Mega Resources30 Sep 2025 11:48
Australian mining, engineering and geology company MEGA Resources has signed a right to mine and co-operation agreement with ASX-listed Riversgold Limited (ASX: RGL). MEGA Resources will take full management and funding responsibility for the project, operating it on behalf of Riversgold under a profit share agreement.
RC and aircore drilling at the project have delivered notable intercepts, including 18m @ 4.14g/t Au , 16m @ 4.69, 10m @ 8.89g/t Au and 7m @ 3.62g/t Au with previous results grading as high as 1m @ 77.96/t Au. Recent metallurgical testwork at the project has achieved gold recoveries exceeding 90%, with confirmation of amenability to simple processing methods.
Riversgold has submitted an application to the WA Department of Mines, Petroleum and Exploration for a mining lease for the project.
MEGA Resources will provide funding to develop and mine the project, including paying for all ancillary activities (which incorporates haulage of material to the point of sale, maintenance of haul roads and processing costs). In return, any profit generated from the partnership will be split 50% to MEGA and 50% to the Northern Zone owners.
“The Northern Zone Gold Kalgoorlie Project fits nicely into our growing portfolio of projects in the Eastern Goldfields,” said Josh Conley, General Manager of MEGA Resources. “Having a pipeline of projects at different stages enables us to roll from one to the next, utilising crews and experience.”
Sign In
Follow the stocks
