Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has started geotechnical diamond drilling at its Northern Zone Gold Project, 25 kilometres east of Kalgoorlie in Western Australia, as it advances the project toward a Mine Development and Closure Plan (MDCP).
The short nine-day program is designed to collect the rock strength and structural data needed for open pit design, pit slope stability work and ongoing mine planning studies.
Northern Zone is a porphyry-hosted gold project within the company’s broader Kalgoorlie Gold Project. The current drilling is an important step in preparing the technical foundation for development, with the project’s tenement conversion to a Mining Lease well advanced and expected in coming weeks.
Riversgold chairman David Lenigas said the program would acquire whole rock core from fresh rock zones across the porphyry intrusion, providing critical structural and rock strength data for pit slope stability and final pit design work.
“This small but important diamond drilling program will acquire whole rock core in the fresh rock zones across the porphyry intrusion, the analysis of which will provide critical structural and rock strength data for pit slope stability in final pit design work for the MDCP. The imminent Mining Lease grant and MDCP maturation will provide long-term security of tenure for the Northern Zone Gold Project for the ultimate benefit of our shareholders and our partners in the development of Northern Zone, Oracle Power and MEGA Resources," Lenigas said.
Northern Zone Project Map showing proximity to the Kalgoorlie "Super Pit", Golden Mile/Fimiston.
Drilling to refine pit design and support funded development pathway
The program will comprise four diamond drill holes to depths of about 100-150 metres below surface. Hole locations have been selected using an indicative pit layout supplied by MEGA Resources and the project’s lithological setting.
Core from the drilling will be photographed, structurally logged and sampled by Xirlatem in Kalgoorlie, with selected whole-core samples to be sent to Perth for laboratory testing.
Testing will include Unconfined Compressive Strength and Direct Shear analysis. Results will be used to formulate pit slope design, with the aim of supporting a stable and optimised open pit as Riversgold moves toward finalising the MDCP.
The work also sits alongside Riversgold’s funding pathway for Northern Zone. The company has signed a Right to Mine and Co-Operation Agreement with MEGA Resources, under which MEGA will provide all development and mining funding for the project in return for a 50/50 profit share.