Riversgold Ltd (ASX:RGL) CEO Julian Ford tells Proactive the company expects to be drilling next week at its Mt Holland Lithium Project. A program of works was recently approved for the maiden drilling program on tenement E77/2784, which is immediately adjacent to Covalent Lithium’s Mt Holland Lithium Project. Meanwhile RGL is also set to acquire 100% of the Abigail Lithium Project, which comprises seven lithium-prospective projects in the James Bay district in Quebec, Canada.
The strategic acquisition gives the company a foothold between Critical Element Ltd’s Rose lithium deposit with a probable reserve of 26.3 million tonnes at 0.87% Li2O and Nemaska Lithium Ltd’s Whabouchi deposit with 36.6 million tonnes at 1.3% Li2O.
The Abigail Lithium Project has excellent proximity to these significant lithium deposits, which support the prospectivity for future lithium discoveries in the region.
RGL chairman David Lenigas said: “The Abigail Lithium Project in Quebec is blessed with year-round access for exploration and the current exploration program, planned to commence in two weeks, will be managed by the same exploration team who identified the project’s potential lithium anomalies back in 2016/17.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Riversgold Ltd is an Australia-based exploration company. The Company is focused on discovering and developing large lithium systems in the Pilbara and Yilgarn cratons of Western Australia. Its projects include Pilbara Lithium Projects, Southern Cross-Marvel Loch Lithium Project, Kurnalpi Region Projects and South Australian Projects. The Pilbara Lithium Projects include Tambourah Project, Wodgina East and Upper Five Mile Creek. The Kurnalpi Project comprises 10 exploration licenses and one application. It is located between 50 kilometers (km) and 120 km east to south-east of the regional mining center town of Kalgoorlie-Boulder in the Eastern Goldfields of Western Australia. The South Australian Projects include the Churchill Dam Iron-Oxide Copper-Gold Project, which is in the Gawler Craton, approximately 20 km west of Woomera and 90 km southwest of the giant Olympic Dam deposit in South Australia. The Upper Five Mile Creek Project is located over 20 km south-east of Nullagine.