Riversgold (ASX: RGL) Kicks Off Drilling at Northern Zone, Partners with MEGA Resources
Riversgold Ltd (ASX: RGL) has entered into a partnership with MEGA Resources, marking a significant step towards accelerating development at the Northern Zone property. This collaboration paves the way for production and comes amidst a favourable gold market backdrop, with prices reaching record highs above USD $2,400 per ounce.
The Northern Zone Intrusive Hosted Gold Project, situated just 25km east of Kalgoorlie, holds immense promise due to its strategic location. This proximity offers reduced development costs, access to experienced personnel, potential toll treatment options, and streamlined operational support. Riversgold has secured a grade control drill rig from Australian Surface Drilling (ASD) to expand the gold footprint at this prime project. The upcoming drill program, scheduled to commence within the next three weeks, will focus on exploring the shallow gold mineralisation between previously identified western and eastern zones. This targeted approach aims to establish continuity, potentially expand the overall resource envelope, focus on shallow mineralisation, and refine the geological model to guide future exploration. Grade control drilling, a key aspect of this program, provides detailed information about ore distribution and quality within the deposit, enabling precise mapping of gold mineralisation boundaries, optimisation of extraction planning, reduction of dilution, and informed decisions about processing requirements.
Riversgold's strategic partnership with MEGA Resources and the commencement of the grade control drilling program at the Northern Zone project signal accelerated development and a pathway to production. With gold prices performing strongly, the company is well-positioned to capitalise on this favourable market backdrop. The upcoming drill program represents a significant near-term catalyst for investors tracking junior gold developers, as it could catalyse shareholder value for Riversgold (ASX: RGL).
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