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Riversgold Ltd.
Summary
| Project: | Queen Lapage | |
|---|---|---|
| Deposit: | Queen Lapage | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-2-2019: Riversgold Ltd. announces an Exploration/Drilling Update report for its Queen Lapage deposit at the Queen Lapage project. Drilling results incl. 13m @ 599ppb Au from 4m. Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to advise that it h | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Allan Kelly (Internal) | |
| ABSTRACT: | Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to advise that it has completed the maiden aircore lake drilling campaign at the large Queen Lapage gold prospect (RGL 80%) in the Eastern Goldfields of Western Australia, with initial results highlighting at least two large areas of gold anomalism stretching over a combined strike length of approximately 10 kilometres so far. Results received to date, for approximately 50% of the programme, include significant gold mineralisation in a number of holes including: Riversgold’s Managing Director, Mr Allan Kelly, said the results received so far confirmed the Company’s belief that the Queen Lapage Project could host significant gold mineralisation under Lake Yindarlgooda. “This drilling programme is the first gold exploration in this area for almost 20 years,” Mr Kelly said. “The results received to date confirm both the highly prospective geology and the clear potential for the project to host multiple large gold deposits under the lake, with each of the main gold anomalies stretching for over 2 kilometres of strike,” he added. The maiden aircore lake drilling campaign consisted of 156 aircore holes on an 800m x 200m spaced grid, with holes drilled on the surface of the lake itself using a specialised lake drilling rig (Figure 1). Several of the planned holes on islands within the lake were not drilled due to drill rig access issues. The holes were drilled vertically to refusal and intersected variable thickness of lake sediments before ending in weathered Archean basement rocks including felsic volcanics/volcaniclastic sediments, shale, siltstone and a range of mafic rocks including basalt, dolerite and gabbro. Hole depths varied from 2m to 105m, which was the limit of the drill rig. Gold and multi-element analytical results have been received for approximately 50% of the holes so far and include several significant results which, when combined with the historic drilling on islands within the lake, outline at least two large NW-SE trending gold anomalies each over 2 kilometres in strike length defined by maximum Au in hole >50ppb. The combined strike length of these two anomalies is approximately 10 kilometres. A summary of significant results received to date is shown in Table 1 with the remaining assays expected within the next fortnight. A number of holes ended in lower order gold anomalism which is potentially significant given the broad spacing of this first-pass programme. | |
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