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Highlights
- Riversgold Ltd. is advancing exploration at the Northern Zone Gold Project.
- Recent drilling has revealed high-grade gold intercepts, expanding the mineralized footprint.
- Additional drilling is planned to further define the gold deposit's potential.
Riversgold Ltd. (ASX:RGL) is set to intensify its exploration efforts at the Northern Zone Gold Project in Western Australia. Following promising high-grade gold intercepts from recent drilling, the company has planned further drill holes and aims to apply for a mining lease, positioning Northern Zone as a significant asset in its portfolio.
The latest drill campaign at Northern Zone included notable shallow intercepts, revealing gold concentrations of 7 meters at 3.90 g/t from 35 meters, 4 meters at 3.97 g/t from 32 meters, 4 meters at 6.92 g/t from 57 meters, and an impressive 5 meters at 12.27 g/t from 32 meters, with a peak of 1 meter at 58.09 g/t from 34 meters. This level of mineralization indicates a robust deposit, motivating Riversgold to further investigate the project’s potential.
To support these efforts, Riversgold has implemented Leapfrog software to integrate and analyze drilling data, producing a gold grade model that highlights key zones for the next phase of drilling. The upcoming drill program includes 28 additional aircore holes, collectively spanning approximately 1,960 meters. This campaign aims to validate and expand upon previous results, focusing on the mineralized porphyry’s footprint.
Riversgold's geological team reports that Northern Zone could host between 200 to 250 million tonnes of mineralized rock, with grades averaging 0.4 to 0.6 g/t gold. This suggests an exploration target of around 2.5 to 4.8 million ounces, affirming the potential scale of the deposit. The project’s proximity to Kalgoorlie, with its robust infrastructure and transport access, also offers logistical advantages for future development.
Further drilling will target the high-grade gold zones using SW-NE-oriented lines at 20-meter intervals, seeking to map the mineralization more precisely. Preliminary analysis shows that the gold-bearing porphyry remains open in multiple directions, hinting at additional potential for expansion as drilling progresses.
Chairman David Lenigas remarked on the promising results and the strategic decision to apply for a mining lease. He emphasized the importance of the recent intercepts in confirming Northern Zone's large-scale potential, drawing conceptual parallels with Saturn Metals’ Apollo Hill Project, a gold project with a resource estimate of 105 million tonnes at 0.54 g/t gold. The Apollo Hill development, with its resource base, serves as a comparative framework for Riversgold’s aspirations at Northern Zone, with the potential for Northern Zone to grow into an even more substantial gold-producing site.
As Riversgold moves forward with its exploration at Northern Zone, the company’s focus on unlocking the full mineral potential at this promising site suggests continued growth and discovery in the region.
