Riversgold is planning to get back on-site at Tambourah to investigate the project armed with the gold target compilation review work. Pic: Getty Images
Riversgold proves up 12km Pilbara gold trend at Tambourah
Mining
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- Riversgold validates exciting gold corridor of high-grade gold from rock chips
- Rock chip results return up to 101g/t gold
- Further sampling is planned to refine drill targets
Special report: The true extent of Tambourah’s gold potential is emerging with exploration activities conducted by Riversgold during the summer months uncovering a 12km zone with rock chip grades up to 101g/t gold.
A site assessment of all the gold results across the company’s Tambourah package and the compelling evidence of historical mine workings, alluvial operations and high tenor rock chip results has strengthened the positive analysis.
The exploration success comes amid a rising gold bull market. Analysts are tipping prices to crack US$3000/oz this year, with Donald Trump’s aggressive tariff policy heightening geopolitical tensions and macroeconomic uncertainty – both drivers for higher bullion.
Although originally acquired for its lithium prospectivity in the northwest corner of tenement, Riversgold (ASX:RGL) believes the project’s gold opportunity is just beginning to be fully realised.
“The area has always been highly prospective for gold with gold being discovered in the area in 1891, which resulted in a gold rush occurring in 1894,” RGL chairman David Lenigas said.
“But we have taken hundreds of samples for gold last year and these have now been collated and summarised, clearly showing a highly exciting corridor of high-grade gold from rock chips.”
Lack of modern exploration
A lack of sub surface investigation other than adits and shafts completed 120 years ago offers the company tremendous promise to investigate the asset using modern exploration techniques.
Exploration efforts during the peak of summer proved challenging due to heat and the wet season, however with summer coming to an end, RGL is keen to get back on the ground armed with the gold target compilation review work.
“Further rock chip sampling is now being planned, and on-site work will help refine targets,” Lenigas said.
Previous lithium work
Tambourah is about 160km southeast of Port Hedland consisting of four granted tenements that cover 110km.
Access to the site is via the Great Northern Highway and the Hillside-Woodstock road that passes straight through the project itself.
Exploration to date has focused on lithium with previous work identifying nine targets during a 3070-sample geochemical program.
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.
