Riverside Resources Begins Drilling at Union Project in Mexico

Riverside Resources ( (TSE:RRI) ) has provided an update.

Riverside Resources, in partnership with Questcorp Mining, has commenced drilling at the Union Project in Sonora, Mexico. The initial drill program aims to expand known mineralization zones and explore new targets across the 25 km² area, focusing on carbonate-hosted replacement deposits. This strategic move is expected to enhance Riverside’s understanding of the region’s geology and potentially lead to significant gold discoveries, thereby strengthening its position in the mining sector.

Spark’s Take on TSE:RRI Stock

According to Spark, TipRanks’ AI Analyst, TSE:RRI is a Neutral.

Riverside Resources faces significant financial challenges with no revenue and negative cash flows, impacting its overall score. Despite these issues, positive technical momentum and strategic corporate actions, such as the Blue Jay Gold spin-out, offer some optimism. Valuation concerns persist with a negative P/E ratio, indicating potential risks.

To see Spark’s full report on TSE:RRI stock, click here.

More about Riverside Resources

Riverside Resources Inc. is a mineral exploration company operating in the mining industry, focusing on discovering and developing mineral deposits. The company has a strong portfolio of projects in Mexico, primarily targeting gold and other valuable minerals.

Average Trading Volume: 69,413

Technical Sentiment Signal: Buy

Current Market Cap: C$11.97M

For an in-depth examination of RRI stock, go to TipRanks’ Overview page.