Riverstone Resources Inc. (TSXV:RVS,OTCQX:RVREF,FWB:3RV) announced an updated resource estimate for its Burkina Faso-based Karma project.

As quoted in the press release:

Global Mineral Inventory (inside and outside of Whittle pit shells) consists of indicated gold mineralization totaling 1,773,000 ounces of gold in 54.1 Mt at an average grade of 1.02 g/t Au and inferred gold mineralization totaling 959,000 ounces of gold in 37.4 Mt at an average grade of 0.8 g/t Au.

Riverstone's President and CEO, Dwayne L. Melrose said:

This will provide a solid base for going forward with engineering and economic studies in 2012 to establish Karma as one of the premier gold projects in West Africa. There is also significant potential to continue to increase the gold resource.

Click here for the Riverstone Resources Inc. (TSXV:RVS) press release. ^{[1] [1]}