Riversgold Limited (ASX:RGL) Announces High-Grade Copper Gold Discovery in Canada
Riversgold Limited (ASX:RGL) has reported significant high-grade copper, gold, and silver results from its ongoing exploration at the Saint John project in New Brunswick, Canada. Sampling continues to uncover a substantial footprint of mineralisation across the project area, which spans an approved tenement package of 101 square kilometres.
Exploration Highlights
Notable assay results include remarkable grades such as 7.38% copper, 2.38g/t gold, and 148g/t silver from the Prince of Wales Prospect. Other highlights involve significant results from the Hideaway and Little Lepreau Prospects, showcasing consistent high-grade mineralisation across various target areas. Rock chip sampling is actively being conducted, benefitting from the region’s conducive winter exploration conditions.
The project is strategically located just 50 kilometres from the US border, offering excellent logistical advantages. The New Brunswick region is renowned for its mining potential and regulatory support, enhancing the prospects for Riversgold’s exploration efforts.
Executive Comments
David Lenigas, Chairman of Riversgold, expressed enthusiasm about the ongoing exploration, stating, “The Saint John Project in New Brunswick is a significant discovery in a previously unexplored area of Canada with excellent infrastructure so close to the US border. I look forward to further updates from current site activities.” He noted that fieldwork resumed on January 3 following the festive break, indicating proactive management of site operations.
With a steady stream of samples being taken for thorough multi-element analyses, the expectation is to further validate and expand the preliminary mineralisation concepts previously established.
Riversgold is optimistic about the continued exploration success, with upcoming updates involving the results from a Drone Magnetic survey processed in December.
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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