Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Riversgold Ltd (ASX:RGL).
The company has made significant advancements at its Northern Zone Gold Project, 25 kilometres east-southeast of the Kalgoorlie Super Pit in Western Australia.
Riversgold has incorporated its drilling data into an updated Leapfrog 3D model, which will support the interpretation of gold mineralisation results and guide future exploration efforts. The updated model highlights a growing mineralisation envelope within a 600-metre-wide porphyry system that remains open in multiple directions.
Riversgold is focusing on high-grade, shallow oxide gold mineralisation, which could lead to additional reverse circulation (RC) and diamond drilling, expediting progress toward a maiden mineral resource estimate (MRE).
Key results from a recent 26-hole aircore drilling program include 8 metres at 4.86 g/t gold from 34 metres and 1 metre at 5.72 g/t from 33 metres.
The company is preparing a mining licence application and evaluating processing strategies.
Riversgold is drawing inspiration from the success of the nearby Myhree open pit, operated by Black Cat Syndicate, just 7 kilometres to the north.
Additionally, the Northern Zone Project is being compared to Saturn Metals’ Apollo Hill Project, which has a resource estimate of 1.839 million ounces of gold.
The Leapfrog modelling and drilling results are helping refine targets for the next phase of exploration. Riversgold is encouraged by its progress and is exploring the potential for similar operational success as seen at Myhree once the Northern Zone tenement is converted to a mining lease.
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