Coffee with Samso Episode 172 is with Julian Ford, CEO of Riversgold Limited (ASX: RGL). Riversgold is blessed with good fortune, finding a Lithium deposit in an old fashioned way of mineral exploration.   Riversgold has been pursuing their Tambourah Lithium project earnestly. Investors need to understand why there is a need to pay attention to this minnow in an exciting sector of the EV market. What may differentiate Riversgold from their peers is kind of complex.

 

The Riversgold Story   Why do I like the Riversgold story? It is one of the few exploration companies that are actually doing some real exploration. When you look at the companies that are out there exploring for lithium, you will be very surprised to find one that is actually exploring.   What I mean is that the majority, if not all, of the stories out there are ones where they have found a pegmatite on the surface and then drilled with discovery almost handed to them. These are the benefits of having low hanging fruits. I am not saying that this is a liability. What I am implying is that not everyone is blessed with such good fortunes.       Figure 1: Riversgold Bengal Prospect within the Tambourah Project in the Pilbara Region of Western Australia.   Riversgold seems to have gone that extra step to explore for the economic grades of spodumene. During the interview, Julian talks about how they are realising that they may be too close to the granite source. The mineralisation may be more fruitful further. The drilling intercept from TMBRC003 (listed below) is what lays hidden below the surface.   TMBRC003 (See Figure 1) intersected:

• 14m @ 0.50% Li2O from 15m to 29m downhole including 1m @ 1% Li2O from 18m down hole
• Applying a 0.5% Li2O assay threshold cut-off within the 14m downhole intersection, two smaller intersections of 4m @ 0.9% Li2O from 17m to 21m and 3m @ 0.6% Li2O from 25m to 28m downhole were identified reflecting zonation of Li2O grade within the pegmatite unit.

When you watch today's Coffee with Samso, you will hear Julian Ford talking about a systematic process in trying to find an economic deposit. Readers must remember that the easy pegmatites have now all been discovered. What lies underneath in the depths of these projects will be the next prize. The lithium industry in Australia, the real spodumene discovery is still young.   The Riversgold's story is one that has developed from concept to what is now creating some credibility. This is the virtue of mineral exploration. The more you drill, the more confident you become in creating a dream into reality. I think Riversgold has come a long way since our first Coffee with Samso in October 2022.   Riversgold Limited (ASX: RGL) - Vectoring into the next Lithium Discovery.     Chapters: 00:00 Start 00:20 Introduction 01:05 What is Riversgold about? 02:59 Updates on Riversgold projects: Mt Holland. 04:27 Mt Weld. 06:45 Tambourah Lithium Project. 11:09 Hypothesis for finding lithium. 14:06 What should investors look out for as a parameter for grade and size? 15:16 Thoughts on the current lithium market. 18:50 How should investors look at Riversgold? 22:25 How is Riversgold spending resources on their projects? 25:22 Comments on doubts about the demand of lithium. 27:21 News flow. 28:26 Why RGL? 31:16 Conclusion