30 Holes, 2,000 Meters: Riversgold Targets Gold Growth Near Kalgoorlie
Riversgold Limited has commenced its second drilling phase at the Northern Zone Gold Project near Kalgoorlie, aiming to extend gold mineralisation ahead of planned mining in 2026. Results from the initial phase are expected soon, potentially shaping the project's next steps.
- Phase 2 drilling underway targeting Northern Zone expansion
- 30 holes planned over 2,000 meters, expected to take two weeks
- Phase 1 assay results anticipated shortly
- Project located 25 km east of Kalgoorlie Super Pit
- Joint mining plan with Mega Resources targeting 2026 start
Riversgold Advances Kalgoorlie Gold Project
Riversgold Limited (ASX, RGL) has kicked off its Phase 2 drilling campaign at the Northern Zone Gold Project, situated just 25 kilometres east of the iconic Kalgoorlie Super Pit in Western Australia. This latest program aims to expand the known gold mineralisation footprint within the project area, reinforcing the company’s strategic push towards mining operations planned for the first half of 2026.
The Phase 2 program is designed to drill 30 holes totaling approximately 2,000 meters, with operations expected to span around two weeks. This follows a Phase 1 drilling effort completed in October, with assay results from that initial campaign anticipated in the coming weeks. These results will be critical in informing both Riversgold and its joint venture partner, Mega Resources, as they refine mine planning and resource estimates.
Geological Context and Historical Results
The Northern Zone is hosted within a Tonalite-Trondhjemite Intrusion (TTI) porphyry unit, intersected by the Canon Shear fault zone. This geological setting has yielded encouraging gold intercepts in previous drilling, with notable results including intercepts such as 18 meters at 4.14 grams per tonne (g/t) gold from 36 meters depth, and 10 meters at 8.89 g/t from 46 meters. The horizontal nature of the mineralisation and the absence of water down to 60 meters depth have facilitated effective drilling techniques to date.
These historical intercepts underscore the potential for significant resource expansion, which Riversgold is keen to capitalise on before advancing towards a maiden Mineral Resource Estimate. The ongoing drilling programs are integral to this process, providing the data necessary to better define the mineralisation limits and support future mining operations.
Strategic Implications and Next Steps
Riversgold’s Chairman, David Lenigas, emphasised the importance of completing two drilling campaigns before year-end to bolster the gold footprint within the top 50-60 meters of the project. The company’s collaboration with Mega Resources is central to progressing the MEGA Resources mining scenario for 2026, with the Northern Zone drilling feeding directly into joint mine planning efforts.
As assay results from Phase 1 start to emerge, market participants will be watching closely for indications of resource growth and grade consistency. These outcomes will shape the company’s next moves, including the timing and scale of a formal Mineral Resource Estimate and potential mining development.
Bottom Line?
Riversgold’s drilling momentum at Kalgoorlie sets the stage for a pivotal resource update and mining plan refinement in 2026.
Questions in the middle?
- What will the Phase 1 assay results reveal about grade continuity and resource size?
- How will Mega Resources adjust its mining plans based on new drilling data?
- When might Riversgold release a maiden Mineral Resource Estimate for the Northern Zone?
