Riverside Resources and Questcorp Launch Phase 2 Exploration Program at La Union Project, Sonora, Mexico
Riverside Activates Partner-Funded Phase 2 at La Union as Project Generator Model Delivers Operational Continuity
The most recent news (April 1, 2026) announces the commencement of a fully-funded Phase 2 exploration program at the La Union Project in Sonora, Mexico. This follows the formal consolidation of the Famosa mineral concessions on March 18, 2026. The program is funded by partner Questcorp Mining Inc. and targets Carbonate Replacement Deposits (CRD) and Sediment-Hosted Gold (SHGD). Key activities include an expanded aeromagnetic drone survey and preparations for a summer 2026 drilling campaign. This follows Phase 1 results which identified a new "Carlin-like" style of mineralization at Luis Hill (42m @ 0.3 g/t Au).
The news is Routine - Positive. While the commencement of Phase 2 is a necessary step for valuation growth, it is the expected progression of the option agreement with Questcorp. - Operational Continuity: The transition from Phase 1 (completed late 2025) to Phase 2 (Spring 2026) shows efficient management and partner commitment. - De-risking: The acquisition of the Famosa concessions for US$175,000 with no attached NSR (other than Riverside's own retained royalty) simplifies the land tenure and removes potential third-party encumbrances. - Discovery Potential: The identification of SHGD (Sediment-Hosted Gold) below the primary CRD targets adds a new geological layer to the project, potentially increasing the scale of the system. - Financial Insulation: As a project generator, Riverside is advancing a high-cost drilling stage using Questcorp’s capital while maintaining a 2.5% NSR and a 9.9% equity stake in the partner.
Riverside Resources is a project generator focused on gold, copper, and silver in Mexico and Canada. - Flagship Project: La Union (Sonora, Mexico). It is a high-grade polymetallic CRD project. - Secondary Focus: Ariel Copper Project (Sonora) and a suite of REE and Gold projects in British Columbia (Revel, Red Jacket). - Business Model: Riverside acquires prospective ground, performs low-cost initial exploration, and then options the projects to partners who fund expensive drilling in exchange for equity, while Riverside retains royalties.