The foundational asset portfolio of Riversgold (ASX:RGL) is set to increase by 20% at its Kalgoorlie Gold Project, 25km east of Kalgoorlie in Western Australia.
The project tenement package will expand, following the gold explorer’s new binding agreement to become the sole legal and beneficial owner of the neighbouring P25/2850 granted tenement.
The new area shares a common border north of the company’s porphyry gold project. With this extension, the overall project size increases from 8.36km² to 10.22km².
The land will provide “important space” for key infrastructure, including a potential waste dump, processing facility, and extra transport route link sites.
The space is also promised to jointly benefit Northern Zone intrusive hosted gold project partners Oracle Power PLC (LON:ORCP) and MEGA Resources.
“This deal, like our previous deal announced on 20th April, continues to increase our overall tenement footprint in the immediate Northern Zone project area,” Technical Director Ed Mead says.
“There is excellent potential to identify additional gold targets on this new ground, and we look forward to exploring the tenement in the coming months.”
Riversgold is a gold exploration company with assets mainly in Australia and Canada.
Write to Richard Szabo at Mining.com.au
Images: Riversgold
