Riversgold Ltd

Riversgold Ltd starts drilling at large Queen Lapage gold target in WA

Queen Lapage contains around 17 kilometres of the Randall Fault, which hosts a number of gold occurrences

Multiple large gold targets have been identified under Lake Yindarlgooda

Riversgold Ltd (ASX:RGL) has begun drilling the Queen Lapage prospect in WA’s Eastern Goldfields, one of the company’s main exploration targets in 2017.

The initial aircore drilling program will comprise around 200 holes on an 800 metre by 200-metre grid and is expected to take three weeks to complete.

Hallmarks of “highly prospective gold target”

Riversgold managing director Allan Kelly said: “We believe Queen Lapage has all the hallmarks of a highly prospective gold target and the scale to potentially host multiple gold deposits along the Randall Shear Zone.”

Historical drilling, anomalous gold

Historical shallow drilling has also intersected anomalous gold at several locations within an interpreted shear zone to the west of Randall Fault, although the drilling was sporadic and limited to islands within the lake.

Local geology is characterised by a north-northwest trending package of mafic/ultramafic rocks and clastic sediments separated by a faulted contact, like that seen in the company’s Farr-Jones prospect.

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

Last week the company discovered two new prospects at Farr-Jones, which returned strong gold results confirming the potential for multiple gold deposits to be delineated.

Highlights included:

  • 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;

  • 12 metres at 1,174ppb from 84 metres, including 8 metres at 1,732ppb from North Farr-Jones

- Jessica Cummins

Quick facts: Riversgold Ltd

Price: $0.02

Market: ASX
Market Cap: $1.71 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