Riverside Resources Up 5.2% After Starting Phase 2 Drilling at the Union Project in Mexico
Riverside Resources (RRI.V) shares rose 5.2% on Tuesday after it began the second phase of a drill program at the LaUnion project in Mexico, which will follow up on Phase 1 results and on the broader targets developed through the spring 2026 field exploration program.The company noted that its 1,500-meter diamond-drilling program across 8 to 10 holes, each averaging 180 meters in depth, is fully funded and requires no near-term dilutive financing. This work is being carried out by the company operating in partnership with Questcorp Mining (QQQ.CN), which is earning into the project through an option agreement with Riverside, it said.The program is testing new targets and exploring areas surrounding multiple historical mine workings across the 25-kilometer square La Union project area. Holes will test both the sediment-hosted gold mineralization identified in Phase 1 and carbonate-hosted replacement deposit (CRD) gold-silver-zinc mineralization, where gold is associated with mantos, chimneys, and structural zones, it said.Follow-up drilling beyond Phase 2 is planned and can be expanded based on results and on the geophysics completed over the past several months, it added.Shares of the company were last seen up $0.015 to $0.305 on the TSX Venture Exchange.Price: $0.31, Change: $+0.02, Percent Change: +5.17%
