THE DRILL SERGEANT: Riversgold (ASX: RGL) has received all results from a maiden aircore lake drilling campaign undertaken at the company’s Queen Lapage project in the Eastern Goldfields of Western Australia.
Riversgold said the drilling has outlined regolith gold anomalism stretching over approximately 11 kilometres, claiming this has confirmed the potential for discovery of substantial gold mineralisation under Lake Yindarlgooda.
The maiden aircore lake drilling campaign consisted of 156 aircore holes, with holes drilled on the surface of the lake itself using a specialised lake drilling rig.
THE RESOURCES ROADHOUSE SPOKE WITH RIVERSGOLD MD ALLAN KELLY AT THE RIU EXPLORERS CONFERENCE IN FREMANTLE:
Recently acquired assays for the second half of the program included several new gold results, including:
4 metres at 120ppb gold from 12m and 5m at 215ppb gold from 24m to end of hole (EOH);
4m at 135ppb gold from 12m;
4m at 216ppb gold from 20m;
4m at 316ppb gold from 24m;
4m at 267ppb gold from 56m;
4m at 131ppb gold from 40m;
4m at 869ppb gold from 32m; and
12m at 92ppb gold from 20m, including 4m at 107ppb gold from 28m to EOH.
Riversgold explained its drilling combined with historic drilling previously conducted on islands within the lake to outline a coherent regolith gold anomalism over approximately 11 kilometres of strike length with several of the anomalies open at depth and in at least one direction.
There is also a further five kilometres of the same structure to the south of the lake which has never been drilled.
“The company is excited about the scale and tenor of the gold anomalism outlined by the first ever lake drilling campaign at Queen Lapage,” Riversgold managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.
“We have now outlined several very large areas of coherent regolith gold anomalism in consecutive drill holes and across multiple widely spaced drill lines at Queen Lapage.
“These are very large gold anomalies that appear to be associated with bedrock features interpreted from the regional aeromagnetic data and any one of them is large enough to indicate the presence of a significant gold deposit under the lake.”