Riversgold Ltd's Northern Zone gold project is capturing attention as gold prices continue to rise, with chairman David Lenigas projecting prices could reach approximately A$4,000 an ounce. Located near the mining hub of Kalgoorlie, the project boasts an exploration target of 2.8 to 4.5 million ounces of gold, drawing comparisons to Saturn Metals' Apollo Hills project due to similar geological characteristics and impressive metallurgy results showing 92% recovery rates.
The company is making strides towards establishing JORC-compliant mineral resource estimates, with ongoing drilling efforts to validate the geological model. These efforts have already confirmed the model's accuracy up to 450 metres in depth, underscoring the project's potential. Lenigas highlighted the current favourable market conditions, attributing the gold price surge to a notable increase in central bank purchases. This trend, he argues, is likely to lead to a revaluation of junior gold companies, positioning Riversgold Ltd advantageously in the sector.
For more information on the impact of central bank gold purchases on market prices, visit https://www.gold.org. The Northern Zone project's progress and the broader implications of rising gold prices underscore the strategic importance of Riversgold Ltd's endeavors in the current economic climate.
