Riversgold Ltd's Northern Zone gold project is capturing attention as it progresses towards establishing a significant presence in the gold mining sector. Chairman David Lenigas recently discussed the project's potential, emphasizing the current favorable conditions driven by rising gold prices, which are expected to reach approximately A$4,000 an ounce. This surge is partly attributed to increased central bank gold purchases, a trend Lenigas believes will lead to a revaluation of junior gold companies.
The project, located near the mining hub of Kalgoorlie, boasts an exploration target of 2.8 to 4.5 million ounces of gold. Lenigas drew comparisons to Saturn Metals' Apollo Hills project, noting similar geological features and promising metallurgical results, including a 92% recovery rate. These factors underscore the project's potential to become a major gold producer.
Efforts to build JORC-compliant mineral resource estimates are underway, with continued drilling aimed at verifying the geological model. Success has been reported up to 450 metres in depth, indicating the robustness of the project's foundation. For more information on JORC standards, visit https://www.jorc.org.
The combination of rising gold prices, promising exploration results, and strategic location positions Riversgold Ltd's Northern Zone project as a noteworthy development in the gold mining industry. The project's progress reflects the broader potential of junior gold companies in the current market environment.
