Riversgold Ltd (ASX:RGL, OTC:RVSGF) has restarted drilling at its Northern Zone Gold Project, about 25 kilometres east of the Kalgoorlie Super Pit in Western Australia. A grade-control rig is on site, with the initial program targeting shallow, previously undrilled ground (approximately 30–60 metres' depth) between the western and eastern mineralised zones.
Location of Northern Zone Gold Project in relation to the Kalgoorlie “Super Pit”.
The campaign is designed to expand the mineralised footprint and improve definition across the corridor separating the two zones. Northern Zone is hosted within a porphyry unit — a tonalite–trondhjemite intrusion (TTI) — characterised by elevated background gold and horizontal mineralised layers. The project lies along the Canon Shear/fault zone, where further drilling is required to establish the limits of mineralisation identified to date.
The mineralisation is largely horizontal, meaning holes drilled to date are oriented perpendicular to the gold horizons. The absence of groundwater to about 60 metres also supports efficient drilling using the company’s established techniques.
Ongoing drilling and geological work will inform the next phase of project evaluation, with the company progressing towards a maiden Mineral Resource Estimate once sufficient data has been collected.
“Northern Zone has delivered significant gold intercepts from 30 to 60 metres, with the flat laying mineralisation footprint in the oxide zone above the porphyry increasing with every drill campaign. We continue to expand the gold mineralised footprint of the porphyry over a larger area, which continues to confirm the presence of a significant gold system, that is located just 25 kilometres east of Kalgoorlie, Western Australia,” RGL chairman David Lenigas said.
“The grade control rig is the next step in the evolution of this project, and this program is designed to expand on the mineralisation that MEGA Resources is targeting for mineable material as announced on September 30 2025," he added.
Read more: Riversgold secures MEGA Resources-backed funding deal to advance Northern Zone Gold Project
“The Australian dollar gold price has recently passed $6,500/ounce, which bodes extremely well for this exciting and rapidly growing gold project," Lenigas said.
“This 2-week drilling program is the first of two expected for the remainder of the year with the second 2-3 week program scheduled to commence in mid-November. Results from this first program are expected to start coming through in early November, and we look forward to updating the market as they come to hand."
Potential for sizeable operation
Selected drill intersections reported to date include:
- 18 m at 4.14 g/t Au from 36 m (NZRC001)
- 10 m at 8.89 g/t Au from 46 m (NZAC127)
- 7 m at 3.14 g/t Au from 47 m (NZAC124)
- 5 m at 1.26 g/t Au from 46 m (NZAC132)
- 12 m at 0.80 g/t Au from 32 m (NZAC118)
- 6 m at 6.12 g/t Au from 35 m (NZRC012)
- 11 m at 1.38 g/t Au from 80 m (NZRC015)
- 18 m at 1.94 g/t Au from 49 m (NZRC016)
- 15 m at 2.10 g/t Au from 39 m (NZRC007)
- 5 m at 4.37 g/t Au from 37 m (NZRC008)
- 15 m at 0.75 g/t Au from 35 m (NZRC010)
- 8 m at 4.86 g/t Au from 34 m (NZAC090)
- 6 m at 3.13 g/t Au from 30 m (NZAC097)
- 5 m at 3.74 g/t Au from 31 m (NZAC100)
- 5 m at 12.27 g/t Au from 32 m (NZAC062)
- 6 m at 3.48 g/t Au from 73 m (NZAC077)
- 8 m at 2.07 g/t Au from 50 m (NZAC079)
- 4 m at 6.92 g/t Au from 57 m (NZAC061)
- 7 m at 3.90 g/t Au from 35 m (NZAC055)
- 16 m at 4.69 g/t Au from 30 m (NZAC033)
The geological model and previously announced Exploration Target for the Northern Zone Gold Project remain valid: 200 million–250 million tonnes (Mt) at 0.4–0.6 g/t Au, equivalent to an Exploration Target of 2.5 million–4.8 million ounces (Moz) of gold.
Conceptually, the company sees parallels between Northern Zone and Saturn Metals’ Apollo Hill Project, based on Saturn Metals’ PEA released on August 17, 2023 (ASX), which indicates potential for a sizeable low-grade heap-leach operation. Apollo Hill, located 175 kilometres due north of Northern Zone, has a resource of 118 Mt at 0.53 g/t Au for 2.03 Moz. This serves as a benchmark for aspirations at Northern Zone, which may have potential to be larger.