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Riversgold Ltd.
Summary
| Project: | Farr Jones | |
|---|---|---|
| Deposit: | Farr Jones | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/13/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-8-2018: Riversgold Ltd. announces an Exploration/Drilling Update report for its Farr Jones deposit at the Farr Jones project. Drilling results incl. 4m @ 6.26g/t Au from 119m. Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to provide an update | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Allan Kelly (Internal) | |
| ABSTRACT: | Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to provide an update on results from RC drilling at its Farr-Jones prospect in Western Australia. Farr-Jones is located approximately 15km northeast of Silver Lake Resources’ Randalls processing plant in the Eastern Goldfields region of WA (Figure 1) and is one of several targets identified from historical surface geochemical surveys completed during the late 1980’s and early 1990’s. Riversgold recently announced the discovery of high-grade gold mineralisation in the first two holes drilled at Farr-Jones, including 3m @ 17.8g/t Au in FJRC0001 (see ASX Release dated 2 July 2018). The Company has now received all results for the first drill programme of nine holes with high-grade gold seen in at least two zones in hole FJRC0001 and FJRC0002 as follows. FJRC0008 was drilled down-dip from FJRC0001 but was abandoned before reaching the target depth due to the hole dip deviating upwards excessively (Figure 3). FJRC0009 was drilled down-dip from hole FJRC0002 and also deviated upwards, but intersected sulphide mineralisation at 160-166m downhole and returned a result of 3m @ 0.78g/t Au from 166m. The mineralisation at Farr-Jones remains open at depth, below hole FJRC0001, and also to the south. A follow-up drilling programme has been planned to outline the potential extent of the gold mineralisation at Farr-Jones following completion of the current Alaskan field programmes. The Company has also received approval for drilling at the Horan target, approximately 1.5km north of Farr-Jones, where a similar sized soil anomaly to that seen at Farr-Jones has never been drill tested. Given the association of the gold mineralisation with extensive amounts of sulphides, the Company is considering the use of electrical geophysics as an additional targeting tool at both Farr-Jones and Horan. | |
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