The company has expanded mineralisation to the east at its project near Kalgoorlie. Pic via Getty Images
Riversgold reveals new high-grade gold zone at Kalgoorlie project
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- Riversgold reports up to 7.47g/t gold at Northern Zone project
- Results expand the shallow gold mineralisation to the east
- Project strategically located near Kalgoorlie goldfields
Special Report: Aircore drilling at Riversgold’s Northern Zone project near Kalgoorlie, WA, has intersected gold, confirming a new high-grade zone on the eastern extensional area of the porphyry system.
Notable assays of 7m at 4.07g/t gold from a down-hole depth of 48m including 4m at 6.72g/t from 48m (NZAC107) and 4m at 7.47g/t from 49m (NZAC113) from the first 10 holes far exceeds grade expectations and continue to confirm and expand the shallow gold mineralisation associated with the Northern Zone porphyry.
The initial assays are significantly higher than the grade range of 0.4g/t to 0.6g/t gold noted in Riversgold’s (ASX:RGL) conceptual exploration target of 200Mt to 250Mt.
“These are some of the best gold results seen for the shallow parts of the Northern Zone gold project to date,” RGL chairman David Lenigas said.
“They demonstrate excellent grade at relatively shallow depths over good widths and expand the mineralisation to the far eastern side of the 600m-wide porphyry.
“As indicated before, the project continues to deliver highly material and significant mineralised intercepts over an increasing porphyry footprint.
“The recent set of significant high-grade gold assays at Northern Zone have continued to expand the gold mineralised footprint of the porphyry over a much larger area than originally thought and it has confirmed the presence of a significant gold mineralised system, just 25km east of Kalgoorlie, Western Australia, with all of the benefits of being brilliantly located to excellent roads and infrastructure.”
Northern Zone project
As Lenigas noted, the Northern Zone project in WA’s Eastern Goldfields region is in an optimal position to take advantage of local infrastructure, just 25km east of Kalgoorlie.
Drilling earlier this year had returned high-grade hits such as 7m at 3.9g/t gold from 35m and 4m at 3.97g/t gold from 32m, which highlight the potential for the project to host wide, shallow mineralisation, which could replicate Saturn Metals (ASX:STN) and its 105Mt at 0.54g/t, 1.8Moz Apollo Hill gold project – 175km north of Northern Zone.
RGL will update the dynamic Leapfrog gold model for the project once all assays results from this program are received.
Assays from the remaining 16 holes are expected to be received within the next week.
This will also allow the company to generate a mineralisation report, which is required for it to apply for a mining licence.
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.
