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Riversgold Ltd (ASX:RGL) has initiated a significant exploration effort at the Northern Zone Intrusive Hosted Gold Project in Western Australia, revealing a substantial gold-bearing porphyry system extending over 600 meters of strike. The discovery, based on aircore (AC) drilling, represents an important development for the project, which now shows promising potential for further exploration.
The initial phase of drilling, which involved eight of the planned 30 drill holes, has confirmed the presence of a large mineralized zone. This initial data indicates that the system could be significantly larger than previously estimated. The remaining 22 drill holes are yet to be analyzed, and results are anticipated to provide additional insights into the extent of the gold mineralization.
The initial drilling results suggest that the gold system is just beginning to be understood. According to Riversgold Chair David Lenigas, the porphyry system appears to be much more extensive than initially projected, with one section of the system extending up to 600 meters in width. This discovery has prompted the company to plan further drilling across the tenement to explore the upper elevations of this previously blind porphyry system.
The early results from the initial batch of drill holes have already provided promising data. For instance, gold grades such as 4 meters at 1.05 grams per tonne (g/t) from a depth of 30 meters and 5 meters at 1.5 g/t from the same depth have been reported. Earlier drilling efforts also support the breadth of mineralization within the system. A previous aircore program in July revealed 16 meters at 4.69 g/t gold from 30 meters depth. Furthermore, earlier diamond and reverse circulation (RC) drilling provided intersections including 110 meters at 0.6 g/t gold from 208 meters and 330 meters at 0.49 g/t gold from 30 meters, with a notable 54.79-meter section at 1.15 g/t gold from 213 meters.
Riversgold plans to continue drilling to refine the understanding of the system’s geology and to advance toward a comprehensive mineral resource estimate. The porphyry system remains open in multiple directions, suggesting further potential for expansion. Additionally, recent progress by Saturn Metals Limited on the nearby Apollo Hill Gold Project, which has a mineral resource of 1.839 million ounces, has highlighted the potential for a substantial low-grade heap leach operation at Northern Zone.
As exploration continues, Riversgold is poised to further investigate the potential of the Northern Zone project, which is rapidly gaining interest due to its promising early results and the substantial size of the identified gold-bearing system.
