Join our daily newsletter At The Bell to receive exclusive market insights
Riversgold Ltd (ASX:RGL) has identified a highly anomalous gold trend with a strike length of around 12 kilometres and rock chips grading up to 101 grams per tonne (g/t) at its Tambourah gold project in Western Australia.
The discovery was made through fieldwork at the site – around 160 kilometres southeast of Port Hedland – with RGL spending much of the summer period analysing gold results across the 110sqkm tenement, looking at historical mine workings, alluvial operations, and rock chips across the 12km trend.
Chairman David Lenigas said this information would be plugged into drill targets for future work. “These gold results over this 12km strike really are quite exceptional for chip samples,” he explained.
“Tambourah was originally acquired for its lithium potential in the northwest corner of the tenement, but its gold potential is just becoming properly understood after the recent RGL work focussing on gold.
“The area has always been highly prospective for gold, with gold being discovered there in 1891, which resulted in a gold rush in 1894 with over 400 men working.
“RGL took hundreds of samples for gold last year and these have now been collated and summarised, and these gold results now clearly show a highly exciting corridor of
high-grade gold from rock chips.”
RGL has been trading at 0.3 cents per share.
Join the discussion: See what HotCopper users are saying about Riversgold Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
