- Riedel Resources (RIE) completes its reverse circulation (RC) drill program at its Kingman gold project in Arizona on time and on budget
- The program followed up previous RC drilling in the Tintic mine area, which confirmed high-grade gold and silver intersections close to the surface
- It drilled 37 holes, for 2286 metres, with typical downhole depths ranging between 25 and 110 metres
- Samples have been submitted to the laboratory and results are expected in June
- Shares are trading 7.69 per cent lower today at 1.2 cents each
Riedel Resources (RIE) has completed its reverse circulation (RC) drill program at its Kingman gold project in Arizona on time and on budget.
The program followed up previous RC drilling in the Tintic mine area, which confirmed high-grade gold and silver intersections close to the surface.
It drilled 37 holes, for 2286 metres, with typical downhole depths ranging between 25 and 110 metres.
Samples have been submitted to the laboratory and results are expected in June.
“From drilling results to date, Tintic appears to host both shallow and high-grade gold and silver mineralisation,” Chairman Michael Bohm said.
“It is a very exciting project and, given the grades and depths seen in drilling, one that
potentially lends itself to rapid project advancement.
“We anticipate receiving all assay results from our latest program by the end of June, subject to laboratory turnaround.”
Shares were trading 7.69 per cent lower today at 1.2 cents each at market close.