Riversgold Ltd Hawkstone Prospect Exploration Ends 55-Year Drilling Hiatus

Riversgold Set to Break 55-Year Drilling Drought at Promising Pilbara Project

Riversgold Limited (ASX: RGL) has announced the commencement of its first drilling program in over half a century at the Tambourah Project in Western Australia's Pilbara region. The Riversgold Ltd Hawkstone Prospect exploration represents a significant milestone, targeting a site that sits at the centre of a 12-kilometre gold and copper trend that has remained largely unexplored since the early 1970s.

The timing couldn't be more strategic. With drilling approvals secured and consultant geological crews mobilised, drilling is expected to commence in early March 2026. This marks a significant milestone for the company's 100% owned Tambourah Project, covering approximately 110 square kilometres of prospective ground located 160 kilometres southeast of Port Hedland.

What makes this particularly compelling for investors is the historical data that's been sitting dormant for decades. Previous drilling campaigns yielded impressive intercepts, including 30.5 metres at 1.1% copper, while surface sampling has returned exceptional high-grade results of up to 21.78% copper and 3.6 grams per tonne gold.

Chairman David Lenigas commented: "We are very excited to be back on the ground at our Tambourah Project now that the summer exploration hiatus is coming to an end. We are very optimistic that this drill program will finally open up Tambourah's significant gold and copper potential."

What Makes Hawkstone Prospect Stand Out

The hawkstone prospect exploration represents a rare opportunity in today's competitive exploration landscape – a 12-kilometre mineralised trend with proven historical results that has been overlooked for over five decades. Furthermore, the prospect benefits from several key advantages that position it uniquely in the current market.

Strategic Location Benefits:

• Excellent access via Great Northern Highway and Hillside-Woodstock Road

• 100 kilometres southwest of the 2.4Mtpa CIL Processing Plant at Warrawoona Gold Project

• 120 kilometres east of the Golden Eagle Processing Plant at Nullagine

• Three granted tenements providing operational flexibility

Historical Results Summary:

The most intriguing aspect of this opportunity is that historical drilling was never assayed for gold. Consequently, the company could be sitting on dual-commodity potential that was never properly evaluated during the original 1970-1971 exploration campaigns. This oversight creates substantial upside potential for the current Riversgold Ltd Hawkstone Prospect exploration program.

Understanding Copper-Gold Systems in the Pilbara

For investors new to Pilbara geology, copper-gold systems like those at Tambourah represent some of the most valuable mineral deposits globally. These systems form when hot, metal-rich fluids move through fractured rock, depositing copper and gold minerals in concentrated zones.

Why This Matters to Investors:

• Dual-commodity exposure provides natural hedge against commodity price fluctuations

• Pilbara region has established infrastructure and mining-friendly jurisdiction

• Long mineralised trends often contain multiple economic zones

• Historical drilling gaps create re-rating opportunities when modern techniques are applied

The 12-kilometre trend length is particularly significant, as it suggests a large-scale mineralising system that could potentially host multiple deposits along its strike. In addition, this extensive mineralisation corridor demonstrates the robust nature of the underlying geological processes.

What is a Mineralised Trend?

A mineralised trend refers to a linear zone where metals like copper and gold occur in elevated concentrations over an extended distance. These trends typically form along geological structures such as fault systems or rock contacts that channel mineralising fluids.

The length of a trend often indicates the scale of the underlying geological process, with longer trends suggesting more extensive mineral systems. However, the true value lies in understanding how these trends can be systematically explored and developed.

Upcoming Drilling Campaign and Timeline

Riversgold has designed a comprehensive drilling program specifically targeting the most prospective areas within the hawkstone prospect. With approvals secured and Apex Geoscience consultants mobilised, the company is positioned for immediate execution.

Key Timeline Milestones:

• February 2026: Program finalisation and consultant mobilisation ✓

• Early March 2026: Drilling commencement (target date)

• Q2 2026: Initial results expected (estimated 6-8 week turnaround)

• Mid 2026: Follow-up drilling program design based on results

The strategic timing aligns perfectly with the end of the summer exploration season in Western Australia, allowing for optimal drilling conditions and continuous program execution. Furthermore, this scheduling ensures maximum operational efficiency during the most favourable weather conditions.

