Riversgold Ltd (ASX:RGL) has ushered in the new year with a raft of additional high-grade sample results from its Saint John Project in New Brunswick, Canada.
High-grade copper, gold, silver, lead and antimony rock chip results promise to position the project as a strong multi-metal discovery in an underexplored region.
“Assays continue to confirm that the Saint John Project in New Brunswick, Canada, where multiple multi-metal targets are being defined over the ~25-kilometre strike of the project area, is a significant discovery, in a previously unexplored area of Canada with excellent infrastructure so close to the US border,” chair David Lenigas said.
Highlights from key prospects
Rock chip sampling at key prospects, including Hideaway, Little Lepreau and Prince of Wales, continues to confirm strong mineralisation within the 101-square-kilometre tenement package, just 50 kilometres from the United States border.
The Prince of Wales prospect has yielded remarkable results from outcrop samples collected along a roadside cutting. Highlights from various samples include:
- 10.55% copper, 9.5 g/t gold, 477 g/t silver and 6.03% lead;
- 10.15% copper, 65.8 g/t silver;
- 7.38% copper, 2.38 g/t gold, 148 g/t silver, 1.54% lead;
- 5.85% copper, 32.7 g/t silver; and
- 1.16% copper, antimony >1%, 111 g/t silver, 18.85% lead.
These results build on Riversgold’s December 2024 announcement that it had hit on a significant new Canadian copper discovery.
Strong assays were also reported from the Hideaway and Little Lepreau prospects. Highlights include:
- 1.43% copper, 8.05 g/t silver at Hideaway;
- 1.70 g/t gold at Hideaway; and
- 0.27% copper, 0.15% antimony, 46.7 g/t silver at Little Lepreau.
These multi-metal results from 72 reconnaissance rock chip samples reinforce preliminary mineralisation models and validate previous prospector activities in the area.
Infrastructure advantages
Riversgold resumed exploration activities on January 3 following the holiday break.
Despite the Canadian winter, fieldwork is progressing smoothly due to favourable conditions and excellent access to the project area, which lies just 5 kilometres from Saint John city.
The company is processing data from a drone magnetic survey completed in December over the Little Lepreau Prospect, with results expected soon. Additional rock chip samples are being submitted for analysis, further advancing the company’s geological understanding.
“Easy access to project areas and favourable climate is being proven by continued on-ground work which started again on January 3 after a break through the Christmas/New Year holiday,” Lenigras said.
Year-round exploration
“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.
“As highlighted, 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.
“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 are processing data from a Drone Magnetic survey that was completed in mid-December over Little Lepreau, and the results of this are due in the coming days. Overall, a great start to 2025.”