Proactiveinvestors Australia Riversgold Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Riversgold Ltd RSS feed en Thu, 20 Jun 2019 07:13:33 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Riversgold reveals high-grade drill results confirming potential of Little gold prospect ]]> https://www.proactiveinvestors.com.au/companies/news/220369/riversgold-reveals-high-grade-drill-results-confirming-potential-of-little-gold-prospect-220369.html Riversgold Ltd (ASX:RGL) has received a number of new high-grade gold results from its Little gold prospect (RGL 80%), part of the wider Farr-Jones project in the Eastern Goldfields of Western Australia.

Resampling of 1 metre samples from the most recent aircore program and analysis by fire assay has confirmed an intersection of 12 metres at 1.4 g/t gold from 32 metres (including 8 metres at 2.04 g/t gold) at the Little prospect.

Results including 1 metre re-splits of Little aircore drilling

Riversgold chairman Rod Webster said: “With these new results from Little we have now intersected zones of anomalous mineralisation over a 2.5 kilometre long corridor.

“The Farr-Jones project continues to show potential to host a number of gold deposits adjacent to the Randall Fault”.

READ: Riversgold hits high-grade gold up to 6.72 g/t at Farr-Jones prospect in WA’s Eastern Goldfields

Riversgold is planning follow-up drilling at both the Farr-Jones and Cutler projects, where a high-grade drill intersection of 1 metre at 62.9g/t gold at the northern end of the Cutler project has not yet been followed up.

READ: Riversgold defines gold structure at Cutler prospect with further high-grade results ]]>
Thu, 16 May 2019 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220369/riversgold-reveals-high-grade-drill-results-confirming-potential-of-little-gold-prospect-220369.html
<![CDATA[News - Riversgold boosts cash with Greenwich Group convertible notes ]]> https://www.proactiveinvestors.com.au/companies/news/219754/riversgold-boosts-cash-with-greenwich-group-convertible-notes-219754.html Riversgold Ltd (ASX:RGL) has added to its cash holdings by drawing $100,000 from convertible notes issued by Greenwich Group Pty Ltd.

The group is a related entity of a director of Riversgold substantial shareholder Greenwich Equities Pty Ltd, John Hilton.

Greenwich Group’s Riversgold notes are due in 18 months, with cash interest on the principal amount owing to apply at a rate of 5% per year, with the sum calculated on a monthly basis and payable 3-monthly in arrears.

READ: Riversgold reveals board and management changes

Riversgold can redeem the notes before they fall due or convert them into shares priced at either 2.2 cents each or a 20% discount to the 5-day volume-weighted average price on the issue of a conversion notice.

The higher priced of the two values would be used for a transaction.

READ: Riversgold outlines 11 kilometres of gold anomalism at Queen Lapage in WA

Western Australian explorer Riversgold reported its CEO and executive director Alan Kelly had resigned from the company six weeks ago, as revealed on March 26, 2019.

Riversgold later lodged proceedings against its former executive in the Supreme Court of Western Australia asking the court to set aside an April 9, 2019 post-resignation statutory demand from Kelly for $121,000 that he had allegedly claimed had fallen due as a payment in lieu of notice.

READ: Riversgold hits high-grade gold up to 6.72 g/t at Farr-Jones prospect in WA’s Eastern Goldfields

Riversgold had $348,000 cash at the end of the March quarter of 2019 and announced in on April 17, 2019 it planned to spent $25,000 on exploration in the June quarter of 2019.

Chairman and non-executive director Rod Webster has taken up an interim executive role while Riversgold company secretary Kevin Hart has joined the board as a non-executive director.

Riversgold securities added 0.1 cents, or 3.85%, by mid-afternoon to rest at 2.7 cents.

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Tue, 07 May 2019 01:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219754/riversgold-boosts-cash-with-greenwich-group-convertible-notes-219754.html
<![CDATA[News - Riversgold reveals board and management changes ]]> https://www.proactiveinvestors.com.au/companies/news/217185/riversgold-reveals-board-and-management-changes-217185.html Riversgold Ltd (ASX:RGL) has accepted Allan Kelly’s resignation as chief executive officer and executive director of the company.

Chairman and non-executive director Rod Webster will step into an interim executive role while the company conducts a search for a new chief executive officer.

New non-executive director

Riversgold has appointed Kevin Hart as a non-executive director of the company.

Hart has been Riversgold’s company secretary since February 2017 and has over 30 years of experience in accounting, management and administration of publicly listed companies in the mining and exploration industries.

READ: Riversgold outlines 11 kilometres of gold anomalism at Queen Lapage in WA

The company’s maiden aircore drilling campaign has outlined gold anomalism over 11 kilometres of strike at the Queen Lapage project in the Eastern Goldfields of WA.

The company said that the drilling on Lake Yindarlgooda using a specialised lake drill rig confirmed the potential for discovery of significant gold mineralisation.

