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- Riversgold (RGL) has commenced a maiden diamond drilling program at the Queen Lapage Project, east of Kalgoorlie in Western Australia
- The project contains a 12-kilometre gold anomaly beneath Lake Yindarlgooda, a salt lake, where air-core drilling previously returned up to 0.25g/t gold
- Over the past six months, the company has reviewed geophysical, geochemical and geological information, and completed a 3D seismic survey
- The 10-hole program will target deep tapping structures identified in the survey and test the interpretation of the preparatory work
- Shares closed 6.7 per cent higher at 4.8 cents
Riversgold (RGL) has commenced a maiden diamond drilling program at the Queen Lapage Project, east of Kalgoorlie in Western Australia.
The project contains a 12-kilometre gold anomaly beneath Lake Yindarlgooda, a salt lake. The target is supported by confident geophysical and geochemical anomalies, where air-core drilling previously returned up to 0.25g/t gold.
Quarterback Geological Services advisor Peter Williams said Queen Lapage is showing some indications of similarities to the St Ives Gold Camp, also located in the Eastern Goldfields.
“What I am seeing here at Queen Lapage is that the project has all the hallmarks of the system that we identified at St Ives, under Lake Lefroy, back in the late 80s when I was working at Western Mining Corporation.”
“Queen Lapage has all the features that contribute to creating big gold systems, and I am very excited to be a part of the team that is drilling diamond core at depth under Lake Yindarlgooda for the first time.”
Over the past six months, the company has reviewed geophysical, geochemical and geological information, and completed a 3D seismic survey.
The 10-hole program will target deep tapping structures identified in the survey and test the interpretation of the preparatory work.
“All the information we have gathered to date points to a potential large gold system under Lake Yindarlgooda and this drilling program will hopefully take us to the next significant discovery in the Eastern Goldfields,” said Riversgold Executive Director Xavier Braud.
“We know we have the right rocks and the right structures in the right place. All that is left for us now is to put drillholes into this exciting system.”
Shares closed 6.7 per cent higher at 4.8 cents.
