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Highlights:
Final assays from Riversgold’s Northern Zone project confirm high-grade gold mineralisation.
Strong grades and widths identified at shallow depths, expanding mineralisation.
Nearby projects, including Black Cat's Myhree, provide successful operational examples for potential development.
Riversgold's (ASX:RGL) Northern Zone project continues to deliver positive results, with the final assays from its November campaign further enhancing the understanding of gold mineralisation southeast of Kalgoorlie, near the Kalgoorlie Super Pit. These results have reinforced the potential of the project, highlighted by an intercept of 8 meters at 4.86g/t gold from 34 meters depth. This batch of assays confirmed and extended the shallow mineralisation associated with the project’s porphyry system.
The ongoing success of the project is underscored by the expansion of a high-grade oxide zone within the 600-meter-wide porphyry system. These results further substantiate the geological model, which supports the growing exploration target for the project. With drilling now concluded, Riversgold (ASX:RGL) is preparing to update its gold model, alongside a forthcoming mineralisation report, with plans to submit a mining lease application in the near future.
Riversgold Chairman David Lenigas highlighted the continued success of the project, noting the excellent grades and widths of the mineralisation at relatively shallow depths. The results from the Northern Zone project reflect significant potential for future development, with the project growing in scale and demonstrating consistent high-quality intercepts.
The project is also encouraged by the success of nearby operations, particularly Black Cat Syndicate's Myhree open-pit operations, located just 7 kilometers from the Northern Zone. Black Cat’s development strategy, which includes turn-key funding and processing packages, provides a useful operational model that Riversgold is evaluating for potential application at the Northern Zone once the tenement is converted into a Mining Lease.
With the conclusion of drilling and the upcoming reports, Riversgold is positioning itself to further develop its project and move towards the next phase of operations.