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Tue, 26 Mar 2019 16:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217185/riversgold-reveals-board-and-management-changes-217185.html
<![CDATA[Media files - Riversgold MD draws comparisons between Queen Lapage and the Invincible deposit ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12384/riversgold-md-draws-comparisons-between-queen-lapage-and-the-invincible-deposit-12384.html Thu, 28 Feb 2019 13:24:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12384/riversgold-md-draws-comparisons-between-queen-lapage-and-the-invincible-deposit-12384.html <![CDATA[News - Riversgold outlines 11 kilometres of gold anomalism at Queen Lapage in WA ]]> https://www.proactiveinvestors.com.au/companies/news/215458/riversgold-outlines-11-kilometres-of-gold-anomalism-at-queen-lapage-in-wa-215458.html Riversgold Ltd’s (ASX:RGL) maiden aircore drilling campaign has outlined gold anomalism over 11 kilometres of strike at the Queen Lapage project in the Eastern Goldfields of WA.

The company said that the drilling on Lake Yindarlgooda using a specialised lake drill rig confirmed the potential for discovery of significant gold mineralisation.

This campaign consisted of 156 aircore holes on a nominal 800x200-metre spaced grid.

READ: Riversgold’s maiden aircore drilling outlines strong gold potential at Queen Lapage

Riversgold’s managing director Allan Kelly said the company was excited about the scale and tenor of the gold anomalism outlined by the first ever lake drilling campaign at Queen Lapage.

“We have now outlined several very large areas of coherent regolith gold anomalism in consecutive drill holes and across multiple widely spaced drill lines at Queen Lapage.

“These are very large gold anomalies that appear to be associated with bedrock features interpreted from the regional aeromagnetic data and any one of them is large enough to indicate the presence of a significant gold deposit under the lake.”

Strong regolith gold anomalism was returned while many holes ended in anomalous gold of up to 895ppb.

Encouraging results

Best results from the second and final set of assays are:

4 metres at 120ppb from 12 metres and 5 metres at 215ppb from 24 metres to the end of hole; 4 metres at 316ppb from 24 metres; 4 metres at 267ppb from 56 metres; 4 metres at 869ppb from 32 metres; and 12 metres at 92ppb from 20 metres, including 4 metres at 107ppb from 28 metres to the end of hole. READ: Riversgold hits high-grade gold up to 6.72 g/t at Farr-Jones prospect in WA’s Eastern Goldfields

The best result from the program was 12 metres at 599ppb, including 4 metres at 1,499ppb and this came from a relatively shallow hole.

Combined with historical drilling conducted on islands within the lake, the recent drilling has outlined coherent regolith gold anomalism over about 11 kilometres of strike length.

Several of the anomalies are open at depth and in at least one direction.

READ: Riversgold focused on exploration at Kurnalpi region project near Kalgoorlie

There is also a further five kilometres of the same structure to the south of the lake which has never been drilled.

Through the centre of the project area, several holes ended in anomalous pathfinder elements such as silver, arsenic and antimony, as well as anomalous gold.

This indicates that the regolith gold anomalism is most likely related to primary gold mineralisation, rather than alluvial gold in palaeochannels within the lake.

Follow-up planned

Riversgold is planning follow-up aircore drilling following completion of a gravity survey, which will be used to assist in interpretation of the basement geology and structures under the lake.

The gravity survey is expected to begin in the next 1-2 weeks.

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Thu, 28 Feb 2019 10:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215458/riversgold-outlines-11-kilometres-of-gold-anomalism-at-queen-lapage-in-wa-215458.html
<![CDATA[News - Riversgold hits high-grade gold up to 6.72 g/t at Farr-Jones prospect in WA’s Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/214999/riversgold-hits-high-grade-gold-up-to-672-gt-at-farr-jones-prospect-in-was-eastern-goldfields-214999.html Riversgold Ltd (ASX:RGL) has received new high-grade gold results from its Farr-Jones and Eales prospects, upgrading the potential to host substantial gold mineralisation.

Resampling of 1 metre samples from the most recent air core program and analysis by fire assay has upgraded the air core intersections with previous exploration completed in the late 1980’s.

 

 

Farr-Jones “potential new gold camp”

Riversgold managing director Allan Kelly said the new assays indicated the potential for the Farr-Jones project to host economic grades of gold mineralisation over the 1.5-kilometre strike length between the Farr-Jones and Eales prospects.

“So far, we have defined high-grade primary gold mineralisation at Farr-Jones and North Farr-Jones including a fantastic intersection of 3 metres at 17.8 g/t in the first hole we drilled at Farr-Jones.

“Last December we tested a number of newly defined soil anomalies with air core drilling for the first time and now have drill intersections greater than 3 g/t in two in two air core holes 200 metres apart at Eales as well as anomalous supergene gold mineralisation in several other holes.

“The Farr-Jones project, along with the additional targets at Cutler and Ella, is shaping up as a potential new gold camp with the opportunity to define numerous gold occurrences adjacent to the Randall fault.”

READ: Riversgold’s maiden aircore drilling outlines strong gold potential at Queen Lapage

Results at the Farr-Jones and Eales prospects are as follows:

Farr-Jones

4 metres at 0.73 g/t from 49 metres including 1 metre at 1.49 g/t; and

2 metres at 1.42 g/t from 58 metres including 1 metre at 2.15 g/t.

