Riversgold Ltd (ASX:RGL) has materially grown the Bengal Prospect at Tambourah Lithium Project in Western Australia with the addition of two more parallel lithium-bearing pegmatites, discovered in an extensive geochemical sampling program with the aid of a deep ground penetrating radar (DGPR) orientation field program.
The new discoveries add to three pegmatite veins prospective for lithium that had already been discovered at the Bengal prospect, expanding the prospect two-fold to 650 metres by 400 metres.
Investors have responded positively with RGL shares as much as 14,82% higher this morning to $0.031.
Riversgold’s DGPR program was designed to identify the depth and strike of the pegmatite systems at Bengal.
The company is processing results from portable x-ray fluorescence (pXRF) analysis and the DGPR program at present, with results expected in mid-August 2022.
Tambourah geochemical results
Riversgold is using this latest round of geochemical and geophysical orientation activities to test the suitability of those techniques for the Tamourah project, intending to generate accurate, drill-ready targets for the tenure.
The geochemical sampling program RGL completed across the project’s lithium targets includes 797 samples covering an area of 1.5 square kilometres, with a further 6.6 square kilometres now being sampled for lithium and gold in a second soil sampling program.
Location of recently completed exploration activities.
Riversgold is a rapidly growing lithium and gold explorer with projects prospective for lithium, nickel, gold and copper in the Pilbara and Yilgarn cratons in Western Australia.
In 2022, the company acquired a suite of four lithium-prospective exploration tenement applications covering 164 square kilometres in the Pilbara region.
Riversgold considers the key Tambourah Project to be under-explored and has the potential to host a major lithium-caesium-tantalum system much like the nearby Pilgangoora and Wodgina deposits.