Riversgold Launches Aggressive Dual-Rig Drilling Campaign at Kalgoorlie East Gold Project

Riversgold Ltd

• ASX Code: RGL
• Market Cap: $8,418,563
• Shares on Issue (SOI): 1,683,712,593
• Cash: $1,216,000 (as of 31 December 2024)

Summary of the Announcement:
Riversgold Ltd, operating in the heart of one of Australia’s premier mining corridors, is accelerating its exploration agenda at the Kalgoorlie East Gold Project. The announcement highlights the deployment of two drilling rigs targeting both deep and shallow mineralisation, while the submission of a mining lease application underlines the company’s strategic move from exploration to future mine development.

Introduction to Riversgold Ltd and the Kalgoorlie East Gold Project

Riversgold Ltd is carving out its niche in the competitive world of gold exploration. Based in Australia’s iconic mining region, the company is focused on delineating significant gold resources in the Kalgoorlie East area. This project is distinguished by its favourable location and robust geological indicators that suggest a substantial presence of gold mineralisation continuing well beyond currently known zones.

Combining both historical drilling success and advanced modern techniques, Riversgold’s current investment in dual drilling methods – reverse circulation (RC) and aircore – emphasises its commitment to securing a comprehensive understanding of the deposit’s continuity and grade potential. With a clear vision for progressive exploration, the company is determined to transition its findings into tangible development opportunities, promising exciting prospects for its stakeholders.

Why Explore at Kalgoorlie East?

Kalgoorlie has long been synonymous with gold production and boasts an established mining infrastructure. The Kalgoorlie East Gold Project sits within this prolific setting, offering significant strategic advantages:

• Proximity to renowned mining districts enhances access to well-developed transport, energy, and service networks.
• Historical drilling results in the region indicate the potential for extended high-grade gold zones.
• The application for a mining lease signals a pathway towards future production, aligning with both exploration and operational milestones.

These attributes confirm that Riversgold’s exploration efforts are not only technically sound but also strategically well-placed within a celebrated mining territory.

What Are the Drilling Activities at Kalgoorlie East?

Riversgold is actively advancing two parallel drilling programmes designed to uncover both near-surface and deeper mineralisation. The key components of this approach include:

1. RC Drilling Programme:

   • A reverse circulation rig is set to start a 1,280-metre campaign.
   • The focus is on drilling holes with depths ranging from 100 to 120 metres, targeting the extension of known mineralised zones.
   • This method proves beneficial by confirming continuity below historical drill intersections and providing immediate feedback on grade trends.

2. Aircore Drilling Programme:

   • Concurrent with the RC drilling, a 2,000-metre aircore campaign is scheduled to commence around 17 March 2025.
   • This programme targets shallow mineralisation zones, aiming to expand the understanding of near-surface gold concentrations.
   • The aircore method is fast and efficient, offering detailed core profiling that supports geological mapping.

3. Northern Zone Focus:

• Both drilling campaigns concentrate on the 600-metre-wide porphyry system at the Northern Zone.
• Situated 25 kilometres east of Kalgoorlie, this area has shown significant promise through historical data.
• The integration of both drilling techniques helps build a robust dataset, essential for future resource estimations.

4. Mining Lease Application:
   • Alongside drilling, Riversgold has submitted a mining lease application (M25/389).
   • This application is a crucial step towards securing the necessary legal and regulatory approvals to transition from exploration into a potential production phase.

Collectively, these initiatives reflect a disciplined and data-driven approach, designed to maximise the discovery potential and integration of geological information for resource modelling.

How Does the Drilling Programme Impact Riversgold’s Future?

Investors and stakeholders are keen to understand the implications of the current exploration efforts. The dual-drilling programme is not only about data collection but about de-risking the project and opening pathways to future development. Here’s what this exploration phase means for the company:

• Enhanced Geological Understanding:
  The combination of deep RC and shallow aircore drills provides a more comprehensive geological picture. This data is critical for constructing reliable Mineral Resource Estimates (MREs) which underpin investment decisions and project viability.

• Focused Data Collection:
  Innovative techniques like gamma logging and bulk density measurements are integral to accurately defining the mineralisation. These measurements help refine the economic potential, paving the way for more precise exploration targeting.

• Strategic Milestones:

The submission of a mining lease application is more than a regulatory requirement; it is a statement of intent. By moving towards formal development, Riversgold commits to a clear pathway that investors can track in the near term.

