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Riversgold gains new substantial shareholder

The company has gold exploration assets in Western Australia and Alaska.

Riversgold Ltd - Riversgold gains new substantial shareholder
Riversgold is in the process of raising capital and changing the board

Riversgold Ltd (ASX:RGL) has a new substantial shareholder in the combined entities of Eaglehawk Investments Pty Ltd and Citymist Holdings Pty Ltd.

The two entities together hold 19.45 million shares for a 17.61% voting power.

Exploration expected to continue at Kurnalpi

The company’s exploration activities over the past 12-18 months have been primarily focused on its gold projects in the Eastern Goldfields of Western Australia the Tintina Gold Province in southwest Alaska, US.

In Western Australia, drilling campaigns were completed during the year at the Farr-Jones, Queen Lapage and Cutler prospects within the Kurnalpi Project.

At the Cutler prospect, drilling returned several encouraging narrow, high-grade gold intersections.

Drilling beneath the lake sediments at the Queen Lapage prospect has delineated a large scale gold anomaly within a package of highly prospective host rocks, indicating the potential presence of a large scale gold mineralised system.

Riversgold expects to maintain exploration programs at the Kurnalpi Project.

Quick facts: Riversgold Ltd

Price: 0.011 AUD

ASX:RGL
Market: ASX
Market Cap: $1.66 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