A 2000m RC drill program is planned at the Earl Grey prospect. Pic via Getty Images.
Riversgold gears up for lithium drilling near Mt Holland
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Riversgold has lodged a Program of Works (PoW) for a maiden drilling program on tenement E77/2784 for the Earl Grey Prospect – which is immediately adjacent to and potentially down dip of the Mt Holland Lithium Project being developed by Covalent Lithium in Western Australia.
The program is designed to test for the potential extension of the deposit to the north-west where it is interpreted to be open and extending at depth, with 2,000 m reverse circulation (RC) holes planned.
Drilling will begin as soon as the PoW is approved by the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) and heritage clearance is received.
Testing strike and depth extension
Kidman Resources declared an initial Mineral Resource for the Earl Grey deposit in 2016 and updated this in 2018 to 189 Mt at 1.50% Li2O of Measured, Indicated and Inferred Mineral Resource.
“The Earl Grey Prospect’s attraction lies in its proximity to the existing orebody currently being mined by SQM and Wesfarmers,” Riversgold (ASX:RGL) CEO Julian Ford said.
“In 2016, Kidman interpreted the orebody to be open to both the north and the north-east.”
Notably, the northernmost extension drill hole for Kidman (KEGR112) intersected 11m at 1.13% Li2O from 324m, 9m at 1.27% L2 Li2O from 384m, and 10m at 1.81% Li2O from 395m.
Defining drill targets at the Bounty project
The company is also currently defining further drill targets east and south-west of the historical Bounty gold mine and will update the market once this work is completed.
“The widths and tenor of the mineralised pegmatites at both Earl Grey and Bounty would be very attractive in today’s lithium market,” Ford said.
This article was developed in collaboration with Riversgold Limited (ASX:RGL), 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.
