Riversgold Ltd (ASX:RGL) has lodged applications for eight additional tenements and acquired a granted exploration licence, potentially doubling its lithium landholding to 302 square kilometres in the Pilbara region of Western Australia.
The nine new tenements covering 151.7 square kilometres add to the 150.4 square kilometres in granted exploration licences the company already holds in Pilbara.
This includes the 99-square-kilometre Tambourah Lithium Project, where RGL is focusing its on-ground exploration efforts.
Lithium will be the primary focus of exploration on the new Pilbara ground, although the tenements are also prospective for gold and copper mineralisation.
Burgeoning green economy
Riversgold CEO Julian Ford said: “The addition of this new Pilbara ground is another example of Riversgold’s ability to expand its Western Australian battery metals portfolio cheaply and sensibly with a view to building value through targeted exploration.
“With recent developments including Tianqi’s $136 million bid for Essential Metals and SQM’s recent $20 million investment in Azure Minerals highlighting the growing appetite for raw materials from safe jurisdictions such as WA, we believe the strategy we are pursuing will deliver significant reward for shareholders over time.
“The Pilbara and Southern Cross-Mt Holland regions are our focus area for increasing our tenement holdings and conducting on-ground exploration to move each project to drilling.
“Lithium and rare earth elements are key to the growth of the burgeoning green economy and Western Australia is garnering strong international and domestic investment in these sectors. RGL is well funded to achieve its objectives for 2023.”
Location map of Riversgold’s granted and pending tenement holdings in the Pilbara.
About Riversgold
Riversgold is an exploration company with a lithium-focused strategy in the world-renowned Pilbara and Yilgarn cratons in Western Australia.
In 2022, the company acquired a suite of four lithium-prospective exploration tenements covering 150.4 square kilometres in the Pilbara region.
The key Tambourah Project is underexplored and has the potential to host a major lithium-caesium-tantalum system much like the nearby Pilgangoora and Wodgina deposits.
Further, the company has acquired a tenement package of 333.2 square kilometres prospective for lithium in the Southern Cross-Marvel Loch region of Western Australia including a tenement immediately bordering the Mt Holland Lithium Project.
The Riversgold portfolio also offers exposure to gold and nickel through its large landholding at the Kurnalpi Project in the Yilgarn.
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