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WA-based explorer Riversgold Ltd (ASX:RGL) has rounded off its November aircore (AC) drilling program at the Northern Zone Gold Project, picking up a suite of strong intercepts – such as eight metres at 4.86 grams per tonne (g/t) – which continue its positive exploration story there.
Within that same hole were four metres at 5.09 g/t from 34 metres, including one metre at 18.22 g/t from 36 metres, and one metre at 17.96 g/t from 40 metres.
Another hole identified six metres at 3.13 g/t from 30 metres; two metres at 7.39 g/t from 33 metres, and one metres at 10.41 g/t from 34 metres.
This was the fourth AC program progressed across Northern Zone (with previous drilling being conducted in May, July and September) – which is located 25 kilometres east-southeast of Kalgoorlie – and comprised 26 holes, with these seeking to confirm and expand mineralisation associated with a large porphyry structure there.
Riversgold plans to release a mineralisation report at the end of this month, to be followed by a Mining Lease.
Chairman David Lenigas said the results added to expectations for this play.
“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,” he said.
“We are particularly encouraged by the recent success of Black Cat’s Myhree open pit operations only seven kilometres 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.”
Riversgold has been trading at 0.3 cents.
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