South-west Alaska Project

Alaska

The South-west Alaska Project, comprised of the Luna-Quicksilver and Kisa properties, is located in the southern Kuskokwim Mountains of south-western Alaska approximately 520 km west-south-west of Anchorage. The Project comprises a total of 171 State of Alaska MTRSC mining claims covering a total of approximately 10,976 ha (109.77 km²).

The Project area lies at the south-west end of the Tintina Gold Province, an arcuate, 200-km wide, 1,200-km long metallogenic province bounded by the Tintina-Kaltag fault systems on the north and the Denali-Fairwell fault systems on the south and extending from northern British Columbia into south-western Alaska. The province includes such large gold deposits as Pogo, Fort Knox, True North, Donlin Creek, and Shotgun and remains a prime area for gold exploration. The Project Properties are situated in the Kuskokwim Mineral Belt. The region has been an important placer gold and lode mercury producer in southwestern Alaska.

The target deposit model for the Project area is intrusion-related gold (IRG) mineralisation with the largest example being the giant the Donlin Gold deposit. These deposits are characterised by Cretaceous and Tertiary granitoid intrusions into Cretaceous marine sediments of the Kuskokwim Group.

The Luna-Quicksilver Project is characterised by a 20km splay fault (the North Fork Fault) off the Denali-Farewll Fault, which is one of the main bounding faults of the Tintina Gold Province. High grade gold mineralisation occurs in (at least) two places along the North Fork Fault, at Quicksilver and Luna, which are 5km apart. IN addition, massive sulphide mineralisation is seen outcropping at Luna East. The Project has not been drill tested and Riversgold aims to determine the potential for a large, potentially high-grade IRG deposit by drill testing beneath these outcrops in the 2018 field season.

The Kisa Project is characterised by a large mineralised breccia located on a ridgeline, along with a series of mineralised felsic porphyry dikes. Drilling of 5 diamond holes by a former JV partner in 2007 intersected wide zones of gold mineralisation which has not been followed up.