Exploration results at Riversgold’s Northern Zone frames next round of drilling

Riversgold continues to hit shallow gold intersections at Northern Zone
The company has decided to complete a mineralisation report in the near term
A high-impact drilling campaign is being planned to follow-up results

Special Report: A high-impact drilling campaign has been planned for Riversgold’s Northern Zone project following the delivery of shallow gold intersections including 7m at 3.90g/t gold.

Rivergold (ASX:RGL) has been carrying out a number of drilling programs across its Northern Zone project in WA’s Eastern Goldfields, 25km east of Kalgoorlie.

The project boasts an exploration target of 200-250Mt within a grade range of 0.4-0.6g/t gold based on historical hits and ex-owner UK-listed Oracle Power’s database using data from 53 drillholes undertaken between 1998 and 2012, and seven holes drilled by Oracle in 2021.

Drilling this year has continued to validate the company’s geological model with high-grade hits such as 7m at 3.9g/t gold from 35m and 4m at 3.97g/t gold from 32m.

RGL says these highlight the potential for wide, shallow mineralisation, which could replicate Saturn Metals (ASX:STN) and its 105Mt at 0.54g/t, 1.8Moz gold project – 175km north of Northern Zone.

Cross-section of interpreted Au grade 3D model of Northern Zone. Pic: RGL

Mineralisation report and upcoming drilling

The company has now made the decision to complete a mineralisation report so that an application can be made to convert the tenement to a mining licence.

All drilling at the Northern Zone project has been uploaded into Leapfrog software, which has enabled RGL to generate a gold grade model.

This dynamic model has informed and guided the upcoming drilling campaign, with a further 28 drill holes for ~1,960m planned to follow up on latest drilling results.

Exploration during high gold price environment

“The recent set of significant high-grade gold assays at Northern Zone have continued to expand the gold mineralised footprint of the porphyry over a much larger area than originally thought,” RGL chairman David Lenigas said.

“Northern Zone continues to deliver highly material and significant mineralised intercepts over an increasing porphyry footprint, and this has framed our next round of drilling.

“The Australian dollar gold price has passed $4,000/ounce, which bodes well for the project, something the board was hopeful of when it embarked on this project.”

This article was developed in collaboration with Riversgold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.