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Riversgold Ltd. ( (AU:RGL) ) has provided an update.
Riversgold Ltd. has commenced grade control drilling at its Northern Zone Gold Project, located 25 km east of Kalgoorlie. This drilling program targets the shallow undrilled areas between existing mineralised zones, aiming to expand the project’s gold mineralised footprint. The recent rise in the Australian dollar gold price to over $6,500/ounce enhances the project’s potential profitability. This initial two-week drilling program is part of a broader plan, with another phase scheduled for mid-November, and results are expected to start emerging in early November. The project is strategically positioned to capitalize on the high gold prices, and the company is advancing towards a maiden Mineral Resource Estimate.
More about Riversgold Ltd.
Riversgold Limited (ASX: RGL) is a company operating in the gold mining industry, focusing on exploration and development projects. Its primary project is the Northern Zone Gold Project located near Kalgoorlie, Western Australia, where it aims to expand its gold mineralised footprint.
Technical Sentiment Signal: Sell
Current Market Cap: A$18.75M
For an in-depth examination of RGL stock, go to TipRanks’ Overview page.