Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) advanced its Northern Zone Gold Project near Kalgoorlie toward development during the June 2026 quarter, securing key tenure, progressing mine permitting studies and continuing to expand the shallow gold footprint through drilling.
The company’s most significant milestone was the grant of mining lease M25/389 for an initial 21-year term shortly after quarter-end, strengthening the development pathway for the project, 25 kilometres east-southeast of the Kalgoorlie Super Pit.
Riversgold also increased the broader Kalgoorlie Gold Project area by 20% through the acquisition of granted tenement P25/2850, taking the total footprint to 10.2 square kilometres.
Northern Zone development studies progress
Work continued on the Mine Development and Closure Plan (MDCP), which was around 60% complete and remained on schedule for submission to the Department of Mines, Petroleum and Exploration.
Supporting studies returned encouraging outcomes, with geotechnical work concluding that proposed waste dump and pit designs demonstrated high factors of safety.
Hydrogeological investigations identified an average water table depth of about 37 metres and low site permeability, indicating groundwater inflows were unlikely to pose a material operational or geotechnical risk.
Soil and waste characterisation also found that rock material was predominantly non-acid forming and had substantial acid-neutralising capacity, suggesting minimal risk of acid mine drainage.
The company was finalising fauna, flora and vegetation reports ahead of planned site clearance and Native Vegetation Clearing Permit applications.
Drilling expands shallow gold footprint
Ongoing drilling at Northern Zone continued to test and validate the broader mineralisation model, including the area between the central saddle and eastern mineralised zone.
Recent results included individual one-metre assays of up to 71 g/t gold, reinforcing the potential for shallow mineralisation within the tonalite-trondhjemite intrusion hosting the project.
Under Riversgold’s agreement with MEGA Resources, MEGA will fund 100% of Northern Zone’s development and mining costs, including haulage, road maintenance and processing. Any resulting profit will be split equally between MEGA and the project owners.
Canadian sampling delivers strong multi-element results
At the Saint John copper-gold-silver-antimony project in New Brunswick, earn-in partner A.I.S. Resources continued geological mapping, prospecting and rock-chip sampling ahead of drilling.
Preliminary results included six samples above 1% copper, two Lepreau samples above 5 g/t gold, four samples above 100 g/t silver and six samples exceeding 500 ppm antimony.
The combined geological, sampling and geophysical datasets will be used to define an upcoming drilling program, with a local drilling contractor already secured.
Next steps
Riversgold will focus on completing and submitting the Northern Zone MDCP and clearing permit applications while advancing the project toward mining.
Further drilling is required to define the limits of the gold mineralisation, while ongoing sampling at Saint John will support final drill-target selection.
The company ended the quarter with A$1.21 million in cash after spending approximately A$641,000 on exploration and evaluation activities.