Eales

3 metres at 1.92 g/t from 56 metres including 1 metre at 3.04 g/t from hole FJAC0012; and

4 metres at 1.11 g/t from 39 metres including 1 metre at 3.02 g/t from holes FJAC0015.

 

 

Earlier this month the company defined two large anomalies stretching over a combined strike length around 10 kilometres at the Queen Lapage gold prospect.

Queen Lapage, along with the company’s Farr-Jones and Cutler prospects forms part of the wider Kurnalpi project adjacent to the Randall fault.

Riversgold is planning follow-up drilling at both the Farr-Jones and Cutler prospects, where a high-grade drill intersection of 1 metre at 62.9 g/t at the northern end of the Cutler prospect has not yet been followed up.

Re-analysis of samples at the Little prospect are pending. 

- Jessica Cummins

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Wed, 20 Feb 2019 19:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214999/riversgold-hits-high-grade-gold-up-to-672-gt-at-farr-jones-prospect-in-was-eastern-goldfields-214999.html
<![CDATA[News - Riversgold focused on exploration at Kurnalpi region project near Kalgoorlie ]]> https://www.proactiveinvestors.com.au/companies/news/214603/riversgold-focused-on-exploration-at-kurnalpi-region-project-near-kalgoorlie-214603.html Riversgold Ltd (ASX:RGL) specialises in exploration in Australia and Alaska. It is run by Allan Kelly, a geologist and geochemist who has more than 25 years experience in minerals exploration, gold production and commodities project management. An AMEC award-winning prospector, Kelly founded Doray Minerals Limited (ASX:DRM) (FRA:DO3) (OTCMKTS:DRYYF) and led it through the discovery of the high-grade Wilber Lode gold deposit at what’s now the Andy Well gold operation in the Murchison region.

What does Riversgold own?

Riversgold’s key asset in WA is its Kurnalpi Gold Project, which includes 10 exploration licences as close as 50 kilometres east of the mining metropolis of Kalgoorlie-Boulder in the Eastern Goldfields.

The company has had a number of recent successes at the project which extend along the Randall Fault.

Principal mineralisation style at the project area is Archaean mesothermal lode gold.

This mineralisation is found worldwide in Archaean Greenstone belts of similar age to the Eastern Goldfields province, such as the Abitibi gold belt in Ontario, Canada.

The ground is typified by fault and shear-relate mineralisation that can occur in a variety of styles ranging from narrow, high-grade vein styles like Kundana near Kalgoorlie or Kirkland Lake in Abitibi, to shear hosted and disseminated like Thunderbox near Leonora to sheeted vein or stockwork mineralisation like Mt Charlotte in Kalgoorlie.

Yesterday the company outlined large new gold targets at Kurnalpi project’s Queen Lapage gold prospect after completing a maiden aircore lake drilling program at the prospect.

Initial results highlighted at least two large areas of gold anomalism over a combined strike length of about 10 kilometres.

Riversgold’s managing director Allan Kelly said the first drilling program at the area in near on 20 years had confirmed the company’s belief that Queen Lapage could host significant gold mineralisation under Lake Yindarlgooda.

The company has also reviewed historical drilling data and identified additional gold drilling targets at Kurnalpi project’s Ella prospect about 4.5 kilometres north of the 80%-owned Farr-Jones discovery.

Anomalous gold was historically intersected over a strike length of about 1,200 metres to a depth about 80 metres below surface.

Historical drilling had consisted of 58 RAB holes drilled on a 200 metre by 40-metre grid followed up by RC drilling on selected sections in seven holes.

Besides the Farr-Jones discovery, new gold mineralisation was also found at the North Farr-Jones, Eales and Little targets last year.

The Kurnalpi tenement package has a number of sub-projects - Yilgani sub-project; Kurnalpi North sub-project, which includes the Acra South, Coffee Swamp, Queen Lapage, Reef Tank, Ella/Farr-Jones and Cutler targets; Kurnalpi South sub-project, which includes the Jaws, Round Hill, Angel Fish targets; and the Alloy JV.

Other assets include the Southwest Alaska Project in the USA and The Churchill Dam Iron-Oxide Copper Gold (IOCG) Project in the Gawler Craton of South Australia.

The Alaskan project on the world-class Tintina Gold Province includes 162 mining claims and the Luna-Quicksilver, Midway and Gemuk properties in the southern Kuskokwim Mountains about 520 kilometres west-southwest of Anchorage.

The Churchill Dam project is about 20 kilometres west of the rocket range town of Woomera and 90 kilometres southwest of BHP Group Ltd’s (ASX:BHP) (LON:BHP) (NYSE: BHP) (SWX:BHP) (OTCMKTS:BHPLF) Olympic Dam Copper-Uranium Mine.

Riversgold hopes to find a large IOCG deposit in the Olympic Copper-Gold Province.

The company had $1.14 million cash at the end of the December quarter and expects to have $555,000 in cash outflows in the March quarter as it spends $350,000 on exploration and evaluation.

