Riversgold Limited (ASX:RGL) Reports High Chargeability in Sulphide Samples
Petrophysics Results
Riversgold Limited (ASX:RGL) reported that sulphide sample RK008302 from the Prince of Wales Prospect assayed 10.15% Cu and 65.8g/t Ag, demonstrating very high induced polarisation (IP) chargeability values between 210 to 220 mSec. Additionally, low resistivity values of approximately 1-4 S/m were confirmed, indicating strong geophysical signatures suitable for further exploration.
Technology Validation
The petrophysics results validate the use of Drone MobileMT (MMT) technology for the Saint John Project. Southern Geoscience Consultants (SGC) indicated that the IP/Resistivity surveying techniques are highly effective for the mineralisation style observed, suggesting that both Drone MMT and conventional Airborne Electromagnetics (AEM) can be utilised to define and prioritise new targets within the ~25 km strike length of the project area.
Project and Exploration Updates
Riversgold has received full approval for the drilling of 2,000 metres, allowing the company to advance its exploration activities. Geochemical sampling is currently underway at the Little Lepreau Prospect, with multiple high-grade rock-chip results reported for antimony, gold, copper, and silver. The Saint John Project, located in New Brunswick, Canada, benefits from excellent infrastructure and access, positioning it as a promising Tier-1 Canadian mining jurisdiction known for antimony production.
Executive Comments
David Lenigas, Chairman of Riversgold, stated, “This result is a real gamechanger for how we target copper sulphide mineralisation at Saint John. Surface assays to date have impressed with stellar grades of copper, gold, silver and antimony at this discovery in New Brunswick, Canada, where multiple multi-metal targets are being defined over the ~25 km strike of the project area. The results from the petrophysics tests on this sulphide sample give us a tremendously strong geophysical signature of the mineralisation we are looking for, and it is great that airborne techniques can be utilised to further test the Saint John Project. I look forward to further updates from current site activities and I am very pleased with the great start to 2025.”
Motley Fool contributor Kiarra Jackson 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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