Riversgold Ltd (ASX:RGL) has received further high-grade gold assays from a follow-up reverse circulation (RC) drill program at the Cutler prospect in Western Australia.
One hole towards the northern end of the prospect returned 1 metre at 62.9 g/t from 129 metres, with the drill bit intersecting the Cutler structure and returning an expected high-grade result.
Grades recorded so far have strengthened the concept of northerly plunging gold mineralisation and confirmed the presence of a mineralised structure over at least 500 metres of strike.
Riversgold managing director Alan Kelly said the 62.9 g/t intersection was from one of the deeper holes drilled at Cutler to date and had significant implications for the potential size of the target.
He said regarding a previously drilled hole: “It looks like [the hole] did not effectively test the Cutler structure, which means the gold mineralisation remains open down-plunge to the north, potentially for a significant distance.”
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Other highlights from the program include: 1 metre at 4.63 g/t; 3 metres at 1.29 g/t; and 10 metres at 0.85 g/t, including 3 metres at 1.44 g/t.
These results were intersected in a 30-metre wide zone of gold anomalism from 117-148 metres.
The hole that returned the high-grade intercept of 62.9 g/t also hit further mineralisation deeper down, intersecting 3 metres at 2.19 g/t from 145 metres.
A third hole encountered shallow high-grade oxide mineralisation with an assay of 4 metres at 5.31 g/t.
This hole also intersected the Cutler structure, returning further assays of: 5 metres at 0.88 g/t from 107 metres, including 2 metres at 1.53 g/t from 110 metres.
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Riversgold has recently received a program of work approval for further follow-up drilling at Cutler, which will start following completion of its Alaskan drilling campaign.
The Cutler prospect is near the Randalls processing plant owned by Silver Lake Resources Ltd (ASX:SLR), in the Eastern Goldfields region of Western Australia.
It is one of several targets identified from historical surface geochemical surveys completed during the late 1980s to early 1990s.