Curated News
By: NewsRamp Editorial Staff
April 21, 2024
Riversgold's David Lenigas Discusses Potential for Northern Zone Gold Project Amid Rising Gold Price
TLDR
- Investing in Riversgold Ltd's Northern Zone gold project could provide significant advantage due to the current favorable conditions and potential for rising gold prices.
- The project aims to reach 2.8 to 4.5 million ounces of gold through continued drilling and exploration to verify the geological model.
- The success of this project could contribute to the world by adding to the global gold supply, potentially stabilizing the market and supporting economies.
- David Lenigas highlights the promising metallurgy and geological features of the project, making it an interesting and potentially lucrative investment opportunity.
Impact - Why it Matters
The potential of Riversgold's Northern Zone gold project and the impact of rising gold prices on the industry are important for investors and stakeholders. David Lenigas' insights into the favorable conditions and exploration targets provide valuable information for those interested in the mining and precious metals sector.
Summary
Riversgold Ltd chairman David Lenigas discusses the potential and progress of the company's Northern Zone gold project with Proactive's Stephen Gunnion, highlighting the current favorable conditions due to rising gold prices, with expectations that the price could reach approximately A$4,000 an ounce in the near future.
Lenigas detailed the exploration target of 2.8 to 4.5 million ounces of gold, situated near Kalgoorlie, a major mining area. He likened the project to Saturn Metals’ Apollo Hills project, with similar geological features and promising metallurgy showing 92% recovery rates. Steps towards building JORC-compliant mineral resource estimates were outlined, including continued drilling to verify the geological model, which has so far proven successful up to 450 meters in depth.
Lenigas noted a significant increase in central bank gold purchases as a key driver of the current gold price surge, which he believes will eventually lead to a revaluation of junior gold companies.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Riversgold's David Lenigas Discusses Potential for Northern Zone Gold Project Amid Rising Gold Price
