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

The first round of aircore drilling was completed at the company’s 80% Farr-Jones project.

Farr-Jones is about 70 kilometres east of Kalgoorlie in the Eastern Goldfields of WA

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


Quick facts: Riversgold Ltd

Price: 0.056 AUD

Market: ASX
Market Cap: $17.52 m

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Riversgold MD draws comparisons between Queen Lapage and the Invincible deposit

Riversgold Ltd (ASX: RGL) managing director Allan Kelly talks Proactive Investors through the detail and significance of results from explorer's maiden aircore drilling program at the Queen Lapage target, which forms part of the large-scale Kurnalpi gold project in the Eastern Goldfields of...

on 28/2/19

2 min read