Riverside Resources Reports High-Grade Gold, Silver and Base Metal Assays from Phase 2 Field Work at La Union Project
Riverside Resources Confirms High-Grade Potential at La Union as Phase 2 Drilling Nears
The most recent news release from May 5, 2026, reports high-grade gold, silver, and base metal assay results from Phase 2 field work at the La Union Project in Sonora, Mexico. Key highlights include channel samples up to 91.7 g/t gold at the Union Mine and new target areas identified (Jabalí, La Negra, Ali Hill). This follows the April 1, 2026 announcement launching Phase 2 exploration funded by partner Questcorp. The company has secured site access and a drill contractor for an early summer 2026 drilling campaign.
Historical progression shows: - May 2025: Option agreement with Questcorp to earn 100% interest in La Union, providing up to C$5.5 million exploration funding. - Dec 2025: Private placement raised C$3.7 million, strengthening cash position and reducing dilution risk compared to brokered deals. - Jan 2026: Phase 1 drill results confirmed CRD-style mineralization with high-grade channel sampling (30m @ 20 g/t Au). - Mar 2026: Consolidation of Famosa concessions, securing full ownership with no royalties attached. - Apr 2026: Launch of fully funded Phase 2 program targeting follow-up drilling and geophysics.
The May 5 release validates the geological model established in Jan 2026 and confirms readiness for the scheduled summer drill campaign.
The news is categorized as Routine - Positive because it represents an expected milestone within the exploration cycle rather than a fundamental shift in company value or capital structure. While the assay grades (91.7 g/t Au) are exceptional, they are from channel sampling which typically reflects high-grade surface/underground mineralization but does not yet define bulk tonnage or reserves. The market has already priced in the potential of La Union following the Jan 2026 drill results and the Questcorp partnership announcement.
The materiality is limited by: - Exploration stage status (no resource estimate announced). - Dependency on upcoming drilling to confirm continuity of high-grade zones. - No new financing or major corporate transaction announced in this release.
However, the confirmation of multiple new target areas and the progression toward drilling maintains investor interest and supports the thesis that the project is advancing as planned without significant delays.
Riverside Resources operates as a project generator with a focus on Mexico (Sonora) and British Columbia. The flagship project is the La Union Project, a carbonate replacement deposit (CRD) gold-silver-polymetallic system. Other key assets include the Ariel Copper Project (porphyry potential), Red Jacket Project (VMS in BC), and Revel Project (REE). The company utilizes a "Data FIRST" strategy to minimize cash outlay while retaining upside through royalties and equity options.