THE DRILL SERGEANT: Riversgold (ASX: RGL) is out and about conducting field work activities at the company’s Kurnalpi project, east of Kalgoorlie in Western Australia.
Riversgold has mobilised a field crew to carry out sampling activities and to validate remote sensing regolith interpretation.
The company’s consultant geologists have identified over 40 potential targets from the reprocessing of available magnetics datasets.
Initial remote sensing interpretation shows 14 of those targets are potentially amenable to conventional soil sampling as first pass exploration method.
Consultants are now refining targets by validating the magnetics interpretation against historical data, geological information and new field data acquisition in order to prioritise work over the next weeks.
Following this next phase of work, Riversgold expects to be in a position to start permitting of drilling activities on first order targets under cover, which it hopes to commence next quarter when the weather allows for access on and around salt lakes.
“We are very excited to finally have boots on the ground after 18 months of inactivity in the company,” Riversgold executive director Xavier Braud said in the company’s announcement to the Australian Securities Exchange.
“The sampling currently underway will help us confirm existing targets, generate new ones and prepare for the next phase of exploration.
“We are defining and working through an impressive pipeline of projects, finally extracting the full value of our outstanding tenement package.
“We look forward to be updating the market with results from the field.
“Our systematic, back to basics approach is already showing more early exploration targets than we ever had before.
“The search for the next significant gold deposit in the Kalgoorlie region is now well underway.”
The company is cahsed up to carry out its current activities due to the recent receipt of just over $173,000 being first substantial cash payment from Mamba Minerals for its farm-in acquisition of Riversgold’s Alaskan projects.
“This cash payment is a welcome addition to the Kurnalpi exploration budget, realising value from both our Alaskan Tenements and our Western Australian assets,” Braud said.
“We are looking forward to a mutually beneficial collaboration with Mamba Minerals over the Alaskan projects.”