Riversgold Ltd (ASX:RGL) has started on-ground exploration at its Abigail Lithium Project in Quebec within the well-known James Bay lithium district and has mobilised a field crew to its lithium tenements in WA's Pilbara.
Just last week, RGL signed an exclusive option agreement to acquire 100% of the Abigail Lithium Project, which comprises seven lithium-prospective projects.
The strategic acquisition gives RGL a foothold between Critical Element Ltd’s Rose lithium deposit with a probable reserve of 26.3 million tonnes at 0.87% Li2O and Nemaska Lithium Ltd’s Whabouchi deposit with 36.6 million tonnes at 1.3% Li2O.
Read more: Riversgold acquiring seven lithium prospective projects in James Bay area of Canada
A full work schedule
“The coming weeks and months will see regular update announcements relating to RGL’s lithium projects in Western Australia and Quebec - from extensive soil sampling programs being completed, rocks chip and mapping results being obtained and released, and a drilling campaign to be undertaken,” Riversgold CEO Julian Ford said.
“Lithium exploration is RGL’s key objective, and at present we are well-funded to advance all our key exploration projects. The next few months should be very informative and exciting for shareholders.”
The company has a full work schedule across its projects, most notably a maiden 2,000-metre RC drilling campaign that is set to start on September 25 at E77/2784, which is immediately east of Covalent Lithium’s Mt Holland Lithium Mine.
In conjunction with work at Abigail and Mt Holland, RGL is awaiting results of 1,672 stream geochemical samples that are in the lab system from the Tambourah Lithium Project. Once collated, the company expects to release additional exploration information in the coming weeks.
Further to this, a field crew has been mobilised to the Upper 5 Mile Creek Lithium Project site, around 100 kilometres ESE of Tambourah.
Field crews have also been mobilised to the Wodgina East Lithium Project, around 2 kilometres southeast from Wodgina, and to the Forrest Lithium Project immediately east and west of Australian Critical Minerals Ltd’s newly discovered Cooletha Project.