Riversgold Limited (ASX:RGL) has confirmed its Canadian Saint John project boasts rockchips containing gold, copper, and antimony.
Located 50km from the US border, assay results on rock chips from the project – located from a quarry – include:
- One sample at 17% copper; 11% antimony; 0.8g/t gold
- One sample at 11% copper; 7% antimony; 0.6g/t gold
- One sample at 7% copper; 5% antimony; 0.4g/t gold
Silver is also a feature of mineralisation, as far as rock chips go, at the project. Another prospect called Prince of Wales, rockchips from a quarry and roadside cutting include:
- 3.4% copper; 1.9% antimony; 939g/t silver
- 2.3% copper; 1.3% antimony; 819g/t silver
- 1.9% copper; 1.2% antimony; 538g/t silver
A third area of interest – named ‘Five Fathom’ – has returned one rockchip at 70.4g/t gold.
These high grade rock chip results, in aggregate, are what has geotechs at Riversgold hopeful they can replicate such high grades in future drilling across the 101sq.km landholding located nearby Canada’s Bay of Fundy, itself not far from an established antimony mining region.
That drilling, all cards in order, would be unlocked via a recently completed $1.2M raise.
Antimony, for the uninitiated, is a critical mineral thrust into the spotlight in recent history after China curbed exports of the metal needed in high-end applications (as well as fire retardants.)
“Apex Geoscience, already used by RGL in Australia, are based in Eastern Canada and contracting them here will allow us to seamlessly and quickly begin detailed exploration activities on site,” RGL chair David Lenigas said.
“We plan to be very active on the ground in the coming weeks, with senior management arriving to site this week to kick-off exploration.
“We are eager to visit the site, especially the roadside mineralisation and quarry pits, which have already revealed the significant antimony, copper, gold and silver mineralisation. We can build on this early rock-chip sampling work done to date and further assess the potential scale of this Project.”
RGL last traded at 0.5cps.
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