Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has significantly expanded its landholding at the Kalgoorlie Gold Project, increasing its tenement footprint by more than 800% as it advances plans for the Northern Zone intrusive-hosted gold deposit.
The company’s tenure in the Kalgoorlie East area — about 25 kilometres east of Kalgoorlie in Western Australia — has grown to 6.75 square kilometres from the original 0.8km² Northern Zone tenement, securing additional contiguous ground to the north and east of the existing project area. The expanded area is intended to accommodate the long-term infrastructure requirements of what Riversgold believes could evolve into a substantial porphyry-hosted gold operation.
Securing room for scale
Technical director Ed Mead said one of the early criticisms of Northern Zone had been the limited size of its original tenement package, particularly in the context of hosting a large porphyry intrusion and associated infrastructure.
“With this in mind, Riversgold has been proactive in expanding the tenement footprint,” Mead said.
“We are very pleased to announce that we have now secured tenements (approved and first-in-line under application) covering some 6.75km², representing over an 800% increase in the original footprint and more than enough acreage for our current needs.”
The additional ground provides space for potential open pit development, waste dumps, offices and processing infrastructure, while also offering scope to incorporate further mineralisation into a consolidated mining lease as ongoing drilling continues to define the scale of the system.
The newly secured tenements include granted P25/2540, acquired from Goldblade Corporation Pty Ltd, along with applications for P25/2848, P25/2888, P25/2890, P25/2891 and P25/2892.
Kalgoorlie East Tenement Location Map
Mining lease and funding pathway advancing
Conversion of the Northern Zone tenement to a mining lease is well advanced and expected in the coming weeks, following the recent clearance of objections to the application — a key milestone that removed a hurdle for formal development planning.
Riversgold’s expanded footprint adds to recent momentum at Kalgoorlie, where the company has ramped up drilling with 31 new holes completed in follow-up programmes, seeking to expand known mineralisation and test priority structural targets around the Northern Zone intrusion.
The company has also secured a Right to Mine and Co-Operation Agreement with MEGA Resources, under which MEGA will fund all development and mining costs at Northern Zone on a 50/50 profit share basis. The agreement reduces upfront capital requirements for Riversgold while preserving exposure to project upside.
The enlarged land position, coupled with progressing lease approvals, drilling progress and third-party funding support, strengthens Riversgold’s pathway towards development at Northern Zone as it continues to build scale and de-risk the project’s long-term potential.
Northern Zone Project Map showing proximity to the Kalgoorlie "Super Pit".