Riversgold (ASX:RGL) strike high grade Mt Holland lithium
October 23, 2023Riversgold‘s maiden drill campaign directly east of the Earl Grey Deposit has returned high grade lithium from its Mt Holland Project in Western Australia.
The 4m at 1.27% Li2O from 97m strike from the Earl Grey East prospect included 1m at 2.44% Li2O from 98m while a second hole 100m north intersected 2m at 0.35% Li2O from 56m.
Riversgold Chief Executive Officer Julian Ford said having intersected several prospective pegmatites and returned significant grades of lithium mineralisation, its first pass program had been very successful.
“There are a number of other prospects still to be tested. Drilling depth was somewhat limited in this maiden RC program due to ground water, and this will be catered for in the next phase of drilling when hole depths will target around 250m,” Mr Ford said.
Forward plan
Riversgold put a temporary halt on drilling for assays and proof of lithium in the intercepted pegmatites after noticing geometry different than expected given its location.
The company will now undertake a full analysis of geochemical assays associated with the pegmatites and work to better understand them and the mineral species associated with the elevated lithium grades.
The plan is for more drilling soon at Earl Grey East, and to assess the rest of its collection of untested lithium in soil anomalies for the next campaign at Mt Holland.
Project map showing drill hole locations.
$0.005Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