Inflection points

Pending results and continued drilling successes from Kurnalpi project in WA

Exploration successes from Churchill Dam near Olympic Dam in SA

Progress at the South-west Alaska Project on Tintina province in the USA

Project acquisitions or divestments and associated effect on cashflow

Managing director Allan Kelly confident of value in the portfolio

“We’re a gold-focused exploration company, we’re based in Perth in Western Australia, so we’ve got a really good package of projects about 50 kilometres east of Kalgoorlie, the gold mining centre of Australia,” Riversgold managing director Allan Kelly told Proactive Investors anchor Steve Darling at last month’s Vancouver Resource Investment Conference.

“It’s a typical West Australian Archaean gold story — we’ve got a nice land package on a big major regional structure called a Randall Fault, we're very close to some existing operating gold mines and processing plants and we’ve got two main projects that we’re working on at the moment — Farr-Jones (and) Queen Lapage.”

 

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Fri, 15 Feb 2019 08:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214603/riversgold-focused-on-exploration-at-kurnalpi-region-project-near-kalgoorlie-214603.html
<![CDATA[Media files - Riversgold MD talks significance of Queen Lapage results for wider Kurnalpi Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12227/riversgold-md-talks-significance-of-queen-lapage-results-for-wider-kurnalpi-project-12227.html Thu, 14 Feb 2019 15:08:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12227/riversgold-md-talks-significance-of-queen-lapage-results-for-wider-kurnalpi-project-12227.html <![CDATA[News - Riversgold’s maiden aircore drilling outlines strong gold potential at Queen Lapage ]]> https://www.proactiveinvestors.com.au/companies/news/214587/riversgolds-maiden-aircore-drilling-outlines-strong-gold-potential-at-queen-lapage-214587.html Riversgold Ltd (ASX:RGL) has outlined large new gold targets after completing a maiden aircore lake drilling program at Queen Lapage gold prospect in the Eastern Goldfields of Western Australia.

Initial results from the recently completed program have highlighted at least two large areas of gold anomalism.

So far, these anomalies stretch over a combined strike length of about 10 kilometres.

READ: Riversgold Ltd starts drilling at large Queen Lapage gold target in WA

Riversgold’s managing director Allan Kelly said results received so far confirmed the company’s belief that the Queen Lapage project could host significant gold mineralisation under Lake Yindarlgooda.

“This drilling program is the first gold exploration in this area for almost 20 years,” he said.

Kelly said: “The results to date confirm both the highly prospective geology and the clear potential for the project to host multiple large gold deposits under the lake, with each of the main gold anomalies stretching for over 2 kilometres of strike.”

Queen Lapage, along with the company’s Farr-Jones and Cutler prospects, forms part of the wider Kurnalpi projects, which sit adjacent to the Randall Fault.

Riversgold has received results from about 50% of the 156-hole program on an 800m x 200m spaced grid with holes drilled on the surface of the lake using a specialised lake drilling rig.

Encouraging results have been returned from a number of holes, including:

– 13 metres at 599ppb gold from 4 metres to the end of hole, including 4 metres at 1,499ppb; – 4 metres at 931ppb from 32 metres; – 3 metres at 132ppb from 24 metres to end of hole; and – 4 metres at 123ppb from 60 metres. READ: Riversgold scores new drill targets at Ella prospect in WA’s Eastern Goldfields

Several of the planned holes on islands within the lake were not drilled due to drill rig access issues.

Hole depths varied from 2 metres to 105 metres, which was the limit of the drill rig.

When combined with results from historical drilling on islands within the lake, there are at least two large NW-SE trending gold anomalies defined.

Each of these is more than 2 kilometres in strike length defined by maximum gold in hole in excess of 50ppb.

Combined strike length of around 10 kilometres

The combined strike length of these two anomalies is approximately 10 kilometres.

Queen Lapage prospect showing historical and recent results.

A number of holes ended in lower order gold anomalism which the company said was potentially significant given the broad spacing of the first-pass program.

Remaining assays are expected within the next fortnight.

Infill program planned

Infill drilling is required to determine the full extent of the gold mineralisation present within this large target.

As such, Riversgold is planning infill aircore drilling to refine targets for future reverse circulation drill testing.

The company listed on the ASX in October 2017 and has a portfolio of exploration projects within the Eastern Goldfields of WA, the Tintina Gold Belt in southwest Alaska and the Gawler Craton of South Australia.

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Thu, 14 Feb 2019 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214587/riversgolds-maiden-aircore-drilling-outlines-strong-gold-potential-at-queen-lapage-214587.html
<![CDATA[News - Riversgold scores new drill targets at Ella prospect in WA's Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/214317/riversgold-scores-new-drill-targets-at-ella-prospect-in-wa-s-eastern-goldfields-214317.html Riversgold Ltd (ASX:RGL) has reviewed historical drilling data and identified additional gold drilling targets at its Ella prospect around 4.5 kilometres north of the Farr-Jones discovery in WA.

Anomalous gold was intersected over a strike length of around 1,200 metres and down to a depth of around 80 metres below surface.

