ResourceRiversgold Limited (ASX: RGL, Riversgold or the Company) recently shared the final batch of assay results from the November aircore (AC) drilling conducted during Riversgold’s fourth aircore program at the Northern Zone Intrusive Hosted Gold Project in Western Australia, 25km east-south-east of the Kalgoorlie Super Pit. The drillholes at the Northern Zone continue to yield significant shallow gold intercepts, such as 8m at 4.86 g/t Au from 34m and 6m at 3.13 g/t Au from 30m. The high-grade oxide zone within the 600m wide porphyry system has been expanded, validating the shallow gold mineralisation associated with the Northern Zone porphyry.
The ongoing success at the Northern Zone Gold Project has been promising, with excellent grades at relatively shallow depths over good widths within the overall porphyry. Riversgold’s Chairman, David Lenigas, expressed optimism about the project’s potential, especially after observing the success of Black Cat Syndicate Ltd’s Myhree open pit operations just 7km north of the Northern Zone. Riversgold is evaluating if similar operations can be implemented at the Northern Zone once the tenement is converted to a Mining Lease.
The company’s recent AC drilling campaign, conducted by Australian Aircore Drilling, added 1,545m of drilling to the project area, bringing the total drilled meters in 2024 to 8,971m of AC drilling and 1,363m of reverse circulation drilling. The results from these drilling efforts further confirm the presence of significant gold mineralisation within the project area, with 14 of the 16 drillholes intersecting gold mineralisation. The high-grade zone in the northwestern extensional area and the extension of anomalous gold mineralisation in eastern and north-eastern areas support the broader geological model of the project.
Riversgold is now focused on updating its Leapfrog gold model for the Northern Zone with the latest results, which will guide future drill campaigns. A mineralisation report is expected by the end of the month, followed by the submission of a Mining Lease application. The company remains committed to advancing the project and unlocking its full potential.
In the broader context of the mining sector in Mali, recent developments involving Resolute Mining and Barrick Gold highlight the government’s efforts to restructure mining agreements and assert greater control over the sector. The detentions of key executives from these mining companies signal a shift in the government’s approach to mining governance, aiming to secure more financial benefits for the state. However, the confrontational stance taken by the government has raised concerns among international investors and industry observers regarding the stability and attractiveness of the Malian mining sector.
As the situation unfolds, it is crucial for all parties involved to engage in constructive dialogue to find mutually acceptable resolutions that ensure the continued success and sustainability of mining operations in Mali. The outcome of these disputes could have far-reaching implications for the country’s economy and its position in the global mining industry.
