Riversgold prepares to explore SW Alaska

North of 60 Mining News – April 20, 2018

 

Last updated 9/24/2020 at 7:30pm

Map of Riversgold Luna gold exploration project Southwest Alaska

Riversgold Ltd.

Riversgold Ltd. April 18 said it is putting together plans to accelerate drilling at gold properties in Southwest Alaska and Australia in the coming months.

"We have been working behind the scenes on advancing a number of our projects in WA (Western Australia) and South Australia, whilst also preparing ourselves for the upcoming Alaskan field season," said Allan Kelly, managing director, Riversgold. "We have also picked up some fantastic new projects in WA and Alaska and look forward to testing a number of them over the next few months."

Riversgold is a new Perth-based exploration company that listed on the Australia Stock Exchange last October.

The company owns three gold exploration properties – Luna-Quicksilver, Kisa and Gemuk – that blanket 27,122 acres of the Kuskokwim Mountains about 120 miles southwest of the Donlin Gold project.

These properties lie at the southwest end of the Tintina Gold Belt, a 125- by 750-mile gold-enriched province that arcs from northern British Columbia, through Southwest Alaska. Bounded by the Tintina-Kaltag fault on the north and the Denali-Fairwell fault systems on the south, this province includes such large gold deposits as Donlin Gold, Livengood, Fort Knox and Pogo.

Apart from the Kisa, the company said none of its Southwest Alaska gold projects have ever been drilled, despite having outcropping high-grade gold mineralization at several places over a significant strike length.

One such project, Luna-Quicksilver, is located along a 12-mile splay fault off the Tintina Gold Belt-bounding Denali-Farwell Fault.

Outcropping high-grade gold and polymetallic mineralization has been identified along this structure on the Luna, Luna East and Quicksilver properties, but has never been drilled. Rock chip samples from Quicksilver have returned up to 37.6 grams per metric ton gold and 58 g/t silver; and chip samples from Luna, about 4,500 meters southwest of Quicksilver, returned up to 64.7 g/t gold and 74 g/t silver.

Riversgold is planning to conduct an induced polarization geophysical survey, combined with surface sampling, over a roughly 5,000-meter stretch between the Luna and Quicksilver targets. The geophysical and geochemical surveys will be used to refine drill targets beneath the outcropping gold mineralization at Luna, Luna East and Quicksilver.

The company also plans to test at least one of the large magnetic anomalies adjacent to the North Fork Pluton, an area north of Quicksilver where the company sees the potential for high-grade gold-copper skarn mineralization.

In February Riversgold announced that it has staked 52 state mining claims over the Gemuk Mountain, a property about three miles northeast of Luna-Quicksilver where historic rock chip samples returned up to 100 g/t gold

The gold potential was first recognized at Gemuk during a district-wide stream sediment and rock chip sampling survey conducted by the U.S. Department of the Interior in 1970.

In 2005, the U.S. Bureau of Land Management geologists collected 13 rock chip samples at Gemuk over a roughly 450-acre area. Two clusters of samples 900 meters apart returned assays of up to 71.4, 81.7 and 98.5 g/t gold, along with anomalous silver, arsenic and high-grade stibnite.

Riversong said its proprietary aeromagnetic data shows that the high-grade rock chip samples taken at Gemuk are located on the same northeast trending structure, the North Fork Fault, that hosts outcropping high-grade gold mineralization at Quicksilver.

This outcropping gold mineralization is located along a roughly 25 miles of the North Fork structure, most of which are blanketed by Riversong held mining claims.

Riversgold said it plans to begin exploring for intrusion-related gold mineralization on its Alaskan projects during this summer and will conduct systematic geochemical and geophysical surveys over the Gemuk property with the aim of defining targets for future drill testing.

–SHANE LASLEY

 

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