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Riversgold geologists visit targets at Saint John high-grade copper, gold, antimony, and silver project

Published 28/10/2024, 01:19 pm
© Reuters.  Riversgold geologists visit targets at Saint John high-grade copper, gold, antimony, and silver project

Riversgold Ltd (ASX:RGL) has completed a site visit at the Saint John high-grade copper, gold, antimony, and silver project in New Brunswick, Canada to to view and report back on sites with reported grades up to 17.6% copper, 70.4 g/t gold, 10.8% antimony, and 1,500 g/t silver.

The visit follows recent news that Riversgold has signed an option agreement to acquire 100% of the Saint John project, which covers 101 square kilometres over five claims.

Read more: Riversgold to acquire Saint John high-grade antimony, gold, copper and silver project in Canada

During the site visit, company geologists took 64 rock chip samples to validate previous samples sites and also expand sampling into new areas not previously sampled.

The company also contracted a local geologist to continue sampling over the project area, who was part of the site visit that included a day with geologists from the New Brunswick Department of Natural Resources (DNRED).

Riversgold says the insight gained into the geology and structural setting of the Saint John Project area will guide exploration and confirm the company’s thoughts on the potential of the project for IOCG and porphyry style mineralisation models.

The site visit was a general introduction to all the mineralisation that has been recorded to date, and how this relates to Government remote sensing data (magnetics and lidar).

The team has verified and visited multiple rock quarries over the project area and roadside exposures where samples were taken, and lots of positive observations have been recorded. Multiple rock-chip samples were taken from areas of high interest and 64 samples have been submitted to ALS in the nearby city of Moncton.

Multiple multi-metal targets visited

Riversgold chair David Lenigas said: “Senior RGL management have had a successful trip to the Saint John Project in New Brunswick, Canada, where multiple multi-metal targets were visited over the ~25 kilometre strike of the project area.

“They reported easy access to areas previously sampled and also targeted new areas not previously sampled. They also met with geologists from the Department of Natural Resources for a 1-day field trip and held discussions on the geology and structural setting of the project area and the opportunities for IOCG and porphyry models.

“The Project is ideally located for near year-round exploration - being only 5 kilometres from the city of Saint John and 50 kilometres from the USA border."

Drone magnetic survey planned

A high-resolution drone magnetic survey contract has been signed with Terrascope, to cover the Little Lepreau prospect, and is due to be flown in about 2 weeks’ time with processed images expected about 2 weeks from flying

“Further updates will follow from the ongoing sampling program, the drone magnetic survey that will soon be getting underway, and reporting of results from the first batch of samples submitted to ALS Laboratories at the nearby city of Moncton in New Brunswick,” Lenigas said.

Read more on Proactive Investors AU

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