NEW DRILL TARGETS FROM FARR-JONES SOIL SAMPLING
26 November 2018NEW DRILL TARGETS FROM FARR-JONES SOIL SAMPLING New 250m long drill target highlighted between Farr-Jones and HoranSoil sampling extends North Farr-Jones target to 450m strike lengthPotential for multiple gold occurrences with a combined strike of over 2.5kmDrilling planned for various Farr-Jones and Horan targets by end of 2018Riversgold Limited (ASX: RGL, “Riversgold”) is pleased to provide an update on results from recentsoil sampling at the Farr-Jones and Horan targets, which has highlighted at least seven high prioritytargets to be drill tested.Farr-Jones and Horan are located approximately 15km northeast of Silver Lake Resources’ Randallsprocessing plant in the Eastern Goldfields region of WA and were identified by Riversgold from historicalsurface geochemical surveys completed during the late 1980’s and early 1990’s.Riversgold announced the discovery of high-grade gold mineralisation in the first two holes drilled atFarr-Jones, including 3m @ 17.8g/t Au in FJRC0001 and 4m @ 6.46g/t Au in FJRC0002 (see ASXReleases dated 2 July and 13 August 2018).Follow-up drilling intersected three zones of gold mineralisation within a single hole at the North FarrJones target whilst a strong soil anomaly at Horan is yet to be drill tested (see ASX Release dated 17October and 23 October 2018).Follow-up soil sampling has recently been completed with the aim of infilling the gap between the FarrJones and Horan targets.The new survey extended the North Farr-Jones target to approximately 450m of strike and hasidentified a new 250m long soil anomaly north of the North Farr-Jones target with a peak value of84ppb Au (Figure 1), comparable with the soil anomaly over the main Farr-Jones target, where goldmineralisation has been intersected in several drill holes over approximately 250m of strike and remainsopen.The West Horan target has also been extended with a number of results 25ppb Au and a peak value of41ppb Au.The results also appear to confirm the presence of several NE-trending faults that split the goldanomalism into 300-400m long segments.Examination of the data from the first and second programmes using multi-variant statistics shows acorrelation between Au and Ca values in the soil, typical for the southern goldfields region.When the Au values are normalised for the Ca values, the anomalies generally increase in size and atleast four additional lower-order Au in soil anomalies are observed.Riversgold’s Managing Director, Mr Allan Kelly, said the new soil results confirmed the highly prospectivenature of the Farr-Jones and Horan prospects.“The soil results highlight the potential for multiple gold occurrences over a combined strike length ofover 2.5km cross-cut by a series of NE-trending faults,” Mr Kelly said.“Apart from a single drill hole at North Farr-Jones, only the Farr-Jones target has been drill tested so far,”he added.The Company is planning the next programme of drilling which will test a number of targets at FarrJones and Horan by the end of the year.ASX Announcement 26 November 20181
Figure 1. Au (ppb) in soils for Farr-Jones and Horan targets, showing interpreted faults.ASX Announcement 26 November 20182
Figure 2. Ca normalised Au in soil anomalism in relation to current drilling.ASX Announcement 26 November 20183
Figure 3. Oblique view (looking NW) of soil results in relation to current drilling (grid squares 1km).Figure 4. Location of the Farr-Jones and Horan targets over GSWA regional geology(green – mafic, yellow-felsic, grey – sediments, dark blue - BIF).ASX Announcement 26 November 20184
For further information please contact:Allan KellyManaging DirectorRiversgold Limitedinfo@riversgold.com.auMichael VaughanFivemark Partners 61(0)422 602 720michael.vaughan@fivemark.com.auAbout Riversgold LimitedRiversgold listed on the ASX in October 2017 and has a portfolio of gold exploration projects within theEastern Goldfields of Western Australia, the Tintina Gold Belt in southwest Alaska, USA, and the GawlerCraton of South Australia.Riversgold’s Board has a track record of successful discovery, development and production.Competent Person StatementThe information in this document that relates to Exploration Results is based on information compiled byMr Allan Kelly, a Competent Person who is a Member of The Australian Institute of Geoscientists (AIG).Mr Kelly is the Managing Director and CEO of Riversgold Ltd. He is a full-time employee of RiversgoldLtd and holds shares and options in the Company.Mr Kelly has sufficient experience which is relevant to the style of mineralisation and type of depositunder consideration and to the activity which he is undertaking to