Riversgold Nears Mining Lease Approval as Drilling Advances Northern Zone
Riversgold has completed a significant drilling campaign at its Northern Zone within the Kalgoorlie Gold Project, with mining lease approval expected imminently. Collaborative efforts with MEGA Resources are accelerating plans for gold extraction in 2026.
- 31 new drill holes completed totaling 2,013 metres
- Assay results pending, to be released in batches soon
- Mine Development and Closure Plan progressing with MEGA Resources
- Mining Lease conversion expected imminently
- MEGA Resources to fund development and mining on a 50/50 profit share
Drilling Milestone at Northern Zone
Riversgold Limited has marked a key milestone in its Kalgoorlie Gold Project with the completion of 31 new drill holes, totaling over 2,000 metres, at the Northern Zone. This area, situated between the central and eastern mineralised zones, has been relatively underexplored until now. The samples collected have been submitted for assay, with results expected to be released in batches over the coming weeks, setting the stage for a clearer understanding of the gold mineralisation potential.
Advancing Mine Planning and Environmental Assessments
Alongside drilling, Riversgold is making steady progress on its Mine Development and Closure Plan (MDCP), working closely with ResourcesWA and MEGA Resources, its project development partner. Key technical activities include geotechnical drilling to assess pit slope stability, water bore testing, and ongoing flora and fauna surveys. These efforts are critical to ensuring the project meets environmental standards and regulatory requirements ahead of mining operations.
Mining Lease on the Horizon
All objections to the Mining Lease application for the Northern Zone have been resolved, and Riversgold is optimistic about the imminent grant of the lease by the Department of Mines, Petroleum and Exploration. This approval is a pivotal step, enabling the company and MEGA Resources to move forward confidently with development and mining activities planned for the first half of 2026.
Strategic Partnership with MEGA Resources
MEGA Resources will provide all funding for the development and mining phases under a 50/50 profit-sharing agreement. This partnership not only alleviates capital burden on Riversgold but also aligns incentives for efficient project execution. The recent drilling results will directly inform MEGA’s mine planning, underscoring the collaborative nature of this venture.
Looking Ahead
With the groundwork laid through drilling and environmental assessments, and the mining lease approval imminent, Riversgold is positioning itself to unlock value from the Northern Zone. The upcoming assay results will be closely watched by investors and analysts alike, as they hold the key to refining resource estimates and shaping the project’s economic outlook.
Bottom Line?
As Riversgold edges closer to mining commencement, the market awaits assay results that will define the Northern Zone’s true potential.
Questions in the middle?
- What will the upcoming assay results reveal about the grade and extent of gold mineralisation?
- How quickly will the Mining Lease be granted and what conditions might it include?
- What are the financial and operational implications of MEGA Resources’ funding and profit-sharing arrangement?
