Riversgold (ASX: $RGL) Northern Zone Gold Project drilling update

Riversgold Limited (ASX: $RGL) has announced the successful completion of a 27 aircore (AC) drilling program at the Northern Zone Gold Project, resulting in the doubling of the prospective gold system. The drilling targeted the oxide zone to fresh rock stratigraphy with the aim of expanding the mineralised porphyry footprint, which remains open. The company is fully funded to promptly begin the next phase of drilling operations at Northern Zone, with a drilling rig already contracted for the middle of August. The Northern Zone Gold Project is located 25km east of Kalgoorlie.

Executive commentary on Northern Zone Gold Project drilling results

David Lenigas, Chairman of RGL, expressed enthusiasm about the results, stating, 'Hot off receiving the results from the recent, successful RC drill program at Northern Zone near Kalgoorlie, these aircore results show we have now more than doubled the porphyry footprint than we originally thought, with the full extent of these porphyries yet to be fully delineated. A new drill program is expected to start around mid-August to infill supergene zones identified with the last round of drilling.'

Summary of Riversgold's Northern Zone Gold Project update

Riversgold's successful AC drilling program at the Northern Zone Gold Project has significantly expanded the prospective gold system, with further targeted drilling planned over the expanded footprint of the mineralised porphyry. The company is fully funded to commence the next phase of drilling operations, with a drilling rig already contracted for the middle of August. The Northern Zone Project has an Exploration Target of 200 to 250 million tonnes at a grade of 0.4 g/t to 0.6 g/t Au for an Exploration Target of 2.5 to 4.8 million oz of gold. The company aims to resume drilling operations shortly to test and further expand the large porphyry system, with the potential for Northern Zone to be a significant gold project akin to Saturn Metals' Apollo Hill Project.