Kalgoorlie gold rush: Riversgold’s Northern Zone enters next phase with grade-control drilling

• Riversgold begins grade control drilling at Northern Zone
• Drilling is focusing on the shallow, undrilled areas between the western and eastern gold zones
• Results are expected by early-November

Special report: Riversgold has swung the rigs back into action 25km east of Kalgoorlie’s Super Pit, kicking off grade control drilling at its Northern Zone gold project in WA.

This latest campaign is zeroing in on the shallow gap, just 30m to 60m deep, between the western and eastern mineralised zones – an area that hasn’t yet seen a drill bit but could materially expand the gold footprint if it lights up.

Northern Zone – part of the broader Kalgoorlie gold asset – sits in a porphyry intrusive system with flat-lying mineralised units, positioned on the Canon Shear, a favourable structural corridor that has already delivered targets worth chasing harder.

The geology lends itself to efficient drilling. There are no water issues down to 60m, perpendicular geometry and good ground conditions.

The work is part of the lead-up to Riversgold’s (ASX:RGL) first estimate for the project, a key opportunity to secure a re-rate based on what’s shaping up east of Australia’s most famous gold hub.

Northern Zone drilling results

Across the Northern Zone, drilling has consistently pulled back meaningful widths and strong grades from shallow depths.

Highlights include 18m at 4.14g/t gold from 36m and 10m at 8.89g/t from 46m alongside 7m at 3.14g/t from 47m and 6m at 6.12g/t from just 35m.

There are also standout spikes such as 5m at 12.27g/t from 32m and 4m at 6.92g/t from 57m, which shows the system has genuine high-grade punch.

Not every intercept is a headline grabber on grade alone, but the consistency of mineralisation over meaningful lengths – 18m at 1.94g/t from 49m, 15m at 2.1g/t from 39m and 16m at 4.69g/t from 30m – has helped steadily de-risk the geological model.

That drilling work continues to support the previously announced Exploration Target, with the Northern Zone now framed at 200-250Mt grading 0.4-0.6g/t gold, translating to a potential 2.5-4.8Moz gold envelope, crucially at shallow depths.

Results expected early-November

RGL chairman David Lenigas said the Northern Zone story keeps getting bigger with every drill campaign.

“We continue to expand the gold mineralised footprint of the porphyry over a larger area, which continues to confirm the presence of a significant gold system,” he explained.

“The grade control rig is the next step in the evolution of this project, and this program is designed to expand on the mineralisation that MEGA Resources is targeting for mineable material.

“The Australian dollar gold price has recently passed $6500/ounce, which bodes extremely well for this exciting and rapidly growing gold project.”

Lenigas said the fortnight-long drilling program is the first of two expected for the remainder of the year, with the second 2-3 week program scheduled to begin in mid-November.

“Results from this first program are expected to start coming through in early November and we look forward to updating the market as they come to hand,” he said.

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.