Riversgold flags high-grade poly metallic rock chips at new Canadian project

Riversgold reports up to 10.8% antimony, 70.4g/t gold at Saint John project
Project is relatively underexplored and just 50km from US border
The company is also undertaking a site visit

Special Report: Riversgold has reported significant assay results from roadside quarry pits and exposures over the entire project area at its new Saint John project in Canada – including up to 10.8% antimony, 17.6% copper, 70.4g/t gold and 40oz/t silver.

A site visit is also underway at the high-grade project, which Riversgold (ASX:RGL) secured a binding option to acquire 100% of earlier this month.

At the Little Lepreau prospect, significant rock chip results from a quarry include:

17.6% copper, 10.8% antimony, 0.78g/t gold, 42g/t silver
11.6% copper, 6.8% antimony, 0.56g/t gold, 43g/t silver
7.61% copper, 5.17% antimony, 0.35g/t gold, 1,500g/t silver (48 oz/t); and
67.2g/t gold, 0.59% copper

At the Prince of Wales Prospect, significant rock chip results from a quarry and roadside cutting include:

3.37% copper, 1.95% antimony, 939g/t silver
2.25% copper, 1.28% antimony, 819g/t silver
1.87% copper, 1.16% antimony, 538g/t silver
1.64% copper, 1.00% antimony, 413g/t silver
4.68% copper, 109g/t silver; and
4.13% copper, 184g/t silver

And at Five Fathom, rock chip results include 70.4g/t gold.

Little modern exploration but plentiful potential

The project covers 101km2 over five claims and is conveniently only 50km north-east of the US border.

However, little modern exploration has taken place and the company says the lack of high-resolution magnetics (which is used to indicate mineralisation) points towards the potential of the project with a little systematic exploration and industry standard targeting techniques.

“It is great that senior RGL management have mobilised so soon to our new Saint John project in New Brunswick, Canada, where multiple multi-metal targets have been reported over an incredible ~25 km,” RGL chairman David Lenigas said.

“The project is ideally located for near year-round exploration – being only 5km from the city of Saint John and 50km from the USA border.

“The Prince of Wales area has now been rock chip sampled and the team will now move down to Little Lepreau area in the coming days.

“Weather conditions have been excellent at between 9 and 14 degrees and the project has proved to be very easy to traverse.

“I look forward to further updates from the site visit and the submission of samples to ALS Laboratories at the nearby city of Moncton in New Brunswick.”

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.