Riversgold Ltd (ASX:RGL) continues to expand the gold footprint at the Northern Zone Intrusive Hosted Gold Project, 25 kilometres east-southeast of the Kalgoorlie Super Pit in Western Australia.
The company has now received all assay results from aircore drilling undertaken during the company’s third aircore drilling program at the project in 2024, with results including 58.09 g/t of gold within an intercept of 5 metres at 12.27 g/t gold — the highest-grade interval to date from shallow drilling at Northern Zone.
“This latest set of significant high-grade gold assays at Northern Zone continues to expand the gold mineralised footprint of the porphyry and confirm the presence of a significant gold system, located just east of Kalgoorlie, Western Australia,” Riversgold chair David Lenigas said.
The drilling continues to validate the geological model for the previously announced exploration target at the Northern Zone Gold 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 an exploration target of 2.5 million ounces to 4.8 million ounces of gold.
A third successful 2024 aircore program
After successfully completing aircore programs in May and July 2024, Riversgold engaged drilling contractor, Australian Aircore Drilling, to undertake a third aircore program for a further 30 holes in late August and early September.
The most recent drilling campaign involved a further 1,826 metres of aircore drilling completed at Northern Zone, lifting the total drilling this year to 7,426 metres of aircore drilling and 1,363 metres of reverse circulation drilling.
The drilling has shown that a significant gold mineralisation event has taken place within the project area. Targeted drilling continues to intersect the top of a large blind porphyry system, with widths now approaching 600 metres.
All historical and recent drilling data for a total of 189 drillholes at the Northern Zone Project has now been uploaded into Leapfrog software, enabling the company to generate a gold grade model. The company will use the software to guide the next round of drilling, following up on the latest high grade intercepts and to target the expanding footprint of the mineralised porphyry.
“We are now developing plans to drill more shallow holes across the tenement to further explore the upper elevation of this blind porphyry, with modelling using Leapfrog software driving the planning. As the Australian dollar gold price approaches $4,000, this gold project is fast becoming very interesting,” said Lenigas.