Riversgold Ltd (ASX:RGL, OTC:RVSGF) chairman David Lenigas talked with Proactive about the company’s latest assay results from the Kalgoorlie Gold Project in Western Australia, specifically the Northern Zone Intrusive Hosted Gold Project. Lenigas described early outcomes from the first six holes of a 21-hole shallow drilling program as “much better than what I originally thought they were going to be.”
The results stem from a two-phase drilling campaign targeting the top 50–60 metres of the system, with a view to informing a trial pit program being advanced in partnership with Mega Resources. Lenigas said the joint venture with Mega is expected to bring “very significant value,” highlighting that Mega will fund the full cost of the project through to production, with a 50/50 profit split in place.
Lenigas added, “We’ve got a lot of holes planned ... I can well imagine that we’ll be reporting drill results for the next 6 to 8 weeks.”
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