The historical drilling consisted of 58 RAB holes drilled on a 200 metre by 40-metre grid followed up by RC drilling on selected sections totalling seven holes.

Potential for “additional high-grade gold deposits”

Riversgold managing director Allan Kelly said the historical results had gained more prominence since the discovery of new gold mineralisation at North Farr-Jones, Eales and Little targets in 2018.

“These historical drilling results are similar to what we have been seeing in our recent aircore drilling and have never been followed up with any systematic deeper drilling.

“Given the discovery of high-grade gold mineralisation in RC drilling at Farr-Jones, the potential for additional high-grade gold deposits along this emerging 7-kilometre-long trend is significant.”

 

 

 

All holes were drilled towards the west with drilling intersecting easterly dipping tuffaceous sediments, siltstone and shale with vein quartz present in all holes and disseminated pyrite pseudomorphs more coming in areas of anomalous gold.

The Ella prospect is immediately south of the Transline access road and around 2.5 kilometres north of the Little prospect where Riversgold intersected 12 metres at 1.9 g/t gold, including 8 metres at 2.8 g/t, in the first drilling of this target.

 

 

Further drilling planned

Ella is hosted in clastic sediments to the east of the Randall fault and was previously drilled in 1990-92 by Mt Martin Gold Mines as part of a wider campaign testing soil anomalies over what was then known as the Gundockerta project.

The company is planning further drilling along the Farr-Jones corridor following the completion of the lake drilling campaign at Queen Lapage and has submitted a program of work (POW) application for drilling at Ella.

A recently completed soil survey will also be extended to the north, south and east. 

- Jessica Cummins 

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Sun, 10 Feb 2019 21:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214317/riversgold-scores-new-drill-targets-at-ella-prospect-in-wa-s-eastern-goldfields-214317.html
<![CDATA[Media files - Riversgold expecting busy 2019 with drilling planned on projects in Australia ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11949/riversgold-expecting-busy-2019-with-drilling-planned-on-projects-in-australia-11949.html Tue, 22 Jan 2019 11:51:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11949/riversgold-expecting-busy-2019-with-drilling-planned-on-projects-in-australia-11949.html <![CDATA[News - Riversgold Ltd starts drilling at large Queen Lapage gold target in WA ]]> https://www.proactiveinvestors.com.au/companies/news/212926/riversgold-ltd-starts-drilling-at-large-queen-lapage-gold-target-in-wa-212926.html Riversgold Ltd (ASX:RGL) has begun drilling the Queen Lapage prospect in WA’s Eastern Goldfields, one of the company’s main exploration targets in 2017.

The initial aircore drilling program will comprise around 200 holes on an 800 metre by 200-metre grid and is expected to take three weeks to complete.

Hallmarks of “highly prospective gold target”

Riversgold managing director Allan Kelly said: “We believe Queen Lapage has all the hallmarks of a highly prospective gold target and the scale to potentially host multiple gold deposits along the Randall Shear Zone.”

Historical drilling, anomalous gold

Historical shallow drilling has also intersected anomalous gold at several locations within an interpreted shear zone to the west of Randall Fault, although the drilling was sporadic and limited to islands within the lake.

Local geology is characterised by a north-northwest trending package of mafic/ultramafic rocks and clastic sediments separated by a faulted contact, like that seen in the company’s Farr-Jones prospect.

READ: Riversgold discovers two new prospects and receives strong gold results at Farr-Jones

Last week the company discovered two new prospects at Farr-Jones, which returned strong gold results confirming the potential for multiple gold deposits to be delineated.

Highlights included:

12 metres at 1,904ppb gold from 36 metres, including 8 metres at 2,818ppb from Little;

4 metres at 1,026ppb from 56 metres from Eales;

12 metres at 1,174ppb from 84 metres, including 8 metres at 1,732ppb from North Farr-Jones

- Jessica Cummins

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Mon, 21 Jan 2019 00:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212926/riversgold-ltd-starts-drilling-at-large-queen-lapage-gold-target-in-wa-212926.html
<![CDATA[News - Riversgold discovers two new prospects and receives strong gold results at Farr-Jones ]]> https://www.proactiveinvestors.com.au/companies/news/212657/riversgold-discovers-two-new-prospects-and-receives-strong-gold-results-at-farr-jones-212657.html Riversgold Ltd (ASX: RGL) has returned noteworthy gold results from the Farr-Jones project in WA, including from the first holes drilled at the new Eales and Little discoveries.

The results confirm the potential for multiple gold deposits to be delineated within the wider Farr-Jones project.

Highlights include:

12 metres at 1,904ppb gold from 36 metres, including 8 metres at 2,818ppb from Little;

4 metres at 1,026ppb from 56 metres from Eales; and

12 metres at 1,174ppb from 84 metres, including 8 metres at 1,732ppb gold from North Farr-Jones.

“Just scratched the surface”

Riversgold managing director Allan Kelly said: “We were previously looking at the potential for a single gold deposit at Farr-Jones.”

However, “we have now discovered oxide and primary gold mineralisation over 2.5 kilometres of strike beneath soil anomalies at Farr Jones, Eales and Little with a number of other soil anomalies to test.

