Riversgold Ltd (ASX:RGL) has made a discovery at the Saint John Project in New Brunswick, Canada, with multiple high-grade rock chip assays including up to 10.55% copper, 11.4 g/t gold, 1,600 g/t silver, 18.85% lead and greater than 1% antimony.
Samples were collected from roadside quarry pits and exposures within the project area close to the US border during a due diligence visit. Although easily accessible and well located to infrastructure, the area lacks any modern ground-disturbing exploration activities.
The 62 samples collected that led to this copper/gold/silver/lead/antimony discovery have been confined to very few limited surface outcrops in a circa 25-kilometre zone of felsic intrusions.
The sampling was aimed at validating previous prospector activity, preliminary concepts and obtaining regional background character of the lithologies.
Prince Of Wales prospect - RGL rock chip sampling locations and highlighting significant multi-element results.
Little Lepreau prospect - RGL rock chip sampling locations and highlighting significant multi-element results.
“Assays confirm that the Saint John Project in New Brunswick, Canada, where multiple multi-metal targets were visited over the ~25 kilometre strike of the project area, is a significant discovery, in an unexplored area,” Riversgold chair David Lenigas said.
“Easy access to project areas, the alteration and mineralisation viewed in the geology within the project area and the opportunities for the related IOCG and porphyry models that the company is targeting, make Saint John a key project for Riversgold.
“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 US border.
Prince Of Wales prospect location showing RGL rock chip sampling locations and highlighting significant multi-element results.
Work continues
Fieldwork is ongoing, with further samples submitted for multi-element analyses, while Riversgold has submitted applications for 2,000 metres of drilling.
Lenigas said, “I look forward to further updates from current site activities and the submission of further rock chip samples to ALS Laboratories at the nearby city of Moncton.
“We have a drone magnetic survey due to start at Little Lepreau in the coming days and have requested a quote for drone mobile MT also.”