MINING REFINING

Riversgold reports more impressive gold grades at Northern Zone

Wed Aug 28 2024

Riversgold Ltd (ASX:RGL) chairman David Lenigas discusses the latest assay results from the Northern Zone Intrusive Hosted Gold Project, located 25 kilometres east-south-east of the Kalgoorlie Super Pit in Western Australia.

Lenigas expressed enthusiasm about the recent drilling results, which exceeded the company’s expectations. He highlighted the discovery of a high-grade supergene zone with grades ranging from 2 to 5 grams of gold per tonne, starting at about 30 meters in depth.

Lenigas also discussed the project's strategic location near Kalgoorlie, emphasising its excellent logistics, access to third-party processing plants, and proximity to other active operations like Black Cat Syndicate. He shared that Riversgold is planning further drilling, targeting additional JORC resources, with the goal of commencing a high-grade open pit operation.

"With the Aussie dollar gold price now at $3,700 an ounce, we’re very excited about the potential of this project," Lenigas said, reinforcing the company's positive outlook on the gold market.

Source: https://www.proactiveinvestors.co.uk/