Riversgold Limited is an ASX-listed exploration company, focusing on the discovery and development of copper and gold resources. With a diverse portfolio that includes lithium, uranium, and iron ore, Riversgold is committed to unlocking the potential of its key projects in the Pilbara and Yilgarn regions.
At the heart of Riversgold’s strategy are its flagship projects, featuring the Tambourah and Northern Zone Projects.
The Tambourah Project is highly prospective for copper and gold, featuring a newly identified 12km copper-gold trend. Recent exploration has yielded exceptional high-grade results, including rock chip samples of up to 3.2 oz/t (101 g/t) Au and 4.1% Cu from the Lone Star Prospect.
Located just 25 km east of Kalgoorlie, the Northern Zone Project offers a substantial bulk tonnage gold opportunity. It has an exploration target of 200-250 Mt at 0.4-0.6 g/t Au, equating to 2.5-4.8 million ounces of gold.
The recently completed 1,903m of shallow drilling has delivered the highest grade interval to date of 27.5 g/t gold (NZAC033), successfully targeting a shallow gold mineralisation blanket in the oxide zone, following up on the previously reported 18m at 4.14 g/t Au from 36m (NZRC001).
Riversgold has recently undergone significant restructuring, including refreshing its management team and streamlining operations to reduce costs. The Company has strategically reduced its tenement portfolio from 55 to 19, focusing on priority projects and reducing annual expenditure commitments from ~$2.4M to ~$250k.
With a market capitalisation of $7.8M as of July 2024 and a recent $1.8M placement, Riversgold is well-positioned to advance its exploration activities and capitalise on its diverse and promising portfolio, paving the way for sustainable growth and increased shareholder value.
The Tambourah Project, situated in Western Australia’s Pilbara region, is a highly prospective area for copper and gold exploration, covering approximately 110 square kilometres. The Project has identified a significant 12 km copper-gold trend with multiple high-grade prospects, including Logans Find, which has recorded assays of up to 67.1 g/t gold. Notable results from rock chip sampling at the Lone Star and Hawkstone prospects include up to 101 g/t gold and 21.78% copper, respectively.
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The Northern Zone Project is located ~25km east of Kalgoorlie in the prolific Kalgoorlie-Norseman Gold Belt, close to existing infrastructure. Characterised as an underexplored, lower grade/bulk tonnage, porphyry- hosted gold deposit, analogous to the Saturn Metals’ Apollo Hill Project (ASX:STN), Riversgold is targeting 200-250 Mt @ 0.4-0.6 g/t Au. The Project has seen its prospective gold system more than double through phase 2 drilling, with a recently completed 1,903m of shallow drilling delivering the highest grade interval to date of 27.5 g/t gold (NZAC033).
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The Wodgina Project is an exciting high-grade iron potential play, centered around the newly granted Wodgina East tenement (E45/6363). This tenement is strategically positioned adjacent to the eastern boundary of Mineral Resources’ (ASX: MIN) Wodgina Mine, placing it in a prime location just 114 km from the Utah Point shipping terminal via the Great Northern Highway. Geological mapping has confirmed channel iron mineralisation in the mesas within the area, and historical rock chip samples from Mesa 2 have shown promising results, with iron content ranging from 51.94% to 56.67% Fe.
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The Andover Project is a promising lithium opportunity, located near Raiden Resources’ Andover South and Azure Minerals’ Andover lithium discoveries. Initial field programs have already been completed across two large, contiguous tenements: ELA 46/5072 (189 km²) and ELA 47/5086 (207 km²). Situated just 16.5 km south of Azure Minerals’ Andover Lithium Project and 14.8 km south of Raiden Resources’ Andover South lithium target, the Project area has shown recorded lithium grades of up to 3.80% Li₂O, highlighting its potential as a significant lithium resource.
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The Randalls North Project, located ~65 km southeast of Kalgoorlie, spans 106 km² and is adjacent to Silver Lake Resources’ (SLR) Mt Belches Mining Centre. The Mt Belches Mining Centre contains 179,000 ounces of ore reserves, 1,209,000 ounces of mineral reserves, with an ore reserve grade of 6.0 g/t Au, and a quarterly gold production of 23,429 ounces. The Project shares similar geology and structural trends with its neighbouring proven gold reserves, making it a highly promising exploration opportunity.
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The Onslow South Project is a highly prospective uranium exploration venture, strategically located near significant uranium deposits in Western Australia. Spanning 324 km², the tenement E08/3682 is situated approximately 40 km south of Onslow. The Project is adjacent to Cauldron Energy’s Yanrey Project, home to the Bennet Well deposit with 30.9 million pounds of U₃O₈, and lies just 20 km NNE of Paladin Energy’s Manyingee deposit, which boasts 15.7 million pounds of U₃O₈. Additionally, the Project is a mere 1.5 km from a historical uranium occurrence identified in 1980, where drilling results showed 0.5 metres at 550ppm U₃O₈ from a depth of 107.4 metres.
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