Riversgold Limited (ASX:RGL) Announces Significant Copper Discovery in Canada
New Copper Discovery
Riversgold Limited (ASX: RGL) has announced significant rock chip sampling results from its Saint John project located in New Brunswick, Canada. The samples confirm high-grade mineralisation, with grades reaching up to 10.55% copper, 11.4 g/t gold, and 1600 g/t silver.
Sampling Highlights
The results come from a limited number of surface outcrops within a 25km zone of felsic intrusions. Rock samples from the Little Lepreau Prospect yielded significant results, including 5.58% Cu and >1% antimony, while the Prince of Wales Prospect returned grades of 10.55% Cu, 9.5 g/t Au, and 477 g/t Ag.
Project Overview
The Saint John Project, strategically located only 50km from the US border, spans 101 square kilometers and is situated in a Tier-1 mining jurisdiction. Riversgold has submitted applications for 2000 meters of drilling and plans to further explore this promising site with ongoing sampling and analyses.
Comments from Leadership
David Lenigas, Executive Chairman of Riversgold, stated, “Assays confirm that the Saint John Project is a significant discovery in an unexplored area. The mineralisation viewed and the project’s access make it a key focus for Riversgold. We look forward to updates from current site activities.”
Future Activities
Riversgold plans to conduct a drone magnetic survey soon and continue geological assessments within the project area. The company is also in discussions regarding further exploration initiatives to enhance its data and potential resource estimates.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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