qualify as a Competent Person asdefined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves’. Mr Kelly consents to the inclusion in this announcement of the mattersbased on this information in the form and context in which it appears. Information on historical results for the Farr-Jones target, including Table 1 information, iscontained in the Independent Geologists Report in the Riversgold Replacement Prospectusdated 11 August 2017. Information on drill results for Farr-Jones, including Table 1 information, is contained in the ASXreleases dated 2 July, 13 August, 17 October and 23 October 2018.The Company confirms that it is not aware of any new information or data that materially affects theinformation in the original market announcements, and that the form and context in which the CompetentPersons findings are presented have not been materially modified from the original marketannouncements.ASX Announcement 26 November 20185
JORC Code, 2012 Edition – Table 1Section 1 Sampling Techniques and Data – Farr-Jones/Horan soil sampling(Criteria in this section apply to all succeeding sections.)CriteriaJORC Code explanationSamplingtechniques Nature and quality of sampling (e.g. cutchannels, random chips, or specificspecialised industry standard measurementtools appropriate to the minerals underinvestigation, such as down hole gammasondes, or handheld XRF instruments, etc).These examples should not be taken aslimiting the broad meaning of sampling.Commentary Soil samples were collected over atspacings of 50m x 50m and 100m x50m. All samples were taken at aminimum depth of 10cm below surfaceto avoid transported cover. Samples were sieved onsite using an80-mesh (-177um) sieve collecting aminimum of 20g of material. Include reference to measures taken toensure sample representivity and theappropriate calibration of any measurementtools or systems used. Soil samples were submitted to Intertekin Kalgoorlie in preparation for analysis. Aspects of the determination of mineralisationthat are Material to the Public Report.All samples were forwarded to Intertek inPerth for analysis A 10g sample was subject to AquaRegia digestion with ICP-MS finishconsisting of 33 elements including Au. In cases where ‘industry standard’ work hasbeen done this would be relatively simple(e.g. ‘reverse circulation drilling was used toobtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fireassay’). In other cases more explanation maybe required, such as where there is coarsegold that has inherent sampling problems.Unusual commodities or mineralisation types(e.g. submarine nodules) may warrantdisclosure of detailed information.Drillingtechniques Drill type (e.g. core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka,sonic, etc) and details (e.g. core diameter,triple or standard tube, depth of diamond tails,face-sampling bit or other type, whether coreis oriented and if so, by what method, etc). No drilling reportedDrillsamplerecovery Method of recording and assessing core andchip sample recoveries and results assessed. No drilling reported Basic description of the samplinglocation was recorded Samples were taken with a pick andshovel and sieved to -177um using an Measures taken to maximise sample recoveryand ensure representative nature of thesamples. Whether a relationship exists betweensample recovery and grade and whethersample bias may have occurred due topreferential loss/gain of fine/coarse material.Logging Whether core and chip samples have beengeologically and geotechnically logged to alevel of detail to support appropriate MineralResource estimation, mining studies andmetallurgical studies. Whether logging is qualitative or quantitativein nature. Core (or costean, channel, etc)photography. The total length and percentage of therelevant intersections logged.Subsampling If core, whether cut or sawn and whetherASX Announcement 26 November 20186
Criteriatechniquesand samplepreparationJORC Code explanationquarter, half or all core taken. VerificationofsamplingandassayingLocation ofdata pointsIf non-core, whether riffled, tubesampled, rotary split, etc and whethersampled wet or dry.80 mesh sieve obtaining a minimum of a20g sample. Samplers were trained in best practicetechniques including: avoidingcontamination by cleaning samplingequipment between samples, avoidcross contamination by removingjewellery during sampling and ensuring arepresentative sample is taken by takingseveral shovel scoops from the base ofthe hole and sieving out large soilfragments. For all sample types, the nature, qualityand appropriateness of the samplepreparation technique. Quality control procedures adopted forall sub-sampling stages to maximiserepresentivity of samples. Measures