Riversgold Ltd (ASX:RGL) is celebrating a raft of high-grade rock chip results during an initial site visit to the Saint John Project, a high-potential antimony, copper, gold and silver project in New Brunswick, Canada.
Near the border, infrastructure
The project covers 101 square kilometres and is ideally situated near infrastructure and in a Tier-1 jurisdiction known for antimony production – it’s also just 5 kilometres from the city of Saint John and 50 kilometres from the US border.
Riversgold secured a binding option to acquire 100% of the project on October 9 this year.
The site visit, which is ongoing, has confirmed high-grade mineralisation across multiple prospects within the project area.
These include the Prince of Wales and Little Lepreau prospects, where significant rock chip samples have been collected from quarries and roadside exposures.
Highlights
At Little Lepreau prospect, standout assays from rock chip samples include:
- 17.6% copper, 10.8% antimony, 0.78 g/t gold and 42 g/t silver;
- 11.6% copper, 6.8% antimony, 0.56 g/t gold and 43 g/t silver; and
- 7.61% copper, 5.17% antimony, 0.35 g/t gold and 1,500 g/t silver (48 ounces per tonne).
These results indicate that there is significant polymetallic potential within the prospect, including the presence of high-grade copper and silver mineralisation alongside notable antimony and gold grades.
At the Prince of Wales prospect, just 50 kilometres from the USA border, rock chip values uncovered include:
- 3.37% copper, 1.95% antimony and 939 g/t silver;
- 2.25% copper, 1.28% antimony and 819 g/t silver;
- 1.87% copper, 1.16% antimony and 538 g/t silver; and
- 4.68% copper and 109 g/t silver.
These results confirm the presence of high-grade copper and silver mineralisation at the prospect, with antimony adding further value to the polymetallic system.
Additionally, the Five Fathom area yielded a notable gold assay of 70.4 g/t gold, further showcasing the project's potential for high-grade precious metals.
Exploration outlook
Riversgold’s exploration team has mobilised swiftly to the project, benefiting from favourable weather conditions and accessible terrain.
The team has completed rock chip sampling at the Prince of Wales prospect and will proceed to the Little Lepreau area in the coming days.
Samples are being prepared for submission to ALS Laboratories in Moncton, New Brunswick, for further analysis.
The company is optimistic about the results and plans to integrate high-resolution magnetics, geochemical sampling and lidar data to expedite exploration and identify drill targets.
Chair David Lenigas said: “It is great that senior RGL management has mobilised so soon to our new Saint John Project in New Brunswick, Canada, where multiple multi-metal targets have been reported over an incredible ~25 kilometres.
Excellent ground conditions
“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.
“The Prince of Wales area has now been rock chip sampled and the team will now move down to Little Lepreau area in the coming days.
“Weather conditions have been excellent at between 9 and 14 degrees and the project has proved to be very easy to traverse.
“I look forward to further updates from the site visit and the submission of samples to ALS Laboratories at the nearby city of Moncton in New Brunswick.“