Riversgold Ltd Provides Update on Exploration and Development Activities

Strategic Insights -

Riversgold Ltd, an Australian company listed on the Australian Securities Exchange (ASX), has provided an update on its exploration and development activities during the June 2025 quarter across its Kalgoorlie East, Saint John, and Wodgina East projects. The company's focus on expanding high-grade mineralisation and refining drill targets has led to several significant discoveries, including high-grade gold hits at the Kalgoorlie East-Northern Zone Gold Project and strong polymetallic surface results at the Saint John copper-gold-silver-antimony project in Canada.

Key Takeaways:

  • At the Kalgoorlie East-Northern Zone Gold Project, a Program of Works was approved for an additional 200 drill holes aimed at expanding high-grade mineralisation within a 600-metre-wide porphyry system, with structural logging of four diamond holes to 500 metres' depth completed.
  • Recent reverse circulation (RC) drilling at the project yielded several shallow gold intercepts, including 7 metres at 3.62 g/t from 39 metres, 5 metres at 4.37 g/t from 37 metres, and 6 metres at 6.12 g/t from 35 metres.
  • Aircore (AC) drilling also delivered high-grade results, including 10 metres at 8.89 g/t from 46 metres and 7 metres at 3.14 g/t from 47 metres.
  • The mining lease application process is progressing, alongside a Miscellaneous Licence to facilitate ore transport to nearby processing facilities.
  • At the Saint John copper-gold-silver-antimony project in New Brunswick, Canada, Riversgold reported multiple high-grade rock-chip assay results, including 41.6 g/t gold and 26.8 g/t silver, 8.99% copper and 42.6 g/t silver, and 240 g/t silver.
  • A sample from the Prince of Wales Prospect returned 10.15% copper and 65.8 g/t silver, with accompanying high IP/chargeability values and low resistivity.
  • Broader drone MobileMT and ground IP surveys are underway to refine drill targets, supported by a fully approved 2,000-metre drilling program.
  • At the Wodgina East Project in the Pilbara, a site visit confirmed expenditure obligations are current, with historical rock chip sampling from Mesa 2 returning iron grades between 51.94% and 56.67%, highlighting iron ore potential alongside lithium prospectivity.

Statistics:

  • 200 drill holes planned at the Kalgoorlie East-Northern Zone Gold Project to expand high-grade mineralisation within a 600-metre-wide porphyry system.
  • 92.56% average gold recovery from five oxide samples at the Kalgoorlie East-Northern Zone Gold Project.
  • 41.6 g/t gold and 26.8 g/t silver reported at the Saint John copper-gold-silver-antimony project in Canada.
  • 8.99% copper and 42.6 g/t silver reported at the Saint John copper-gold-silver-antimony project in Canada.
  • 10.15% copper and 65.8 g/t silver reported from the Prince of Wales Prospect at the Saint John copper-gold-silver-antimony project in Canada.
  • 2,000 metres of drilling planned at the Saint John copper-gold-silver-antimony project in Canada.
  • 51.94-56.67% iron grades reported from historical rock chip sampling at the Wodgina East Project in the Pilbara.

Sources:

  • Riversgold Ltd (2023). Riversgold Ltd Provides Update on Exploration and Development Activities. [Press Release].