Riversgold Ltd

Riversgold returns high-grade gold in rock chips from Alaskan prospect, defines new soil anomaly

The company has defined 20 kilometres of strike at its Quicksilver prospect and only drilled a single hole.

Riversgold's Alaskan projects and targets

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.”

Quick facts: Riversgold Ltd

Price: $0.02

Market: ASX
Market Cap: $1.9 m

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