Riversgold announces successful aircore drilling results at Northern Zone

Riversgold Limited (ASX:RGL) has reported the completion of its third 2024 aircore drilling program at the Northern Zone Intrusive Hosted Gold Project, situated 25km east-south-east of the Kalgoorlie Super Pit in Western Australia. The company has received all assay results from the aircore drilling campaign, which has revealed a new highest-grade interval and significant shallow gold intercepts.

Executive Chairman's Perspective on the Results

This latest set of significant high-grade gold assays at Northern Zone continues to expand the gold mineralised footprint of the porphyry and confirm the presence of a significant gold system, located just east of Kalgoorlie, Western Australia. We are now developing plans to drill more shallow holes across the tenement to further explore the upper elevation of this blind porphyry, with modelling using Leapfrog software driving the planning. As the Australian dollar gold price approaches $4,000, this gold project is fast becoming very interesting.

Outlook and Future Plans

Riversgold's successful aircore drilling campaign has revealed a new highest-grade interval and significant shallow gold intercepts at the Northern Zone Project. The company continues to validate the geological model for the previously announced Exploration Target of 200Mt - 250Mt at a grade of 0.4 g/t Au - 0.6 g/t Au for an Exploration Target of 2.5Moz 4.8Moz of gold. The mineralisation remains open in multiple directions, necessitating further drilling campaigns to further the understanding of the project before proceeding with a Mineral Resource Estimate (MRE). Riversgold aims to continue targeted drilling to intersect the top of a large blind porphyry system and to expand the footprint of the mineralised porphyry. The company draws parallels between Northern Zone and Saturn Metals' Apollo Hill Project, aiming for Northern Zone to be an even larger project with the potential for a sizeable low-grade heap leach operation.