Riversgold Ltd (ASX:RGL) has hit more gold in aircore drilling at the Northern Zone Gold Project in Western Australia, further confirming the presence of a 600-metre-wide porphyry system with high-grade oxide gold.
Results included an intersection of 8 metres at 4.86 g/t gold from 34 metres with smaller, high-grade results of 4 metres at 5.09 g/t, 1 metre at 18.22 g/t and 1 metre at 17.96 g/t from 34 metres, 36 metres and 40 metres respectively.
RGL expects to produce a mineralisation report by the end of the month, with a Mining Lease application for the Northern Zone Project to follow soon after.
Assessing open pit potential
“The Northern Zone Gold Project continues to bash out great gold intercepts and grow the footprint and demonstrates excellent grades at relatively shallow depths over good widths within the overall 600-metre-wide porphyry," chairman David Lenigas said.
“We are particularly encouraged by the recent success of Black Cat’s Myhree open pit operations only 7 kilometres up the road from Northern Zone and we are assessing if similar operations can be achieved with Northern Zone after we convert the tenement to a Mining Lease – which is work in progress post the imminent completion of the mineralisation report.”
RGL will now update its dynamic Leapfrog model for the project with the latest drilling results, which in turn will inform and target future drilling campaigns.
Other results
Other gold results of note from this program include:
- 6 metres at 3.13 g/t from 30 metres, including 2 metres at 7.39 g/t from 33 metres and 1 metre at 10.41 g/t from 34 metres;
- 5 metres at 3.74 g/t from 31 metres;
- 1 metre at 5.72 g/t from 33 metres; and
- 3 metres at 1.75 g/t from 33 metres.
Following successful aircore programs completed in May, July and September 2024, Riversgold engaged drilling contractor, Australian Aircore Drilling to undertake a fourth aircore program for a further 26 holes in early November 2024.
A further 1,545 metres of aircore drilling was completed at Northern Zone in the most recent drilling campaign bringing the total number of metres drilled this year to 8,971 metres of aircore drilling and 1,363 metres of reverse circulation drilling.
Possible ore processing scenarios have been demonstrated by the recent success of Black Cat Syndicate Ltd (ASX:BC8) via their use of a turnkey funding, development and processing package at their Myhree/Boundary open pits to the north of the Northern Zone Project.