Riversgold Limited announced that it has received further assay results from five (5) reverse circulation (RC) drill holes of an 11 hole 1,289m program recently completed at the Northern Zone Intrusive Hosted Gold Project, located 25 km east of Kalgoorlie in Western Australia. A further 1,303 samples from a 1,805m vertical drill program have been submitted to the assay laboratory and are expected over the coming weeks. This totals 36 drill holes for 1,756 samples in at the assay laboratory.
Possible ore processing scenarios have been demonstrated by the recent success of Black Cat Syndicate Ltd. via their use of a turn-key funding, development and processing package at their Myhree/Boundary open pits, located 7km to the north of the Northern Zone Project. Conceptually, the Company draws parallels between Northern Zone and Saturn Metals' Apollo Hill Project, discerning similarities based on the PEA statement released by Saturn Metals, which suggests the potential for a sizeable low-grade heap leach operation. Saturn Metals Limited has released a Preliminary Economic Assessment (PEA) on the Apollo Hill Gold Project which is located 175km due north of Northern Zone.
With a resource estimate of 118Mt at 0.53g/t gold, totalling 2.03Moz1, this development serves as a benchmark for its aspirations at Northern Zone, albeit with the potential for Northern Zone to be an even larger project.
