Riedel Resources Limited (ASX:RIE) is scheduled to commence drilling at its Kingman gold and silver project in Arizona in early-November following the success of the recent well supported $1.5M capital raising.
Riedel’s 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 who is very familiar with the project site, will undertake the drill programme having completed the previous diamond drill program for the Project.
“We have drilled many reverse circulation holes into the ~600m long Tintic zone and achieved multiple high-grade gold and silver results from shallow depths,” Riedel Chairman Michael Bohm said,
“We have however, only four diamond drill holes at Tintic, so this upcoming diamond drill programme will greatly enhance our knowledge of this extensive zone of high-grade gold and silver mineralisation.
“In addition to grade data, we will advance our geological understanding of the mineralogy and structure at Tintic. Importantly, the programme will also provide valuable core sample for metallurgical testwork – not only of the known high-grade zones, but also of the overburden zone. This will be an important part of the permitting process, for any potential mining at Tintic, and is a process we plan to ‘kick-off’ in the new year.
“Our goal is to advance the Kingman Project toward potential development as quickly and efficiently as possible, by investigating opportunities for exploiting the shallow zones of high-grade gold and silver mineralisation at Tintic.”
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, lends itself to the future potential for open-pit mining methods.
Kingman Project Background
The Kingman Project is located in north-west Arizona, USA, approximately 90 minutes’ drive from downtown Las Vegas and within five km 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.
For further information please visit: https://www.riedelresources.com.au/