“We have just scratched the surface at this exciting new gold project and are looking forward to systematically testing it with further soil sampling and drilling.”

READ: Rivergold’s drilling at Farr-Jones prospect delivering more high-grade gold

Two phases of RC drilling conducted in 2018 intersected high-grade gold at the Farr-Jones target, including 3 metres at 17.8 g/t gold.

The mineralisation has an early dip and is hosted in black shale to the east of Randall Fault, a major structure and faulted contact with mafic rocks to the west.

Further drilling and soil sampling

The company will begin follow-up drilling at Farr-Jones following completion of the first aircore drilling campaign at Queen Lapage to the north, which is expected to start next week.

The company also plans to extend the current soil sampling grid to cover a number of additional historic gold-in-soil anomalies further north, south and east.

Plan to expand tenement area

Riversgold hopes to expand the land position around Farr-Jones and has applied for two new exploration licences and three new prospecting licences which have recently become vacant.

- Jessica Cummins

 

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Wed, 16 Jan 2019 01:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212657/riversgold-discovers-two-new-prospects-and-receives-strong-gold-results-at-farr-jones-212657.html
<![CDATA[News - Riversgold returns high-grade gold in rock chips from Alaskan prospect, defines new soil anomaly ]]> https://www.proactiveinvestors.com.au/companies/news/205845/riversgold-returns-high-grade-gold-in-rock-chips-from-alaskan-prospect-defines-new-soil-anomaly-205845.html Riversgold Ltd (ASX:RGL) has returned multiple high-grade gold rock chip assays from outcropping sulphide veins at the Quicksilver target within its Alaskan exploration holdings.

The company also outlined a new 600 metre gold-silver-arsenic-antimony soil anomaly around 1.5 kilometres northeast of the main Quicksilver target.

Exploration work is focused on defining a large intrusion-related gold (IRG) deposit and Riversgold has completed its first Alaskan field season which included geochemical and geophysical surveys along with limited diamond drilling at Luna and Quicksilver.

READ: Riversgold finds rock chips up to 90 g/t at Gemuk project in Alaska

Sampling of the massive arsenopyrite veins returned multiple high-grade gold results in the range of 5.85 g/t gold to 10.4 g/t over 150 metres of strike.

A parallel vein was sampled around 35 metres to the east and returned a result of 7.86 g/t and a newly identified outcropping vein 300 metres to the east returned a result of 8.99 g/t.

Historical sampling of an outcropping sulphide vein 140 metres down-slope to the southeast returned similar tenor gold results averaging 8.7 g/t from two samples.  

READ: Riversgolds’ drilling at Farr-Jones prospect delivering more high-grade gold

Riversgold managing director Allan Kelly said the results confirmed Quicksilver’s potential to host a large, high-grade gold deposit.

“We have now proved the existence of multiple sulphide veins at the main Quicksilver target with remarkably consistent high-grade gold results over a wide area.

“[One hole], which was designed to test below these outcropping sulphide veins, intersected six zones of arsenopyrite mineralisation down to around 100 metres below surface, including several veins which do not outcrop at surface.

“The Quicksilver target now requires systematic surface geochemical sampling and geophysical surveys, with follow-up diamond drilling to determine the full extent of [the] high-grade gold mineralisation.”

READ: Riversgold defines gold structure at Cutler prospect with further high-grade results

Results from ridge and spur soil sampling conducted over the wider Quicksilver block, derived from a total of 369 soil samples, show a 600-metre-long soil geochemical anomaly outlined by gold values greater than 45 ppb and arsenic values greater than 200 ppm.

Peak gold value from the samples was 1,335 ppb, or 1.33 g/t.

Along with strongly anomalous gold and arsenic values, elevated results are also seen for silver and antimony which are typical pathfinders for IRG mineralisation.

Kelly said the new soil results further increased the size potential of the Quicksilver gold target, alongside the company’s other projects in Alaska.

“There has been minimal rock chip sampling in this area to date, so the new soil results have given us an additional target to focus on during the next field season.

“Total strike length of mineralised rock chips and/or strongly anomalous soils at Quicksilver is now well over 20 kilometres with only a single diamond hole testing the entire prospect to date.”

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Thu, 27 Sep 2018 04:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205845/riversgold-returns-high-grade-gold-in-rock-chips-from-alaskan-prospect-defines-new-soil-anomaly-205845.html
<![CDATA[News - Riversgold finds rock chips up to 90 g/t gold at Gemuk project in Alaska ]]> https://www.proactiveinvestors.com.au/companies/news/205722/riversgold-finds-rock-chips-up-to-90-gt-gold-at-gemuk-project-in-alaska-205722.html Riversgold Ltd (ASX:RGL) has found high-grade gold in rock chip samples grading up to 90 g/t gold at its Gemuk Mountain Project in Alaska, 15 kilometres northeast of its Luna-Quicksilver (LQ) prospect.

The company has also outlined a potential second highly-anomalous target zone with soil results up to 1.27 g/t.

