Riverside Resources (RRI.V) has started working with BHP (BHP) to find new prospective copper targets in the Sonora province of Mexico. The initial collaboration appears to be going well and both partners have now completed their first quarterly exploration meeting where both teams are discussing the data that has been gathered so far.
The first few quarters of the collaboration agreement will focus on effectively defining and determining targets where after the joint venture partners could decide to drill-test some of the more promising prospects. As a reminder, BHP has committed to spending at least US$2M over a two year period to look for giant copper deposits on the Mexican side of the Laramide copper belt.
The copper side of the Riverside portfolio appears to be advancing as expected, and we also expect to see an update on the precious metals project portfolio in the near future as well.
Disclosure: The author has a long position in Riverside Resources. Riverside is a sponsor of the website.
