Riversgold Limited (ASX: RGL) has completed its maiden diamond drilling programme at the Northern Zone intrusive hosted gold project located 26km east southeast of Kalgoorlie, Western Australia.
A four-hole oriented core diamond drilling programme for 1,379m has now been completed and RGL expects to complete the earn-in commitments for the 80% interest in the tenement once the assays and reporting have been completed.
David Lenigas, executive chairman of RGL, said, “The very wide zones of intense alteration in all four diamond drill holes on this cross section demonstrates the high gold prospectivity of the Northern Zone project and endorses RGL’s investment in this project in a well-endowed province, which is seeing the emergence of intrusive related gold hosted mineralized systems as a genuine host to gold mineralization. The big questions on actual gold grades and widths will be answered when ALS complete their work in their Perth facilities over the coming weeks.”
The Northern Zone has an exploration target of 200Mt to 250Mt at a grade of 0.4g/t to 0.6g/t, for an exploration target of 2.5Moz to 4.8Moz of gold.
The initial aims of the first phase of diamond drilling exploration at Northern Zone are to confirm the mineralization style, confirm the very wide widths of gold mineralization seen previously in the RC drilling, and confirm gold grades and gold distribution.
Secondly, the company aims to generate mineral orientation and structural information and, lastly, to generate sufficient core to allow for both metallurgical studies and for the geophysical characterization of the core with the view of potentially using this information to fast track and better define the size of the mineralized envelope, through improved drill design.
RGL will soon complete logging of the core, undertake core cutting and sampling of the core, complete interpretation of the geological and assay results, and undertake further drilling towards a resource estimate at Northern Zone.
To find out more, please visit www.riversgold.com.au
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