Gemuk is at the north-eastern end of the North Fork fault, a regional structure which hosts outcropping high-grade gold mineralisation at the LQ prospect.

READ: Riversgold’s drilling at Farr-Jones prospect delivering more high-grade gold

Riversgold managing director Allan Kelly said the results at Gemuk confirmed the importance of the North Fork fault and the Pluton fault as a focus for high-grade gold mineralisation.

“We now have at tenure over four high-grade gold occurrences within the North Fork fault over at least 32 kilometres of strike.

“Anyone of these prospects has the potential to develop into a large intrusion-related gold deposit and we look forward to continuing to outline the opportunities in the next field season.”

READ: Riversgold defines gold structure at Cutler prospect with further high-grade results

The company staked several state-owned mining claims over Gemuk in early 2018 following up a number of historical high-grade rock chip results grading up to 100 g/t gold.

These results were from within the Pluton fault, a structure parallel to the North Fork fault.

Recently completed rock chip, ridge and spur soil sampling over Gemuk has extended the area of mineralisation along the Pluton fault to around 2 kilometres while soil sampling has outlined a potential second zone of mineralisation south of Pluton.

Further sampling, along with detailed helimagnetic surveys, is planned for the 2019 field season.

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Wed, 26 Sep 2018 02:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205722/riversgold-finds-rock-chips-up-to-90-gt-gold-at-gemuk-project-in-alaska-205722.html
<![CDATA[News - Riversgold’s drilling at Farr-Jones prospect delivering more high-grade gold ]]> https://www.proactiveinvestors.com.au/companies/news/202704/riversgolds-drilling-at-farr-jones-prospect-delivering-more-high-grade-gold-202704.html Riversgold Ltd (ASX:RGL) has completed its first 9-hole reverse circulation (RC) drill program at its Farr-Jones prospect in Western Australia’s Eastern Goldfields.

Recently interpreted results indicate the presence of high-grade gold in at least two zones.

Farr-Jones is around 15 kilometres northeast of the Randalls processing plant, owned by Silver Lake Resources Ltd (ASX:SLR), and is one of several targets identified from historical surface geochemical surveys conducted in the late 1980s.

READ: Riversgold defines gold structure at Cutler prospect with further high-grade results

Highlighted assays include: 3 metres at 17.8 g/t gold from 182 metres, including 1 metre at 48.5 g/t from 183 metres; 3 metres at 2.36 g/t from 191 metres, including 1 metre at 4.97 g/t from 192 metres; and 4 metres at 6.26 g/t from 119 metres, including 2 metres at 11.94 g/t from 120 metres.

Riversgold managing director Allan Kelly said previous soil sampling in the area was completed in 1989-90 and the samples were only analysed for gold.

Kelly said: “We believe a new geochemical survey, with modern analytical techniques and lower detection limits for gold and pathfinder elements, could be very effective in targeting further drilling at the Farr-Jones and Horan targets.

“[It could also be effective in] highlighting potential additional drill targets within the project area.”

READ: Riversgold intersects high-grade gold mineralisation at Farr-Jones

The mineralisation at Farr-Jones remains open at depth and to the south.

A follow-up drilling program has been planned to outline the potential extent of gold mineralisation, with drilling to begin after the completion of current Alaskan field programs.

Riversgold has received approval for drilling at the nearby Horan target, around 1.5 kilometres north of Farr-Kones, where a similar sized soil anomaly has never been drill tested.

Given the association of gold mineralisation with extensive amounts of sulphides, the company is considering the use of electrical geophysics as an additional targeting tool at both prospects.

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Sun, 12 Aug 2018 21:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202704/riversgolds-drilling-at-farr-jones-prospect-delivering-more-high-grade-gold-202704.html
<![CDATA[News - Riversgold defines gold structure at Cutler prospect with further high-grade results ]]> https://www.proactiveinvestors.com.au/companies/news/201501/riversgold-defines-gold-structure-at-cutler-prospect-with-further-high-grade-results-201501.html Riversgold Ltd (ASX:RGL) has received further high-grade gold assays from a follow-up reverse circulation (RC) drill program at the Cutler prospect in Western Australia.

One hole towards the northern end of the prospect returned 1 metre at 62.9 g/t from 129 metres, with the drill bit intersecting the Cutler structure and returning an expected high-grade result.

Grades recorded so far have strengthened the concept of northerly plunging gold mineralisation and confirmed the presence of a mineralised structure over at least 500 metres of strike.

 

Riversgold managing director Alan Kelly said the 62.9 g/t intersection was from one of the deeper holes drilled at Cutler to date and had significant implications for the potential size of the target.

He said regarding a previously drilled hole: “It looks like [the hole] did not effectively test the Cutler structure, which means the gold mineralisation remains open down-plunge to the north, potentially for a significant distance.”

READ: Riversgold intersects high-grade gold mineralisation at Farr-Jones

Other highlights from the program include: 1 metre at 4.63 g/t; 3 metres at 1.29 g/t; and 10 metres at 0.85 g/t, including 3 metres at 1.44 g/t.

These results were intersected in a 30-metre wide zone of gold anomalism from 117-148 metres.

