Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Riversgold gets the OK to start maiden drill program at lithium project

Published 04/10/2022, 11:23 am
Updated 04/10/2022, 12:00 pm
© Reuters.  Riversgold gets the OK to start maiden drill program at lithium project

Riversgold Ltd (ASX:RGL) has completed a heritage survey and received approval for its maiden drilling at Bengal and Lion/Ragdoll prospects at the 100%-owned Tambourah Lithium Project in the Pilbara region of Western Australia.

The heritage survey was completed over the majority of the 40 lithium-bearing pegmatites covering a combined 2.7 kilometres of interpreted lithium-bearing pegmatites at Tambourah.

Approval has also been received from DMIRS for two Programs of Work (PoWs) covering drilling on Tambourah’s prospects where rock chip samples graded up to 3.14% Li2O.

Ready to mobilise

“We are now in a position to commence drill site preparation and mobilise the drill rigs to site at Tambourah,” RGL chief executive officer Julian Ford said.

“The drill program planned for this quarter will test the grade, width and extent of the LCT lithium mineralisation over the cumulative 2 to 3 kilometres of strike length.

"There are still a number of months of the drilling window left this year and we anticipate a substantial amount of drilling can be completed on this exciting LCT project.”

It was just over a month ago that RGL increased the number of interpreted lithium-bearing pegmatites from 12 to 40 at Tambourah, doubling the prospective strike of the project from 1.3 kilometres to 2.7 kilometres in total length.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.