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 Lithiums 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 Ltds Rose lithium deposit with a probable reserve of 26.3 million tonnes at 0.87% Li2O and Nemaska Lithium Ltds 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 projects potential lithium anomalies back in 2016/17.
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