Riversgold Ltd (ASX:RGL) has increased its critical minerals tenement position around Azure Minerals’ major Andover lithium discovery and Raiden Resources’ Andover South lithium discovery.
Riversgold’s Karratha area tenement portfolio now stands at 470-square kilometres with the addition, via direct application, of the 207-square kilometre tenement (E47/5086), immediately south of the company’s new 189 square kilometre Andover South tenement (E47/5072) and its 74-square kilometre tenement (ELA 47/50693), which is just 8-kilometres from the Andover lithium discovery.
The company now has a significant position around the major Andover lithium discovery, which has produced drilling intersections of up to 209.4 metres at 1.42% lithium oxide.
New lithium discoveries around Andover by Raiden Resources, as well as Sabre Resources and Greentech Metals Ltd to the west of Andover, shows that the whole area has tremendous potential for further discoveries.
The recent discovery of lithium by Wildcat Resources Ltd at Tabba Tabba has also shown that substantial lithium drill intercepts can be found in geological environments previously not considered to be prime geological settings for major lithium discoveries.
However, any ground around Andover is highly prospective for lithium unless proven otherwise.
Riversgold chair David Lenigas said: “RGL has very quickly built up a very large tenement position around Azure and Raiden’s lithium discoveries near Karratha.
"We like the prospectivity of all of this land position for lithium, gold and nickel and have already commenced detailed exploration here.”
Geophysics programs are underway that are designed to identify buried pegmatites for surface ground truthing.
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