Riversgold Ltd (ASX:RGL) Further High Grade Gold Intercepts at Northern Zone
26 September 2024
Price Sensitive Announcement $
Highlights:
- Further significant shallow gold intercepts for the remaining aircore (AC) drillholes at Northern Zone, located 25km east of Kalgoorlie, include:
▪ 8m at 4.86 g/t Au from 34m (NZAC090)
- inc. 4m at 5.09 g/t Au from 34m
- inc. 1m at 18.22 g/t Au from 36m
- inc. 1m at 17.96 g/t Au from 40m
- 6m at 3.13 g/t Au from 30m (NZAC097)
- inc. 2m at 7.39 g/t Au from 33m
- inc. 1m at 10.41 g/t Au from 34m
- 5m at 3.74 g/t Au from 31m (NZAC100)
- 1m at 5.72 g/t Au from 33m (NZAC092)
- 3m at 1.75 g/t Au from 33m (NZAC099)
- Continuation of the high-grade oxide zone within the 600m wide porphyry system has been expanded (see Figure 1)
- Results of these drill holes continue to confirm and enlarge the shallow gold mineralisation associated with the Northern Zone porphyry
- The dynamic Leapfrog gold model for Northern Zone will be updated with these latest results in the coming weeks, which will inform and guide future drill campaigns
- A mineralisation report is expected at the end of the month, with a Mining Lease application to be submitted thereafter
- Possible ore processing scenarios have been demonstrated by the recent success of Black Cat Syndicate Ltd1, at their Myhree open pit, located only 7km to the north of Northern Zone
Overview:
Riversgold Limited has announced that it has received the final batch of assay results from the November aircore (AC) drilling undertaken during Riversgold’s fourth aircore program at the Northern Zone Intrusive Hosted Gold Project, located 25km east-south-east of the Kalgoorlie Super Pit in Western Australia (refer to Figure 2 for location).
Company Notes:
David Lenigas, Chairman of Riversgold, said: “The Northern Zone Gold Project continues to bash out great gold intercepts and grow the footprint, and demonstrates excellent grades at relatively shallow depths over good widths within the overall 600m wide porphyry. We are particularly encouraged by the recent success of Black Cat’s Myhree open pit operations1 only 7km up the road from Northern Zone and we are assessing if similar operations can be achieved with Northern Zone after we convert the tenement to a Mining Lease – which is work in progress post the imminent completion of the mineralisation report.”
Full ASX Announcement: