Riversgold reports up to 4.14g/t gold at Northern Zone project in WA
Company compares project to Saturn Metals’ 1.8Moz Apollo Hill project
Further drilling is planned
Special Report: Riversgold says the latest assays from its reverse circulation drilling at the Northern Zone intrusive hosted gold project in WA have delivered gold mineralisation.
The project is around 26km east-south-east of the Kalgoorlie Super Pit and 175km from Saturn Metals’ (ASX:STN) comparable Apollo Hill project, which has a resource estimate of 105Mt at 0.54g/t gold, totalling 1.839Moz and a preliminary economic assessment which suggests the potential for a sizeable low-grade heap leach operation.
Gold mineralisation was intersected both to the north and south of the company’s maiden diamond drill hole traverse at the project. Best results include:
18m at 4.14g/t Au from 36m
54m at 0.38g/t Au from 158m
15m at 0.66g/t Au from 160m; and,
9m at 0.85g/t Au from 176m.
Riversgold (ASX:RGL) previously announced an exploration target for the project of 200-250Mt at a grade of 0.4-0.6 g/t Au for an exploration target of 2.5-4.8Moz gold.
The company says it sees parallels between its project and Apollo Hill, with Saturn’s project development serving as a benchmark for its aspirations at Northern Zone, albeit with the potential for Northern Zone to be even larger.
Northern Zone project map showing proximity to the Kalgoorlie Super Pit. Pic via DEG
More exploration on the cards
Further drilling is being planned that will extend exploration to the north-east, following the trend of the mineralised porphyry.
“These latest results from our initial RC campaign at NZ exceed our expectations, revealing shallower supergene gold mineralisation than anticipated and delineating the southwest boundary of the gold system,” RGL chairman David Lenigas said.
“Our next phase of drilling will explore extensions to the north-east, north-west, and south-east, building on our maiden diamond drilling program that encountered mineralisation reaching depths of 450m and thicknesses exceeding 150m.
“A follow-up drill program will also target an identified fault, believed to be a controlling feature of mineralisation in the area.
“This follow-up campaign will be finalised after we receive all assays from the recent aircore program, conducted concurrently with the RC drilling.
“We look forward to receiving these drilling results shortly.”
This article was developed in collaboration with Riversgold, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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