Riversgold (ASX:RGL) is continuing exploration at the Saint John Project in New Brunswick, Canada, after receiving drilling approvals.
A maiden drilling program will be considered later in 2025, once further targets have been generated from ongoing activities. Situated in a tier-one mining jurisdiction known for its rich mineral potential, the project presents an exploration target for “high-grade” copper, gold, antimony, and silver.
This news comes after Riversgold received data from a recent drone magnetic survey from the Little Lepreau prospect within Saint John, and rock chip results confirmed the “high-grade” tenor of mineralisation over a substantial footprint within the 101km2 landholding.
The rock chip results returned up to 17.6% copper, 67.2 grams per tonne gold, 1,600g/t silver, and 10.8% antimony.
Exploration Director Ed Mead says Saint John is a key focus for the company due to the alteration and mineralisation viewed in the geology, as well as the opportunities for the related iron-oxide copper-gold and porphyry models Riversgold is targeting.
“Mineralisation to date can be considered a significant discovery, in this previously unexplored area of Canada that has excellent infrastructure and is only 50km from the US border,” Mead says.
“A mobile magnetotellurics drone survey over the Little Lepreau area is being refined, which will also add to drill targeting refinement and target ranking.”
The company’s geologists are onsite focusing on areas of interest, with a geochemical sampling program being planned.
Further, a geochemical survey is also being planned to test the many new targets identified. These priority areas are located immediately adjacent to the Little Lepreau Roadside Quarry.
Riversgold is a mineral explorer focused on copper and gold discoveries. The company’s portfolio is also considered prospective for lithium, uranium, and iron ore.
Write to Aaliyah Rogan at Mining.com.au
Images: Riversgold
