Riversgold Ltd (ASX:RGL) continues to enhance its lithium position in Western Australia through the granting of four new tenements in the company’s Mt Holland Project area.
The Western Australian Department of Mines, Industry, Regulation and Safety (DMIRS) has granted the new exploration licences - E70/6214, E70/6215, E70/6216, E70/6217.
These new tenements cover 32 square kilometres and are about 72 kilometres west of Covalent Lithium’s globally significant Mt Holland Lithium Mine in the Yilgarn Craton.
They increase Riversgold’s Mt Holland Project area to 41.2 square kilometres.
Footprint grows
Chief executive officer Julian Ford said: “We continue to grow aggressively our footprint in the Mt Holland area, our second lithium project area in Western Australia."
The tenements are seen as being highly prospective for lithium in spodumene-rich pegmatites.
Location of Riversgold’s tenement and tenement interests in the Mt Holland–Marvel Loch area, including the new tenements marked in red).
Exploration in area
Riversgold expects to begin on-ground exploration within two weeks on E77/2784, which is 600 metres east of the Mt Holland Lithium Mine.
"I’m also pleased to advise that we are now ready to start on-ground exploration on our project next to Mt Holland and expect our surface geochemical soil sampling crews to be on-site in around two weeks,” Ford said.
"The information from this upcoming soil sampling program will assist with targeting drill sites for our Q1 2023 maiden drilling program there.”