The hole that returned the high-grade intercept of 62.9 g/t also hit further mineralisation deeper down, intersecting 3 metres at 2.19 g/t from 145 metres.

A third hole encountered shallow high-grade oxide mineralisation with an assay of 4 metres at 5.31 g/t.

This hole also intersected the Cutler structure, returning further assays of: 5 metres at 0.88 g/t from 107 metres, including 2 metres at 1.53 g/t from 110 metres.

READ: Riversgold mobilises for first drilling at Luna-Quicksilver project in Alaska

Riversgold has recently received a program of work approval for further follow-up drilling at Cutler, which will start following completion of its Alaskan drilling campaign.

The Cutler prospect is near the Randalls processing plant owned by Silver Lake Resources Ltd (ASX:SLR), in the Eastern Goldfields region of Western Australia.

It is one of several targets identified from historical surface geochemical surveys completed during the late 1980s to early 1990s.

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Wed, 25 Jul 2018 00:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201501/riversgold-defines-gold-structure-at-cutler-prospect-with-further-high-grade-results-201501.html
<![CDATA[News - Riversgold Ltd mobilises for first drilling at Luna/Quicksilver project in Alaska ]]> https://www.proactiveinvestors.com.au/companies/news/201197/riversgold-ltd-mobilises-for-first-drilling-at-lunaquicksilver-project-in-alaska-201197.html Riversgold Ltd (ASX:RGL) is on track to diamond-drill its Luna/Quicksilver gold and polymetallic project in Alaska later this month after competing an IP survey over the Luna and Luna East targets.

The explorer has also collected a number geochemical samples from the surface of Luna/Quicksilver and at Gemuk, another of its three projects in the Tintina Gold Province.

READ: Riversgold intersects high-grade gold mineralisation at Farr-Jones

Riversgold will mobilise a helicopter-portable diamond drill at Luna/Quicksilver in late July and August to drill-test various targets at the site for the first time.

The company said its three Tintina province projects had only been “sporadically explored” and only the Kisa project had been drilled.

READ: Riversgold accelerates drilling in West Australia ahead of Alaskan field season

Riversgold has received high-grade results from rock chips, including 64.7 g/t gold at Luna target; 1.2% copper and 90 g/t gold at Luna East; 1.237 g/t at Quicksilver; 100 g/t at Gemuk Mountain; and 8 g/t at Kisa.

The company debuted on the Australian Securities Exchange in October and also has a number of gold exploration projects in the Eastern Goldfields of Western Australia and the Gawler Craton of South Australia.

Riversgold has applications pending for tenements in Cambodia, near the 1 million-ounce Okvau gold deposit.

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Thu, 19 Jul 2018 23:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201197/riversgold-ltd-mobilises-for-first-drilling-at-lunaquicksilver-project-in-alaska-201197.html
<![CDATA[News - Riversgold intersects high-grade gold mineralisation at Farr-Jones ]]> https://www.proactiveinvestors.com.au/companies/news/199919/riversgold-intersects-high-grade-gold-mineralisation-at-farr-jones-199919.html Riversgold Ltd (ASX:RGL) has hit intercepts up to 3 metres at 17.8 g/t gold, including 1 metre at 48.5 g/t, at its Farr-Jones target in Western Australia’s Eastern Goldfields.

This was the first drilling campaign at the prospect since 1991-92 and comprised seven reverse circulation holes.

The previous drilling tested an 800-metre-long gold-in-soil anomaly and intersected gold mineralisation over 130 metres down-dip in a quartz vein hosted in black shale.

Gold grades increasing with depth

Results have been received for a small number of samples selected from the first three holes, based on visual observations of significant sulphide mineralisation.

The samples intersected sulphide mineralisation with gold grades apparently increasing with depth.

At least one of the other four holes intersected similar sulphide mineralisation and results for these holes are pending.

Riversgold’s managing director Allan Kelly said the drilling had surpassed expectations and shares reflected the results, rising almost 32% to 14.5 cents.

“The gold grade is apparently increasing with depth on both sections and we can also show potential for a significant strike length when considering the size of the original soil anomaly, which remains mostly untested,” he said.

New drill target identified

Analysis of historical exploration data has highlighted a second high-priority drill target at the newly named Horan prospect, around 1.5 kilometres north of Farr-Jones.

Historical soil sampling outlined a 900-metre-long north-northwest trending gold-in-soil anomaly at Horan, similar in size, magnitude and orientation to Farr-Jones.

The Horan target has never been drill tested.

Given the recent results, Horan has been identified as a key target as soon as permitting has been completed.

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Mon, 02 Jul 2018 16:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199919/riversgold-intersects-high-grade-gold-mineralisation-at-farr-jones-199919.html
<![CDATA[Media files - Riversgold accelerates drilling in West Australia ahead of Alaskan field season ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9223/riversgold-accelerates-drilling-in-west-australia-ahead-of-alaskan-field-season-9223.html Tue, 08 May 2018 18:38:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9223/riversgold-accelerates-drilling-in-west-australia-ahead-of-alaskan-field-season-9223.html