taken to ensure that thesampling is representative of the in-situmaterial collected, including for instanceresults for field duplicate/second-halfsampling. Intertek adopts industry best practice toensure there is no contamination duringsample preparation. Whether sample sizes are appropriate tothe grain size of the material beingsampled.Field duplicates were collected 1 per 100samples which consisted of a secondsample from the same location. Blanks were inserted 1 per 100 samplesand standard reference material wasinserted 2 per 100 samples to monitorpotential contamination within thelaboratory Sample size was appropriate for a 10ganalysis Quality ofassay dataandlaboratorytestsCommentary The nature, quality and appropriatenessof the assaying and laboratoryprocedures used and whether thetechnique is considered partial or total. Aqua Regia is a partial digestion that isconsidered appropriate for detecting goldother pathfinder elements loosely boundin oxide material For geophysical tools, spectrometers,handheld XRF instruments, etc, theparameters used in determining theanalysis including instrument make andmodel, reading times, calibrations factorsapplied and their derivation, etc. Quality control procedures adopted theinclusion of QAQC samples includingOREAS standards (2 per 100 samples),blanks (1 per 100 samples) andduplicates (1 per 100 samples) Nature of quality control proceduresadopted (e.g. standards, blanks,duplicates, external laboratory checks)and whether acceptable levels ofaccuracy (i.e. lack of bias) and precisionhave been established.The laboratory analysed a range ofinternal and industry standards, blanksand duplicates as part of their analysis. The verification of significantintersections by either independent oralternative company personnel. No verification performed at this stage Data collected on site was monitored bya staff member and imported into a MSAccess database Assay data received from the lab isimported into a MS-Acess database andmerged with field data Samples were located using handheldGPS with an expected accuracy of /-5m All sample locations are located in MGA- The use of twinned holes. Documentation of primary data, dataentry procedures, data verification, datastorage (physical and electronic)protocols. Discuss any adjustment to assay data. Accuracy and quality of surveys used tolocate drill holes (collar and down-holesurveys), trenches, mine workings andASX Announcement 26 November 20187
CriteriaJORC Code explanationother locations used in Mineral tationof data inrelation togeologicalstructureCommentaryGDA94 Zone 51S RL’s are measured with the GPS duringthe programme and considered asufficient source of data.Data spacing for reporting of ExplorationResults. Soil samples were collected at spacingsof 50m x 50m and 100m x 50m Whether the data spacing, anddistribution is sufficient to establish thedegree of geological and gradecontinuity appropriate for the MineralResource and Ore Reserve estimationprocedure(s) and classifications applied. The data spacing and distribution is notsufficient to establish the degree ofgeological and grade continuityappropriate for Mineral Resourceestimation purposes Whether sample compositing has beenapplied. No compositing applied Whether the orientation of samplingachieves unbiased sampling of possiblestructures and the extent to which this isknown, considering the deposit type. If the relationship between the drillingorientation and the orientation of keymineralised structures is considered tohave introduced a sampling bias, thisshould be assessed and reported ifmaterial.The sampling lines were designed to beapproximately perpendicular to the strikeof the target structure as defined byprevious drilling and mapping along withthe aeromagnetic imagery Refer to previous ASX releases Specification of the grid system used. Quality and adequacy of topographiccontrol. Samplesecurity The measures taken to ensure samplesecurity. Samples were bagged in soils bagsand/or calico bags and secured in apolyweave bag with cable ties. At theconclusion of the programme thepolyweave bags were transported toIntertek Lab in Kalgoorlie, placed on apallet inside the secured facility. Thisprocess was done by a Riversgold staffmember.Audits orreviews The results of any audits or reviews ofsampling techniques and data. No audit/review completedSection 2 Reporting of Exploration Results – Farr-Jones/Horan/Venetian soil sampling(Criteria listed in the preceding section also apply to this section.)CriteriaJORC Code explanationMineraltenement andland tenurestatus Type, reference name/number, location andownership including agreements or materialissues with third parties such as