Riversgold Limited (ASX:RGL) Submits Mining Lease Application
Mining Lease Application Submitted
Riversgold Limited (ASX:RGL) has lodged a Mining Lease application for the Northern Zone Gold Project, located near Kalgoorlie, Western Australia. This application seeks to secure tenure for an initial 21 years, paving the way for potential gold mine development.
Ed Mead, Exploration Director at Riversgold, expressed optimism regarding the project’s future, stating, “The lodgement of the Mining Lease application is a great next step forward for this fast-growing project. We have a strong belief in this project to deliver very significant future value for Riversgold and Oracle Power.”
The application follows promising drilling results, building confidence in the underlying resource. The strategic position of the Northern Zone Project, just 25km from the Kalgoorlie Super Pit, enhances its appeal given its proximity to successful neighbouring operations.
Future Exploration Plans
Riversgold plans to utilise the 3D Leapfrog model to guide further drilling efforts in the Northern Zone. The mineralisation footprint continues to enlarge, with successful results confirming the presence of high-grade gold in multiple directions.
The company aims to advance understanding of the project’s resources, leading towards a maiden Mineral Resource Estimate (MRE). The recent operational success of Black Cat Syndicate’s nearby open pits reinforces Riversgold’s exploration strategy and future potential.
Ed Mead concluded, “We will continue to drill out this exciting project in the new year,” signalling a commitment to ongoing exploration and value creation.
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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.