Riversgold Limited (ASX:RGL) Announces Northern Zone Project Update
Project Modelling and Results
Riversgold Limited (ASX:RGL) has released exciting updates regarding its Northern Zone Project, located 25 km east of Kalgoorlie. An updated Leapfrog gold mineralisation model has been developed, integrating all drilling data collected to date. The model provides insights that will guide future drilling campaigns, aiming to expand upon the already identified high-grade oxide zone within the project’s expansive 600m porphyry system.
Drilling Confirmations
Recent aircore drilling has confirmed and expanded the shallow gold mineralisation associated with the Northern Zone intrusive porphyry. Significant intercepts from the drilling program include notable grades such as 8m at 4.86 g/t Au, indicating robust mineralisation. Further drilling will target areas showing higher-grade gold to refine the focus for reverse circulation and diamond drilling beneath oxide zones.
Future Plans
A mining license application is set to be submitted shortly, as Riversgold aims to mature and develop the Northern Zone Project for future resource estimates. The results from the aircore drilling have led the company to compare the Northern Zone with successful neighbouring operations, highlighting potential ore processing scenarios similar to those demonstrated by Black Cat Syndicate Ltd.
Executive Comments
David Lenigas, Executive Chairman of Riversgold, expressed optimism regarding the project’s direction. “The mineralisation envelope and footprint continues to grow, and we remain encouraged by successful operations nearby. Our focus is on the next round of drilling to expedite the project towards a maiden Mineral Resource Estimate,” Lenigas stated.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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