jointventures, partnerships, overriding royalties,native title interests, historical sites,wilderness or national park andenvironmental settings.Commentary Farr-Jones and Horan are located onE25/541, which is 80% owned byRiversgold (Australia) Pty Ltd, a whollyowned subsidiary of Riversgold Limited Riversgold has an exploration JV withSerendipity Resources Pty Ltd (20%) Previous exploration completed in themid 1990’s (mostly) by Mt Martin, whichincluded soil sampling and one line ofRAB and RC holes The security of the tenure held at the time ofreporting along with any known impedimentsto obtaining a licence to operate in the area.Explorationdone by otherparties Acknowledgment and appraisal ofexploration by other parties.ASX Announcement 26 November 20188
CriteriaJORC Code explanationCommentaryGeology Deposit type, geological setting and style ofmineralisation. Archaean mesothermal lode goldhosted in clastic sediments (blackshale)Drill holeInformation A summary of all information material to theunderstanding of the exploration resultsincluding a tabulation of the followinginformation for all Material drill holes: Plan of all soil samples and drillingshowno easting and northing of the drill holecollaro elevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collaro dip and azimuth of the holeo down hole length and interception deptho hole length. If the exclusion of this information is justifiedon the basis that the information is notMaterial and this exclusion does not detractfrom the understanding of the report, theCompetent Person should clearly explainwhy this is the case.Dataaggregationmethods In reporting Exploration Results, weightingaveraging techniques, maximum and/orminimum grade truncations (e.g. cutting ofhigh grades) and cut-off grades are usuallyMaterial and should be stated. No aggregation applied Where aggregate intercepts incorporateshort lengths of high grade results andlonger lengths of low grade results, theprocedure used for such aggregation shouldbe stated and some typical examples ofsuch aggregations should be shown indetail. The assumptions used for any reporting ofmetal equivalent values should be clearlystated. These relationships are particularlyimportant in the reporting of ExplorationResults. If the geometry of the mineralisationwith respect to the drill hole angle isknown, its nature should be reported. If it is not known and only the downhole lengths are reported, there shouldbe a clear statement to this effect (e.g.‘down hole length, true width notknown’).Diagrams Balanced Relationshipbetweenmineralisationwidths andinterceptlengths Not known at this stageAppropriate maps and sections (withscales) and tabulations of interceptsshould be included for any significantdiscovery being reported These shouldinclude, but not be limited to a planview of drill hole collar locations andappropriate sectional views. Plan of soil sampling and drilling shownWhere comprehensive reporting of all Plan of all soil samples and drillingASX Announcement 26 November 20189
CriteriareportingJORC Code explanationExploration Results is not practicable,representative reporting of both lowand high grades and/or widths shouldbe practiced to avoid misleadingreporting of Exploration data Other exploration data, if meaningful andmaterial, should be reported including (butnot limited to): geological observations;geophysical survey results; geochemicalsurvey results; bulk samples – size andmethod of treatment; metallurgical testresults; bulk density, groundwater,geotechnical and rock characteristics;potential deleterious or contaminatingsubstances. No other relevant data at this stageFurther work The nature and scale of planned furtherwork (e.g. tests for lateral extensions ordepth extensions or large-scale step-outdrilling). Follow-up RC drilling and investigation ofother soil anomalies in the area Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and future drillingareas, provided this information is notcommercially sensitive.ASX Announcement 26 November 201810
nature of the Farr-Jones and Horan prospects. “The soil results highlight the potential for multiple gold occurrences over a combined strike length of over 2.5km cross-cut by a series of NE-trending faults,” Mr Kelly said. “Apart from a single dri ll hole at North Farr -Jones, only the F
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23 October 2018 . ASX Announcement. 23 October 2018 1 . FURTHER GOLD RESULTS FROM FARR-JONES RC drilling confirms at least three zones of gold mineralisation at Farr-Jones Gold mineralisation now intersected over 600m of strike and open at depth Follow-up soil sampling and drilling planned for Farr
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