Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has expanded the footprint of its Kalgoorlie Gold Project in Western Australia after securing a new adjoining tenement, strengthening the scale and development potential of its Northern Zone asset.
The company has entered into a binding agreement to acquire 100% of granted tenement P25/2541, located about 25 kilometres east of Kalgoorlie. The addition increases the overall project area to approximately 8.36 square kilometres, consolidating ground around known gold mineralisation and enhancing the project's strategic position.
"To secure this additional tenure provides us with further strategic optionality for the potential future gold mining plans for our Northern Zone Gold Project. This deal continues to increase our overall tenement footprint in the immediate Northern Zone Project area. We also feel there is excellent potential to identify additional gold targets on this new ground, and we look forward to exploring the tenement in the coming months," Riversgold technical director Ed Mead said.
Expanded footprint supports development flexibility
The newly acquired tenement sits adjacent to the Northern Zone porphyry gold project and provides additional ground that can support both exploration and future mining activities. Its proximity to existing mineralisation increases the potential to define further gold targets while also improving optionality for project development.
Importantly, the expanded landholding allows for the integration of key infrastructure, including potential locations for waste dumps and processing facilities. The added acreage also strengthens access to established transport routes, with the company moving to secure miscellaneous licences to support haulage corridors to third-party processing plants.
The transaction, valued at $80,000 in cash, further consolidates Riversgold’s control over the Northern Zone area.
While the vendor retains limited shallow prospecting rights and a small royalty interest, the acquisition significantly enhances Riversgold’s ability to plan and scale future operations across a more cohesive project area.