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Riversgold Ltd.
Summary
| Project: | Cutler | |
|---|---|---|
| Deposit: | Cutler | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-6-2018: Riversgold Ltd. announces an Exploration/Drilling Update report for its Cutler deposit at the Cutler project. Drilling results incl. 4m @ 5.31g/t Au from 30m. Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to report on results from the f | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Allan Kelly (Internal) | |
| ABSTRACT: | Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to report on results from the first drilling programme within its 100% owned Cutler Target, in the Eastern Goldfields region of Western Australia. Drilling has returned high-grade gold results from the oxide zone, whilst over 80% of drill holes have intersected the interpreted mineralised basement structure, over approximately 500m of strike (Figure 1). Riversgold purchased 100% of Exploration Licence E25/550, containing the Cutler target, in February 2018 (see ASX release dated 26 February 2018). Cutler is located approximately 7.5km south of the Transline-Access road and 15km northeast of Silver Lake Resources’ Randalls processing plant. The first drilling campaign at Cutler consisted of 11 RC holes testing for the presence of a mineralised structure beneath supergene gold anomalism in historical RAB and RC drilling. The holes were spaced at 50-100m intervals along strike and all holes except one (CURC0001) were drilled towards the east. The holes encountered altered basalt and dolerite, along with quartz veins and stringers and minor amounts of sulphides including pyrite, pyrrhotite, arsenopyrite and chalcopyrite. Gold mineralisation was intersected within both the oxide zone and the interpreted basement structure with significant gold results from several holes including Riversgold’s Managing Director, Mr Allan Kelly, said the results of the first drilling campaign at Cutler had confirmed the presence of high-grade gold mineralisation and a mineralised structure over 500m of strike and to depths of over 130m below surface so far. “We believe the results have definitely justified the decision to purchase the Project,” he said. The Cutler structure remains open at depth whilst historical RAB drilling suggests the structure persists for at least 2km of strike in an NNE/SSW direction (Figure 2). A second structure is interpreted to exist parallel to and 1km east of the Cutler structure and continues onto Riversgold’s 80% owned E25/541. Mr Kelly said follow-up drilling of the main Cutler zone would start as soon as a suitable rig is available. “We are looking forward to systematically testing the Cutler structure as well as scoping out the potential of the high-grade oxide gold mineralisation including along strike and on the eastern structure” he said. | |
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