Further targeted drilling is being planned over the expanded footprint of the mineralised porphyry at RGL’s Northern Zone project. Pic: Getty Images
RGL more than doubles porphyry footprint at Northern Zone
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- 27 aircore holes have more than doubled the prospective gold system at RGL’s Northern Zone project
- Drilling was designed to expand the mineralised porphyry footprint
- Another rig has been contracted for the middle of August
Special report: Hot off receiving data from a recent drilling program at the Northern Zone project, Riversgold’s porphyry footprint has more than doubled with the full extent of these porphyries yet to be fully delineated.
With an exploration target of 200-250Mt grading 0.4-0.6g/t gold for 2.5-4.8Moz of contained gold, Riversgold’s (ASX:RGL) Northern Zone project boasts a large porphyry gold system proven to exceed >100m in true width from previous drilling.
The project is about 175km north of Saturn Metals’ (ASX:STN) Apollo Hill, the site of a 105Mt resource at 0.54 g/t gold or 1.8Moz of contained gold where a preliminary economic assessment (PEA) suggested the potential for a sizeable low-grade heap leach operation.
Similarities between both projects have given RGL the confidence to forge ahead with exploration, so much so, it raised $1.85m to help fund a step-out drill program in May.
Aircore drilling expands supergene gold mineralisation
Results from a recently completed aircore (AC) drilling program at the Northern Zone gold project continue to show a gold mineralisation event has occurred in the project area.
Drilling was designed to expand the potential for supergene gold mineralisation and increase its spatial coverage across the site.
Around 27 AC holes have more than doubled the prospective gold system by tagging basement geology at the project.
Mineralisation remains open in multiple directions, necessitating further testing of basement geology in future drilling campaigns.
What else is on the cards?
Further targeted drilling is being planned over the expanded footprint of the mineralised porphyry.
RGL is fully funded to promptly begin the next phase of drilling operations at Northern Zone with a rig contracted for the middle of August.
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.
