Riversgold Ltd (ASX:RGL, OTC:RVSGF) has executed a Deed for Grant of Mining Tenement and a Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group, covering key tenure at its Kalgoorlie Gold Project in Western Australia.
The agreements relate to tenements M25/389 and P25/2848 over the company’s Northern Zone Gold Project, located about 25km east of Kalgoorlie, and are intended to support the grant of a Mining Lease and establish protocols for heritage surveys, safeguards for site protection and clearance procedures for activities under its tenure, which it expects will help streamline approvals as the project advances.
Northern Zone Project Map showing proximity to the Kalgoorlie "Super Pit", Golden Mile/Fimiston.
Exploration director Ed Mead said the agreements represent a major milestone for the project and form part of what is required to convert the tenements to a Mining Lease, as the company works toward gold production at Northern Zone in 2026.
“We are very pleased to have signed this very important set of agreements with the Marlinyu Ghoorlie. These landmark agreements reflect the Northern Zone Gold Project's owner’s commitment to working in partnership with the Marlinyu Ghoorlie people in a spirit of goodwill and mutual respect. This is a major milestone towards the advancement of the project and a key part of what is needed to convert the tenements to a Mining Lease and our moves to open up Northern Zone to gold production in 2026 with MEGA Resources."
MEGA agreement outlines funding and profit split
Riversgold also highlighted its Right to Mine and Co-Operation Agreement with MEGA Resources for the Northern Zone Gold Project.
Under the arrangement, MEGA is to fund 100% of development and mining costs, including haulage, haul road maintenance and processing expenses. Any profits generated will be split evenly between MEGA and the project owners.
Riversgold secured its 80% interest in Northern Zone in February 2025 after exercising its option under a farm-in agreement signed with UK-listed Oracle Power Plc in May 2023.
Northern Zone is owned 80% by Riversgold and 20% by Oracle, and the company said this ownership structure will not change under the MEGA agreement.