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Gold mining

Riversgold Limited Announces Significant Gold Intercepts in Northern Zone Intrusive Hosted Gold Project

Strategic Insights

— 1 min read

Riversgold Limited has announced the results of its third 2024 aircore drilling program at the Northern Zone Intrusive Hosted Gold Project in Western Australia. The program targeted 30 holes over a 1,826-meter AC drilling campaign, bringing the total meters drilled this year to 7,426 meters of AC drilling and 1,363 meters of reverse circulation drilling. The aircore holes were drilled using a blade to drilling refusal, and the cuttings were logged by RGL geologists, showing significant gold mineralization within the project area.

Key Takeaways:

  • The company has received all assay results from the third 2024 aircore drilling program, with significant intercepts across 14 holes.
  • The program has identified multiple zones of gold mineralization, with intercepts including 16m @ 4.69 g/t Au, 4m @ 6.9 g/t Au, and 7m @ 3.9 g/t Au.
  • Reverse circulation drilling targeted the shallower, up-dip portion of the mineralized system, yielding significant intercepts including 18m @ 4.14 g/t Au and 54m @ 0.38 g/t Au.
  • The company has drawn parallels between Northern Zone and Saturn Metals' Apollo Hill Project, suggesting the potential for a sizeable low-grade heap leach operation.
  • The total metres drilled this year at Northern Zone is 7,426m of AC drilling and 1,363m of reverse circulation drilling.

Statistics:

  • 1,826 meters of AC drilling completed in the third 2024 aircore program.
  • 7,426 meters of AC drilling and 1,363 meters of reverse circulation drilling completed this year.
  • 105 Mt at 0.54 g/t gold resource estimate for the Northern Zone project.
  • 1,839 Moz (1.839 x 10^6 oz) gold resource estimate for the Northern Zone project.
  • 30 holes targeted in the third 2024 aircore program.

Sources:

  • Riversgold Limited News Release
  • ASX Listing: RGL
  • Australian Aircore Drilling (Mick Shorter)
  • Leapfrog Software
  • Figure 1: Gold Grade Model
  • Figure 2: Location of Northern Zone Intrusive Hosted Gold Project
  • Figure 3: Drilling Locations
  • Tables 1-3: Location and Assay Results

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