• New magnetic data indicates high order targets at a recently acquired project
  • Multi-metal St John turning into a key focus for RGL
  • Permitting in to enable potential maiden drilling for 2025

 

Special Report: Riversgold has returned new target-firming magnetic data and is greenlit for drilling over the Little Lepreau prospect at its Saint John copper, gold, silver and antimony project in the Canadian province of New Brunswick.

The high-resolution dataset from a recent drone survey bolstered multiple targets defined as low magnetic response areas as Riversgold (ASX:RGL) gets on-ground fieldwork underway.

Though more work is needed ahead of maiden drilling, approvals are already in for the Little Lepreau prospect, with Riversgold making a point of the expediency compared to processes in its homeland of Western Australia.

The prospect has made a showing of multiple high-grade multi-metallic rock samples from a roadside quarry, indicating a mineralised system amid a sampling campaign which continues to confirm high-grade tenor over a significant footprint at Saint John.

Riversgold exploration director Ed Mead said the new data over Little Lepreau and the immediate area indicates multiple high-order targets with a similar signature to newly discovered mineralisation, now requiring next level exploration.

“It cannot be emphasised enough that the roadside quarry for aggregate is a random exposure of mineralisation, and that, with modern exploration targeting tools, further mineralisation may be found with more detailed exploration,” Mead noted.

“The alteration and mineralisation viewed in the geology, within the project area, and the opportunities for the related IOCG and porphyry models that the company is targeting, makes the Saint John project in New Brunswick, Canada, a key focus for us.

“Mineralisation to date can be considered a significant discovery, in this previously unexplored area of Canada that has excellent infrastructure and is only 50km from the US border.”

Mead said a mobile drone survey over Little Lepreau is now being refined to add to targeting refinement as the company awaits more on-site updates and further rock chip results.

 

The Little Lepreau high resolution magnetic survey. Pic: RGL

 

North American access

While Canada is vast and often frozen, Mead said St John holds easy access to project areas and a favourable climate, and that drilling can be undertaken once better-developed targets are on deck.

The project sits westward of the seaport city of St John in a proven mining jurisdiction boasting the associated infrastructure.

Riversgold does make a fair point in the ease of permits as well, with ASX-listers set to benefit from Canada’s new onus on streamlining exploration and development.

Canada is heading into a critical election year following the resignation of long-serving PM Justin Trudeau. His progressive Liberal Party is highly likely to be replaced by the Conservative Party, led by pro-development candidate Pierre Poilievre.

There are plenty of opportunities for RGL at Saint John. The project’s gold, copper, and silver quarry are all valued commodities, but RGL made sure to note New Brunswick’s status as a producer of antimony, a new market darling with a bright future.

 

 

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.