Riversgold Ltd (ASX:RGL) has integrated all its drill data from the Northern Zone Intrusive Hosted Gold Project into an updated Leapfrog 3D model, which will help the company interpret gold results and refine future exploration and drilling programs.
Modelling will inform drilling
Riversgold chair David Lenigas said: “As illustrated in the Leapfrog figures within this release, the mineralisation envelope and footprint continues to grow, with the three-dimensional Leapfrog model being used to refine areas for the next round of drilling.
“The drilling which has been targeting higher-grade shallow gold mineralisation, may lead to these areas being the future focus of reverse circulation and diamond drilling below the higher-grade oxide gold mineralisation, to expedite the project towards a maiden mineral resource estimate (MRE).”
Recent drilling at the project, 25 kilometres east-southeast of the Kalgoorlie Super Pit in WA, has expanded the high-grade oxide gold zone within a 600-metre-wide porphyry system, which remains open in multiple directions.
Highlights
Some of the key intersections from a 26-hole aircore program include:
- 8 metres at 4.86 g/t gold from 34 metres;
- 1 metre at 5.72 g/t from 33 metres;
- 2 metres at 1.06 g/t from 42 metres;
- 1 metre at 2.58 g/t from 64 metres; and
- 7 metres at 1.16 g/t from 41 metres to the end of hole.
The company is preparing to submit a mining licence application and is evaluating processing options, drawing insights from Black Cat Syndicate’s success with turnkey funding and processing at its Myhree open pit, just 7 kilometres north.
Riversgold also sees parallels between Northern Zone and Saturn Metals’ Apollo Hill Project, which boasts a resource estimate of 1.839 million ounces of gold.
The company aims to continue modelling and drilling at Northern Zone before progressing to a MRE.
“We remain encouraged by the recent success of Black Cat’s Myhree open pit operations only 7 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,” added Lenigas.