Program Objectives

The Riversgold Ltd Hawkstone Prospect exploration campaign focuses on four primary objectives:

1. Validate historical results using modern drilling and assay techniques

2. Extend known mineralisation along the 12-kilometre trend

3. Test for gold mineralisation in areas never previously assayed

4. Define drill targets for expanded exploration programs

For instance, the use of modern assay techniques could reveal gold mineralisation that was completely missed during the 1970s campaigns, potentially transforming the project's economic outlook.

Investment Case for Riversgold

The tambourah drilling program represents a compelling catalyst for Riversgold, offering multiple pathways to value creation in a relatively low-risk exploration setting. The convergence of historical validation and modern exploration techniques creates a unique investment proposition.

Key Investment Highlights:

Proven Mineralisation: Historical results provide confidence in the presence of economic-grade copper and gold mineralisation

Unexplored Upside: 55-year drilling gap means significant potential remains untested using modern exploration techniques

Infrastructure Advantage: Proximity to existing processing facilities could accelerate development timelines and reduce capital requirements

Diversified Portfolio: Tambourah complements the company's existing lithium focus, providing exposure to battery metals and precious metals

Management Track Record: Experienced team with proven ability to advance exploration projects in the Pilbara region

However, investors should consider that exploration always carries inherent risks, despite the strong historical foundation supporting this particular project.

Why Investors Should Track Riversgold

The tambourah drilling program positions Riversgold as a company to watch in 2026, with several factors converging to create a potentially transformative period for shareholders. The systematic approach to unlocking this long-dormant asset demonstrates management's strategic vision.

Catalyst Timeline:

• Immediate: Drilling commencement provides news flow and market attention

• Short-term: First results could validate historical data and confirm mineralisation continuity

• Medium-term: Successful results could lead to resource definition and development studies

• Long-term: Proximity to processing infrastructure could accelerate development pathway

The combination of proven historical results, modern exploration techniques, and 55 years of technological advancement creates a unique opportunity for value discovery. Consequently, the fact that previous drilling was never assayed for gold adds an additional layer of blue-sky potential.

Strategic Positioning

Riversgold's location in the heart of the Pilbara, combined with existing infrastructure and established mining jurisdiction, provides multiple advantages over greenfield exploration plays. The 12-kilometre trend length suggests potential for multiple discoveries within a single project area.

In addition, the company's strategic positioning allows for potential synergies with nearby processing facilities, creating multiple development pathways that could significantly reduce capital requirements and accelerate project timelines.

Key Takeaway:
Riversgold has positioned itself to unlock decades of untapped potential at Tambourah, with the upcoming drilling program representing the first systematic exploration of this copper-gold system since 1971. With proven historical results, modern exploration techniques, and strategic infrastructure proximity, investors should closely monitor developments as drilling commences in March 2026.

The Riversgold Ltd Hawkstone Prospect exploration represents more than just another drilling campaign – it symbolises the unlocking of half a century of geological potential using cutting-edge exploration methodologies. The convergence of historical validation, modern technology, and strategic location makes Riversgold's Tambourah Project one of the more compelling near-term exploration catalysts in the Australian market.

Could Riversgold's Tambourah Drilling Campaign Transform Your Portfolio?

With drilling set to commence in early March 2026 at the Hawkstone Prospect—breaking a 55-year exploration drought on a 12-kilometre copper-gold trend—Riversgold presents a rare opportunity to capitalise on decades of untapped geological potential. The combination of proven historical results, modern exploration techniques, and strategic Pilbara positioning creates a compelling investment thesis for those seeking exposure to both copper and gold mineralisation. To explore how Riversgold's systematic approach to unlocking this long-dormant asset could fit within your investment strategy, and to access detailed project information including technical reports and corporate updates, visit www.riversgold.com.au today.