Riversgold strikes 15.13g/t gold at promising Northern Zone project

• RGL flags high grade gold at its Northern Zone project near Kalgoorlie
• Assays returned shallow results of up to 15.13g/t gold
• A further 2000m of drilling planned as the company considers a maiden MRE

Special Report: Riversgold says assays from the first two reverse circulation drill holes of a planned 11 hole, 1289m program at its Northern Zone gold project near Kalgoorlie have returned up to 15.13g/t.

The shallow results include:

• 7m at 3.62g/t from 39m
• 1m at 10.81g/t from 42m
• 1m at 12.10g/t from 44m; and
• 1m at 3.97g/t from 52m.

Those all sit within a broader intercept of 54m at 0.65g/t Au in hole NZRC007.

Within a hit of 54m at 0.51g/t Au from 37m are two more standout intercepts of:

• 5m at 4.37g/t from 37m; and
• 1m at 15.13g/t from 40m.

The results of these drill holes continue to confirm and enlarge the shallow gold mineralisation associated with the Northern Zone porphyry.

Riversgold (ASX:RGL) is already eyeing possible ore processing scenarios through third party processing plants, a method successfully used by the nearby Black Cat Syndicate (ASX:BC8) to open up its Kal East gold project via a turn-key funding, development and processing package.

Conceptually, the company has drawn parallels between Northern Zone and Saturn Metals’ Apollo Hill project, based on the preliminary economic assessment statement released by Saturn Metals last year, which suggests the potential for a sizeable low-grade heap leach operation.

To give a sense of the value ascribed to a discovery of that nature, Saturn is worth $85 million, and its shares have risen 33% YTD as development studies get closer to fruition.

Except RGL thinks the potential scale of Northern Zone could be even more extensive

“With a resource estimate of 118Mt at 0.53g/t gold, totalling 2.03Moz, this development serves as a benchmark for our aspirations at Northern Zone, albeit with the potential for Northern Zone to be an even larger project,” RGL said.

Resource estimate in the works

Riversgold will now continue a further 2000m of drilling to test shallower mineralisation and to improve its understanding of the project before proceeding with a mineral resource estimate.

“The initial results from our first RC campaign of 2025 at Kalgoorlie East have exceeded our expectations, revealing healthy grade and overall tenor within the shallower oxide gold mineralisation at the top of the mineralised porphyry,” RGL chairman David Lenigas said.

“We have 9 more drill holes in the lab awaiting results and based on this initial RC work, we will be adding a further 2000m of drilling starting today.

“We will continue the company’s consistent and regular news releases over the coming months, reporting gold results as we advance Northern Zone and report on our new early stage gold, copper, silver and antinomy discovery in New Brunswick.”

Northern Zone is ideally located just 7km south of Black Cat’s Myrhee and Boundary open pits, and 25km east of Kalgoorlie – the best serviced gold mining centre in Australia. 

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.