Boart-Longyear Contracted For RC Programme In Arizona
Riedel Resources Limited(ASX: RIE) is preparing to commence drilling at the high-grade Kingman Gold-Silver Project in Arizona, USA later this month following its receipt of drill permits.
Riedel have appointed experienced drilling contractor Boart-Longyear to undertake the reverse-circulation (RC) drilling programme over a six-week period. Boart-Longyear has extensive drilling experience in the United States.
The 5,000m RC programme will test a number of areas where high-grade gold and silver was mined from the 1880s to the 1940s and where high gold and silver grades were intersected at shallow depths in a 2019 diamond drill programme.
Chairman, Michael Bohm, said Riedel anticipates drilling will commence late-January, subject to rig mobilisation, with first assay results anticipated in late-March subject to sample turn-around time.
“We are looking forward to commencing our 5,000m RC drilling program in Arizona in the coming weeks,” Mr Bohm said.
“As previously advised, the drill campaign will primarily focus on our high priority targets at Arizona- Magma, Merrimac and Tintic, where high gold and silver grades were mined historically and intersected in 2019. We will also drill-test Jim’s, where we have a shallow geophysical target close to an old shaft.
“The Kingman Project has a large footprint covering a historic mineral field that has seen very little modern exploration, despite the historic mining of high grades on the property.”
Riedel completed a formal agreement to acquire up to an 80% interest in Flagstaff Minerals USA (Inc), the holder of rights to the Kingman Project last month. It also recently completed an A$2 million Placement to fund exploration.
