logo-loader
viewRiversgold Ltd

Riversgold locks in rights issue to fund exploration

The rights issue opens on 29 October 2019 and closes at 5.00pm (WST) on 7 November 2019 unless extended.

Riversgold Ltd - Riversgold locks in rights issue to fund exploration
The company is focused on its gold exploration assets in Western Australia and Alaska

Riversgold Ltd (ASX:RGL) has lodged its offer documentation with the ASX for a 1-for-1 rights issue priced at 1-cent to raise up to $1.51 million.

Funds raised under the offer will be used to further explore the company’s existing projects in Western Australia and Alaska and to seek complementary opportunities.

The closing date of the offer, which is subject to extension, stands at 7 November 2019.

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.

The South West Alaska Project comprises the Luna-Quicksilver, Midway and Gemuk properties where Riversgols is targeting large scale intrusive-related gold deposits.

Quick facts: Riversgold Ltd

Price: 0.01 AUD

ASX:RGL
Market: ASX
Market Cap: $1.51 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Riversgold Ltd named herein, including the promotion by the Company of Riversgold Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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