Riversgold goes full throttle on drilling to expand Northern Zone gold mineralisation

• Phase 2 drilling is underway at Riversgold’s Northern Zone project to expand gold footprint
• 30 holes planned totalling 2000m while assays from October drilling are expected soon
• Results from the drilling will help MEGA Resources plan a mining scenario for H1 2026

Special Report: Riversgold is keeping up a blistering exploration pace with Phase 2 drilling to expand the gold mineralisation footprint at its Northern Zone project near Kalgoorlie, WA now underway.

This comes less than two weeks after completing grade control drilling across priority areas between Northern Zone and the recently acquired Gold Wing project.

Under the program, Riversgold (ASX:RGL) will drill a planned 30 holes totalling 2000m to expand mineralisation at the Northern Zone, which is just 25km east from the historic Kalgoorlie Super Pit.

“As highlighted in previous news releases, we wanted to undertake two drill programs before the end of the calendar year to add to our gold footprint in the top 50-60m at our Kalgoorlie gold project, which comprises Northern Zone gold project and our recently acquired Gold Wing project,” RGL chairman David Lenigas said.

“These programs are designed to enhance the MEGA Resources mining scenario for 2026, and we are pleased to advise that our second shallow drill program is now underway at Northern Zone.

“The first batches of assay results from the grade control rig drilling completed in October are expected to start coming through in the coming weeks and we look forward to advising the market as they come to hand.”

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Northern Zone gold project

Northern Zone is hosted within a porphyry unit with high background gold and horizontal gold mineralised units in the Canon Shear.

Horizontal mineralisation means that drilling to date has been perpendicular to the gold zones.

Previous drilling returned results such as 18m grading 4.14g/t gold from a down-hole depth of 36m (NZRC001) and 10m at 8.89g/t gold from 46m (NZAC127).

Results from the drill programs will enhance RGL’s understanding of the Kalgoorlie project before it proceeds with a maiden resource estimate.

They will also be used by MEGA Resources for mine planning under their joint plans to start mining in the first half of 2026.

Under their agreement, MEGA will pay for 100% of the costs to develop and mine at Northern Zone, including paying for all ancillary activities – which incorporates haulage of material to the point of sale, maintenance of haul roads and processing costs.

The contractor will also provide geological and engineering services and manage project approvals.

In return, any profit generated will be split 50% to MEGA and 50% to the project owners Riversgold and Oracle Power Plc (20%).

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.