Riedel Resources Limited (ASX:RIE) has commenced drilling on schedule at its Kingman Project in Arizona.
The 20-hole diamond drill programme will target the shallow high-grade areas in addition to the more recent areas of high-grade extensions as seen in hole 075D.
Timberline Drilling, an experienced diamond drilling contractor familiar with the project site, is undertaking the drill programme.
“We are excited that drilling is underway at Kingman, only weeks after completing a successful A$1.5m capital raising,” Riedel Chairman Michael Bohm said.
“The ~600m long Tintic zone has returned multiple high-grade gold and silver results from shallow depths in several RC drill programmes. This diamond drill programme will greatly enhance our knowledge of the extensive zone of high-grade gold and silver mineralisation at Tintic.
“We will also build on our understanding of the mineralogy and geology and will obtain valuable core sample for metallurgical and environmental testwork. This will be an important part of designing and permitting any potential future mine development at Tintic.
“Our goal remains to advance the Kingman Project toward potential development as quickly and efficiently as possible.
“As stated previously, mineralisation at Tintic appears to be contained within shallow, flat-dipping veins which comprise of varying amounts of quartz, clay and sulphide mineralisation. There are also indications of a possible stacked lode/sill complex.
“The shallow depth of the intersected mineralisation, including the significant gold and silver grades seen in drilling, potentially lends itself to the future application of open-pit mining methods. The following cross sections illustrate some of the zones to be targeted as part of the current diamond drill programme.”
Kingman Project Background
The Kingman Project is located in north-west Arizona, USA, approximately 90 minutes’ drive from downtown Las Vegas and within 5km of a major highway.
The Kingman Project was mined predominantly for high-grade gold and silver from the 1880s until the early 1940s – which coincided with the outbreak of WWII. Following limited drilling near Tintic in the 1990s, 11 diamond holes were drilled on the property in late 2019 which intersected multiple zones of high-grade gold, silver and lead from shallow depths, confirming the extensive mineralisation potential of the area.
During 2021, Riedel completed 9,420m of RC drilling (104 holes) over several historic mine areas on the property, including at Tintic, Merrimac, Arizona-Magma and Jim’s. This drilling returned high-grade assay results including 3.8m at 98.9g/t gold and 151g/t silver from 20.6m at Tintic.
In addition, it confirmed a 1.8km long exploration target associated with the historic Jim’s mine to host significant gold, silver, zinc and lead mineralisation as shallow as 1.5m below surface.
The Kingman Project has seen minimal modern exploration. Riedel have undertaken three RC drill programs in 2021 and 2022, where it is looking to acquire up to an 80% interest in via its December 2020 Agreement with Flagstaff Minerals Limited and Flagstaff Minerals (USA) Inc.
For further information please visit: https://www.riedelresources.com.au/
