Riversgold Drills Exceptional 71 g/t Gold Intercept at Northern Zone Near Kalgoorlie

Record-Grade Gold Intercepts Boost Northern Zone Prospects

Riversgold Limited (ASX:RGL) has unveiled its most impressive drilling campaign yet at the Northern Zone Gold Project, just 25 kilometres east of Kalgoorlie, Western Australia. Assay results from 31 aircore drill holes reveal gold grades peaking at a staggering 71 grams per tonne (g/t), marking some of the highest-grade and widest intercepts recorded at the site to date. Notable hits include 15 metres at 5.62 g/t and 8 metres at 9.90 g/t, all from relatively shallow depths averaging around 48 metres.

This surge in assay quality underlines the potential of the Northern Zone’s porphyry-hosted gold system, where mineralisation occurs within a Tonalite-Trondhjemite Intrusion (TTI) along the Canon Shear fault zone. The drilling campaign successfully tested the critical saddle area between the central and eastern mineralised zones, expanding the known lateral extent of gold mineralisation in oxide zones that are amenable to open-cut mining methods.

Mining Lease Conversion and Strategic Partnership Near Completion

The timing of these results dovetails with Riversgold’s imminent conversion of the Northern Zone tenement to a Mining Lease, a key regulatory milestone expected within weeks. This will clear the path for development activities and supports the company’s collaboration with MEGA Resources, which has committed to fully fund mining and development under a 50/50 profit share arrangement. The partnership, formalised in a Right to Mine and Co-Operation Agreement signed last September, positions Riversgold to leverage MEGA’s capital and operational expertise to expedite project advancement.

Heritage clearance surveys over the project area have recently been completed, removing another potential hurdle ahead of mining. The shallow nature of the mineralisation, combined with the absence of groundwater down to 60 metres, enhances the feasibility of cost-effective aircore drilling and mining operations.

Expanding Footprint Amidst Tenement Growth

These latest drilling results build on Riversgold’s recent tenement consolidation efforts, which saw an 820% increase in Kalgoorlie Gold Project area earlier this year. The company secured a strategic adjacent tenement in March, setting the stage for further exploration and resource growth. This expansion is critical as it strengthens the geological model and supports the broader vision of a sizeable, economically viable gold deposit.

Riversgold’s Executive Chairman David Lenigas noted that the new intercepts “continue to expand the lateral footprint of Northern Zone” and “will enhance the MEGA Resources mining scenario for 2026.” The company plans follow-up drilling to test mineralisation extensions laterally and at depth, guided by updated 3D geological models generated using Leapfrog software, which illustrate promising gold grade shells around current drill traces.

These developments echo Riversgold’s ongoing efforts to sharpen its exploration focus, as seen in their recent Right to Mine and Co-Operation Agreement with MEGA Resources, which underpins a clear pathway to production. Meanwhile, the company’s broader portfolio continues to attract interest, highlighted by a recent high-resolution magnetic survey at its Saint John Project in Canada, further diversifying its exploration pipeline.