• Improved Investment Case:
  By applying a dual-track drilling approach, the company reduces exploration risk and leverages multiple datasets to validate discoveries. This balanced strategy increases confidence for both current and prospective investors, underlining the long-term production prospects.

What Makes Porphyry Gold Systems Attractive?

Understanding the geological framework is crucial in mining exploration. Porphyry systems, like the one at Riversgold’s Northern Zone, are known for their scale and potential longevity.

• Broad Mineralisation:
  Porphyry deposits typically extend over large areas, meaning that even moderate-grade mineralisation can add substantial value over time when extracted efficiently.

• Depth and Continuity:
  These systems are characterised by mineralisation that extends deep into the earth. Riversgold’s drilling programme, by targeting both shallow and deeper targets, is well-positioned to capture this continuity, which is essential for a sustained production life of mine.

• Robust Exploration Foundations:

With historical high-grade gold intersections already documented in the region, investors see a clear opportunity for scaling up resource estimates and enhancing the overall economic feasibility of the project.

A Roadmap Towards Development

A clear and disciplined exploration strategy is pivotal to de-risking early-stage projects. Riversgold Ltd has articulated a series of milestones that provide transparency and build investor confidence:

1. RC Drilling Phase:

   • Targeting a 1,280-metre RC drilling programme focused on defining transitional mineralisation zones.
   • Emphasis on collecting geological and geophysical data to support future MRE developments.

2. Aircore Campaign Launch:

   • Focused on a 2,000-metre aircore campaign aimed at mapping shallow mineralisation.
   • Rapid data turnaround from aircore drilling will help refine the overall geological model.

3. Mining Lease Application Progress:

• The successful submission of application M25/389 is intended to fast-track regulatory approvals.
• This milestone is key in transitioning from exploration to demonstration of production potential.

4. Enhanced Operational Efficiency:
   • Operating two drilled rigs simultaneously could significantly reduce development timelines.
   • The combination of different drilling methodologies also ensures a higher confidence in the structural and grade continuity of the target zones.

Investment Thesis – Why Follow Riversgold Ltd?

Investors looking to capitalise on emerging opportunities within the gold exploration sector need look no further than Riversgold Ltd. The company’s strategic position and progressive exploration programme offer a compelling case:

• Prime Location:
  The Kalgoorlie region is internationally recognised as a gold hotspot. Its rich mining heritage and established infrastructure provide a solid base for exploration activities.

• Balanced Drilling Approach:
  Utilising both RC and aircore drilling allows Riversgold to effectively bracket its target zones, reducing exploration risk and potentially expediting future resource delineation.

• Data-Driven Decision Making:

The integration of modern exploration techniques, including gamma logging and bulk density analysis, lays a robust foundation for resource estimation and operational planning.

• Clear Pathway to Development:
  The mining lease application reflects the company’s strategic commitment to moving swiftly from exploration success towards production feasibility. This is an important indicator for investors seeking companies with defined growth trajectories.

• Sustainable Exploration Strategy:
  The dual-track exploration programme is designed to progressively unlock the gold potential in both shallow and deeper targets, promising long-term value creation.

Riversgold Ltd’s methodical focus on refining its understanding of the Kalgoorlie East Gold Project emphasises both geological rigour and operational excellence—a combination that is likely to reduce resource uncertainty and maximise shareholder value.

Conclusion

Riversgold Ltd is making significant strides in unlocking the gold potential of the Kalgoorlie East Gold Project. With a clear strategic focus on both near-surface and deep exploration, the company is leveraging its dual drilling approach to secure a comprehensive dataset that is critical for future Mineral Resource Estimates. The submission of a mining lease application further solidifies its commitment to transitioning towards development.

For investors, Riversgold offers exposure to a well-structured exploration project in one of Australia’s most promising mining regions. Through rigorous drilling, strategic positioning, and a clear pathway to mine development, the company is set to become a key player in the evolving Australian gold sector.

Ready to Dive Deeper into Riversgold's Gold Exploration Strategy?

Unlock the potential behind Riversgold's exciting Kalgoorlie East Gold Project exploration efforts. Whether you're an investor seeking cutting-edge opportunities in the gold sector or a market enthusiast tracking emerging mining prospects, visit Riversgold's official website to explore the full details of their strategic drilling programme, mining lease application, and future development roadmap.