Riverside Resources and Questcorp Prepare Phase 2B Exploration Drill Program at La Union Project, Sonora
Riverside shifts Phase 2B drilling to RC for efficiency at La Union, fully funded by Questcorp.
Riverside Resources Inc. (RRI) and partner Questcorp Mining are preparing to launch Phase 2B exploration drilling at the La Union Project in Sonora, Mexico. Following operational challenges encountered during Phase 2A, the program will shift from diamond core drilling to Reverse Circulation (RC) drilling to improve penetration rates and cost efficiency in faulted ground.
The Phase 2B campaign targets two specific areas: the Luis Hill IP chargeability anomaly and the Union Mine structure extension. Approximately 600 meters of RC drilling is planned across two holes, each measuring approximately 300 meters. The program is fully funded by Questcorp under the May 2025 option agreement, requiring no near-term capital from Riverside. CEO John-Mark Staude noted that successful RC drilling will provide a cost-effective methodology for future, potentially larger programs.
Riverside Resources Inc. (RRI) announced the continuation of its Phase 2 exploration program, marking a shift to reverse circulation (RC) drilling. This operational adjustment addresses geological challenges, specifically faulting, encountered during Phase 2A, rather than representing a fundamental change in strategy or target definition. The move aligns with the historical progression of the La Union project and validates the company’s exploration timeline and operational planning.
Funding for the program is provided entirely by Questcorp, a structure that preserves Riverside’s cash position and avoids dilutive financing. The announcement is considered incremental, as the market has already priced in the Phase 2 program and Questcorp’s role. The update serves as a progress report rather than a value-accretive event, introducing no new commercial results, unexpected catalysts, or material changes to the company’s financial profile.
Riverside Resources Inc. (RRI) is a mineral exploration and project generator company with a 19-year track record of discovering and spinning out assets. The company’s business model involves acquiring early-stage properties, partnering to fund exploration, retaining equity and NSR royalties, and spinning out successful ventures. Its royalty portfolio includes interests in Arizona Metals, Capitan Silver, and Blue Jay Gold.
The company’s flagship asset is the La Union Project in Sonora, Mexico, a district-scale carbonate replacement deposit (CRD) and sediment-hosted gold system. The broader portfolio includes projects in British Columbia, specifically Red Jacket, Revel, and Deer Park, as well as properties in Mexico, including Valle, Ariel, Suaqui, and Cruz de Plata.