Riversgold Limited (ASX:RGL) Canadian Exploration Update
Exploration Progress in New Brunswick
Riversgold Limited (ASX: RGL) is advancing its exploration efforts at the Little Lepreau Prospect, part of the Saint John project in New Brunswick, Canada. The company has received data from a recent drone magnetic survey, alongside drilling approvals, which will enable future exploration activities.
High-Grade Mineralisation Confirmed
The company reported multiple high-grade rock chip assays indicating significant mineralisation, including assays of 17.6% Cu, 10.8% Sb, 0.78 g/t Au, and 42 g/t Ag. These results confirm the high-grade tenor of mineralisation within the project area, which spans a 101 km² tenement package located just 50 km from the USA border.
Statements from Exploration Director
Ed Mead, Exploration Director of Riversgold, expressed enthusiasm about the newly acquired magnetic dataset. He stated, “Multiple high-order targets with a similar signature to the newly discovered mineralisation require next level exploration.” Mead highlighted the importance of modern exploration tools to uncover additional mineralisation.
Future Plans
The exploration plan includes conducting geochemical surveys over identified magnetic lows and the consideration of a maiden drilling program later in the year. The efficiency of the New Brunswick approvals system also allows for swift transition to drilling activities compared to processes in Western Australia.
Operational Efficiency and Infrastructure
Riversgold is committed to ongoing site operations throughout winter, supported by a favourable climate for year-round exploration.
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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