Riversgold Ltd (ASX:RGL) has received strong assay results from the first 10 holes in its November aircore drilling campaign at the Northern Zone Gold Project near Kalgoorlie in Western Australia, confirming a new high-grade zone on the eastern extensional area of the 600-metre-wide porphyry system.
“These are some of the best gold results seen for the shallow parts of the Northern Zone Gold Project to date,” Riversgold chair David Lenigas said.
“They demonstrate excellent grade at relatively shallow depths over good widths and expand the mineralisation to the far eastern side of the 600-metre-wide porphyry.”
The initial eastern exploratory holes far exceeded the company’s grade expectations and continue to confirm and expand the shallow gold mineralisation associated with the Northern Zone porphyry.
Significant shallow gold intercepts include:
- 7 metres at 4.07 g/t gold from 48 metres in NZAC107, including 4 metres at 6.72 g/t from 48 metres;
- 8 metres at 2.07 g/t from 48 metres in NZAC108, including 4 metres at 3.46 g/t from 51 metres;
- 4 metres at 7.47 g/t from 49 metres in NZAC113, including 2 metres at 12.36 g/t from 51 metres;
- 1 metre at 1.84 g/t from 48 metres in NZAC112;
- 2 metres at 1.06 g/t from 42 metres in NZAC094;
- 1 metre at 2.58 g/t from 64 metres in NZAC094; and
- 7 metres at 1.16 g/t from 41 metres to end-of-hole in NZAC095 including 1 metre at 4.13 g/t and 4 metres at 1.5 g/t.
Recent drill collar plan with gold grade contours and most recent drill intercepts in the new eastern area of high-grade gold mineralisation.
Expanding mineralised footprint
“As indicated before, the project continues to deliver highly material and significant mineralised intercepts over an increasing porphyry footprint,” said Lenigas.
“The recent set of significant high-grade gold assays at Northern Zone has continued to expand the gold mineralised footprint of the porphyry over a much larger area than originally thought and it has confirmed the presence of a significant gold mineralised system, that is located just 25 kilometres east of Kalgoorlie, Western Australia with all of the benefits of being brilliantly located to excellent roads and infrastructure.”
The drilling at Northern Zone continues to validate the geological model for the previously announced conceptual exploration target at the project of 200 million tonnes to 250 million tonnes at a grade of 0.4 g/t gold to 0.6 g/t gold, for 2.5 million ounces to 4.8 million ounces of gold.
Final assays results soon
Riversgold said that the dynamic Leapfrog gold model for Northern Zone would be updated once all assay results from this program had been received, with the final 16 holes expected within the next week.
A mineralisation report is required to apply for a Mining Licence and is expected by the end of the month. The Mining Lease application will be submitted as soon as the mineralisation report is received.