- Riedel Resources (RIE) reports high-grade silver at its Kingman Gold Project in Arizona
- The latest assay results come from reverse circulation drilling completed throughout September and October last year with a focus on the historic Tintic mine area
- The new silver grades are in addition to the already reported gold grades, with up to 110 grams of silver per tonne
- Follow-up drilling of the Tintic targets as well as testing nearby shallow gold and silver anomalies is scheduled for March
- Company shares finished the day of trading down 8.33 per cent to 1.1 cents
Riedel Resources (RIE) has hit high-grade silver at its Kingman Gold Project in Arizona.
The latest assay results come from reverse circulation drilling completed throughout September and October last year, with a focus on the historic Tintic mine area.
The new silver grades are in addition to strong gold grades already reported from the program.
In particular, last month the company noted an intersection of 3.8 metres at 11.64 grams of gold per tonne (g/t) from 30.5 metres – as announced today, this hit also included 55 g/t silver, 1.5 per cent lead and 1.1 per cent zinc, including 0.8 metres at 41.87 g/t gold and 110 g/t silver.
While gold is the company’s main focus at Kingman, Chairman Michael Bohm said the company knew from initial drilling that Tintic also had significant silver and lead, zinc mineralisation.
“These additional high-grade assay results have confirmed what we already understood to be true at Tintic,” he said.
“The key themes remain – high-grade and shallow depths combined with what appears to be geological consistency, across a shallow blanket of high-grade gold mineralisation with substantial silver, lead and zinc grades thrown into the mix.”
Riedel believes there is potential for both lateral and depth extensions to the already broad mineralised zone, as the mineralisation appears open in several directions.
Further drilling is scheduled for March to target zones at Tintic as well as test nearby shallow gold and silver anomalies.
Company shares finished the day of trading down 8.33 per cent to 1.1 cents.