders with exposure to potential gains, while also paving the way for capital investment aimed at unlocking value in these properties.
This approach is similar to Riverside's past strategy with Capitan Silver Corp. ("CAPT"), where Riverside shareholders received shares of CAPT, which gained value as exploration progressed successfully. Now, Blue Jay offers another opportunity to further unlock shareholder value, while Riverside retains a
Blue Jay is led by Geordie Mark as Chief Executive Officer, with the company in the final stages of appointing its Chairman, John-Mark Staude, along with a strong lineup of board of directors. Geordie brings extensive experience in the mining industry, with leadership roles spanning exploration, academia, and financial markets. He has spent over 15 years as a mining analyst on both the buy and sell sides in North American equity markets. Under Geordie's leadership, Blue Jay will leverage Riverside's Ontario-based gold assets and is already working on an exploration strategy, with plans to initiate a targeted drill campaign during H1 2025.
"We are excited to see Blue Jay Resources rapidly progress towards becoming a focused exploration company, dedicated to advancing this quality portfolio of Ontario gold assets. This spinout provides our shareholders with exposure to a new vehicle for value creation, while Riverside retains upside through a
Geordie Mark, CEO of Blue Jay Resources, stated, "I'm thrilled by the opportunity to lead Blue Jay as we explore Ontario's well-established Beardmore-Geraldton greenstone belt, especially in such a proactive mining jurisdiction. Both the Pichette and Oakes projects are strategically positioned near the Equinox Gold Greenstone Gold project, Canada's 4th largest open pit gold mine, which emphasizes the potential of this area. Our team is committed to realizing the value of these assets through a focused exploration strategy, and we're eager to expand our work."
The proposed spinout structure includes Riverside potentially issuing shares of Blue Jay to Riverside shareholders, allowing them direct ownership in the new exploration-focused entity. While terms of the spinout are under consideration and have not been finalized, Riverside's intention is to ensure shareholders can benefit from the success of both Riverside and Blue Jay Resources and provide positive upside for the growth of both companies.
About the Projects:
Pichette Project
The Pichette Gold Project, covering approximately 1190 hectares, is situated in the prolific Geraldton-Beardmore Greenstone Belt of Northwestern Ontario, a renowned gold-producing region in Canada. This
Historical drilling at Pichette, primarily conducted in the 1950s, intersected shallow high-grade gold mineralization, including notable intercepts such as 3.4 meters at 16.7 g/t Au and 3.2 meters at 4.8 g/t Au, associated with banded iron formations ("BIF"). These BIF structures, which span over 15 kilometers of interpreted trend across the project, remain largely untested at depth, with gold mineralization open along strike. Positioned for efficient exploration, Pichette has road access via the Trans-Canada Highway and benefits from existing regional infrastructure. The assay information is historic in nature and will be retested as part of the planned work for Blue Jay to carry out in 2025.
Oakes Project
The Oakes Gold Project, located within the productive Geraldton-Beardmore Greenstone Belt in Northwestern Ontario, sits 20km east of the Equinox Gold's Greenstone Gold Mine. The project is approximately 5200 hectares in size and hosts a series of parallel favorable geology and shear zones with gold mineralization identified along its length. Historical drilling and recent surface sampling have returned high-grade gold values, with drill intercepts of up to 8 g/t Au and surface assays over 30 g/t Au. Geophysical surveys, including magnetics and induced polarization, have mapped several fault zones and structural features aligned with known geological units, offering significant exploration potential.
The project is accessible with robust local infrastructure, including roads, train line and power, which supports low-cost exploration efforts. The future exploration program could expand on previous findings by further testing mineralized zones along strike and at depth, positioning Oakes as a strong candidate for additional high-grade gold discoveries in a historically productive district.
Duc Project
The Duc Project is located in the Porcupine Mining Division, approximately 50 km southwest of Kapuskasing, Ontario. Covering 580 hectares, it sits within the highly prospective Kapuskasing Structural Zone, near the open-pit phosphate mine of Agrium Ltd. The property is underlain by a mix of metasedimentary and metavolcanic rocks, with potential for gold and rare earth element (REE) mineralization. Recent exploration, including a 2023 helicopter magnetics survey, has confirmed key structural elements and identified promising areas for follow-up targeting work.
The Company is leading exploration efforts at Duc, focusing on gold mineralization and potential platinum group metals (PGMs). Historical drilling and geophysical data suggest significant gold and nickel potential, while current geophysical surveys have highlighted new targets. Planned work includes further integration of the new geophysical surveys, geochemical analysis, and then drilling to refine these targets and advance the project towards more detailed exploration.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources who is responsible for ensuring that the information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the 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.
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FAQ
What properties did Riverside Resources (RVSDF) transfer to Blue Jay Resources?
When is Blue Jay Resources planning to start its drill campaign?
What royalty will Riverside Resources (RVSDF) retain on the transferred properties?
When is Riverside Resources (RVSDF) planning to spinout Blue Jay Resources?
