Riversgold (ASX: RGL) is set for the re-commencement of its 2025 drill operations at its Northern Zone gold project, with the next phase of drilling about to get underway in Western Australia.
The programme aims to optimally target and extend previous identified higher grade gold intercepts via a series of SW-NE orientated extensional lines using a nominal 20m spacing. A drilling contractor has been booked and will be mobilising to site in March 2025.
“Northern Zone continues to deliver significant, shallow gold intercepts over an increasing footprint, and we are excited with the imminent start of our 2025 drilling campaign," Chairman, David Lenigas, said.
"The recent submission to convert the project to a mining lease signifies our commitment and belief in this rapidly maturing project.
"The recent sets of significant high-grade gold assays at Northern Zone from our 2024 drilling, have continued to expand the gold mineralised footprint of the porphyry over a larger area and confirms the presence of a significant gold system, that is located just 25km east of Kalgoorlie, Western Australia. The Australian dollar gold price has passed $4,500/ounce, which bodes well for this exciting project.
"Drill baby drill, as President Trump would say, is our plan for 2025 here with this elevated gold price and this project gets bigger and more exciting the more we drill.”
In parallel, a Mining Lease application M25/389 has been submitted to Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) to convert Northern Zone to a Mining Lease. It’s important to convert this tenement to a mining lease to facilitate an operational situation here if the economics determine so.
The Northern Zone Porphyry Intrusive Hosted Gold Project is located 25km east of the Kalgoorlie Super Pit in Western Australia.
All historical and recent drilling at the Northern Zone Project has been uploaded into Leapfrog software and has enabled the Company to generate a gold grade model. This dynamic model has informed and guided the upcoming 2025 drilling campaign.
The drilling, which has been targeting higher grade shallow gold mineralisation, may lead to these areas being the future focus of other successful reverse circulation and diamond drilling8 programmes, below the higher-grade oxide gold mineralisation. Gold mineralisation remains open in multiple directions and will require further modelling and drill testing as the project matures. We will continue to further our understanding of the Project before proceeding with a maiden Mineral Resource Estimate (MRE).
