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Riversgold Ltd.
Summary
| Project: | Yilgani | |
|---|---|---|
| Deposit: | Yilgani | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-11-2017: Riversgold Ltd. announces an Exploration/Drilling Update report for its Yilgani deposit at the Yilgani project. Drilling results incl. 4m @ 68ppb Au from 24m. Riversgold Limited (ASX:RGL, “Riversgold”) is pleased to announce results from the C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Allan Kelly (Internal) | |
| ABSTRACT: | Riversgold Limited (ASX:RGL, “Riversgold”) is pleased to announce results from the Company’s maiden drilling campaign at the Yilgani Project, in the Eastern Goldfields of Western Australia. The aim of the maiden drilling campaign at Yilgani was to use wide spaced reconnaissance aircore drilling to test for the presence of gold anomalism along the “Yilgangi Fault” that could point to the possibility of significant gold mineralisation within the Project tenements. Results received have confirmed the presence of extensive regolith gold anomalism coinciding with two structural targets identified from regional aeromagnetic data. Riversgold’s Managing Director, Mr Allan Kelly, said the initial results were encouraging, especially when compared with the results from similarly spaced historical drilling at the Lake Roe Project, prior to Breaker Resources commencing exploration in 2015. “Our initial drill lines were spaced at roughly 2km, with drill holes 200m apart. With these wide-spaced drill holes, we were looking for low-level geochemical anomalism over multiple holes,” Mr Kelly said. “We have defined two large zones of regolith gold anomalism coincident with prospective structural targets that we will follow up with closer spaced drilling as soon as we receive approvals,” he added. The maiden aircore drill program was planned as a series of east-west reconnaissance traverses along the Yilgangi Fault at roughly 2km intervals, using existing station tracks and fence lines where possible (Figure 1). A total of 171 holes were completed for a total of 5,405m. Drill holes were spaced at 200m intervals along the traverses and drilled vertically to refusal. The hole depths ranged from 1m to 82m and averaged 31m with approximately 4-6m of transported material. | |
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