Riversgold Ltd has exercised its option to acquire an 80% interest in the Kalgoorlie Gold Project’s Northern Zone in Western Australia after meeting the required A$600,000 minimum exploration expenditure. The company has formally notified Oracle Power Plc (LON: ORCP), the current owner, in accordance with ar Heads of Agreement signed in May 2023. Exploration efforts have identified a significant blind porphyry gold system, with widths of up to 600 metres and mineralisation extending beyond 400 metres in depth. Recent shallow drilling has detected gold mineralisation from approximately 30 metres below the surface, while metallurgical testing has reported an average gold recovery of 92.9% through a 24-hour bottle roll extraction process. With the 2025 drilling program set to begin, Riversgold aims to further explore the deposit, upgrade the tenement status to a Mining Lease and evaluate its potential as a contract mining, trucking and toll milling operation. The company is focused on establishing a robust mineral resource estimate for the upper section of the porphyry to assess the feasibility of an economic starter pit. Riversgold and Oracle have extended their joint venture agreement deadline to December 31, 2025, to facilitate the Mining Lease application. A drill rig has been secured, with drilling set to commence in the coming weeks. #Riversgold #KalgoorlieGold #GoldMining #MiningExploration #WesternAustralia #GoldProject #Drilling #MineralExploration #PorphyryGold #MiningLease #ExplorationUpdate #MiningNews #Geology #GoldMineralisation