Riversgold runs continue at Northern Zone

• Riversgold’s angled RC campaign has returned another batch of wide gold intercepts
• Results add up ahead of the company’s maiden resource
• 32 more holes await assay as RGL continues an early investigation over Canadian polymetallics

Special Report: Riversgold has returned another batch of wide gold intercepts from an ongoing perforation across its Northern Zone project east of Kalgoorlie.

All 11 holes of this Riversgold (ASX:RGL) angled RC drill campaign are in the ledger with gold intersections continuing to confirm and enlarge shallow mineralisation associated with the project’s porphyry.

This batch comes with a headline 18m strike at 1.94g/t gold from 49m, including a 3m stretch at 8.2g/t from 60m.

They further build on strong early returns which surpassed expectations and on Riversgold’s geological understanding before it begins tallying a maiden resource.

“The results continue to complement previous drill programs and we continue to increase the footprint of the gold mineralisation, revealing good gold tenor within the shallower top of this considerable mineralised porphyry,” RGL chairman David Lenigas said.

“We have a further 32 holes in the lab awaiting assay that will continue the company’s consistent and regular news releases, reporting gold results as we advance the Kal East – Northern Zone Project towards a maiden MRE and report on progress at our new early-stage gold, copper silver and antinomy discovery in New Brunswick.”

Those 32 holes have 1303 samples awaiting results and RGL will update its 3D modelling software with this latest batch to help guide the next round of drilling.

Paths to production

You don’t need to squint to see a route to production by the gold capital of Kalgoorlie, and RGL has local success stories to point to in BidEnergy (ASX:BID) and Saturn Metals (ASX:STN) for its own.

Black Cat’s use of a turnkey funded, development and processing package at their open pits 7km to the north shows a possible ore processing scenario, while Saturn’s preliminary economic assessment over its 118Mt at 0.53g/t Apollo Hill project has demonstrated a benchmark for a lower-graded heap leach operation.

Riversgold seems content drilling away and not rushing to a resource over its Kal tenements, and also has a polymetallic opportunity to investigate (a lot) further away after new magnetic data indicated high order targets at its Saint John project in Canada.

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.