Riversgold Identifies New Targets at Ella Prospect

THE DRILL SERGEANT: Riversgold (ASX: RGL) identified new drill targets from a review of historic drilling data surrounding the company’s recently announced Western Australia gold discoveries at Farr-Jones, Eales and Little.

Riversgold has identified added drill targets at the Ella prospect, approximately 4.5 kilometres north of Farr-Jones.

The Ella prospect is located immediately south of the Transline access road and approximately 2.5km north of the Little prospect, where Riversgold recently intersected 12 metres at 1.9 grams per tonne gold, including 8m at 2.8g/t gold in the first drilling of this target.

Riversgold explained that as with the Farr-Jones prospect, Ella is hosted in clastic sediments to the east of the Randall Fault and was previously drilled in 1990-92 by Mt Martin Gold Mines, as part of a wider campaign testing several soil anomalies generated over what was then known as the Gundockerta project.

The drilling intersected anomalous gold over a strike length of approximately 1,200m and down to a depth of approximately 80m below surface.

The east dipping mineralisation remains open at depth on several sections and no subsequent work has been completed since 1992.

“The historical results gained more prominence since the discovery of new gold mineralisation by the company at the North Farr-Jones, Eales and Little targets, all generated from soil sampling conducted by Riversgold during 2018,” Riversgold managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“These historical drilling results are similar to what we have been seeing in our recent aircore drilling and have never been followed up with any systematic deeper drilling.

“Given the discovery of high-grade gold mineralisation in deeper RC drilling at Farr-Jones, the potential for additional high-grade gold deposits along this emerging 7km long trend is significant.”

Riversgold indicated it is planning further drilling along the Farr-Jones corridor, following completion of the lake drilling campaign at Queen Lapage, and has submitted a POW application for drilling at Ella.

On the back of what it has seen from drilling beneath soil anomalies within the Farr-Jones project so far, the company will also extend its recently completed soil survey to the north, south and east.

 

Email: info@riversgold.com.au

Website: www.riversgold.com.au