- Riedel Resource (RIE) has successfully completed its maiden drilling program at the Kingman Project in Arizona
- Drilling contractor Boart-Longyear drilled 56 reverse circulation (RC) holes over areas of historical high-grade gold and silver mineralisation
- New results have peaked at 2.31g/t gold, 146g/t silver, 4.3 per cent zinc and 2 per cent lead
- Once all results have been received, Riedel will analyse and interpret them to plan future exploration activities
- Riedel is down 20.6 per cent on the market and shares are trading at 2.7 cents
Riedel Resource (RIE) has successfully completed its maiden drilling program at the Kingman Project in Arizona.
Drilling contractor Boart-Longyear drilled 56 reverse circulation (RC) holes, for 5230 metres, over areas of historical high-grade gold and silver mineralisation.
Riedel has received results for an additional 17 holes, bringing the total to 38. The company expects to receive results for the remaining 18 next month.
Best new results include 2.3 metres at 2.31g/t gold, 146g/t silver, 4.3 per cent zinc and 2 per cent lead from 42.7 metres.
These results confirm multiple high-grade targets across the entire project, specifically at Jim’s, Merrimac, Arizona-Magma and Tintic.
“It is very satisfying to have completed our maiden drilling program on time, on budget and with a good site safety record,” Chairman Michael Bohm commented.
“The geophysical anomaly associated with the mineralisation we see at Jim’s is at least 1.8 kilometres long and is entirely within our project footprint. These recent shallow assay results open-up a whole new target area of potential mineralisation,” he said.
“We anticipate further drill hole assay results being received in May 2021. We now have numerous high-grade drill targets across the entire project area including at Tintic, Merrimac, Arizona-Magma and Jim’s,” he added.
Once all results have been received, Riedel will analyse and interpret them to plan future exploration activities.
Riedel is down 20.6 per cent on the market and shares are trading at 2.7 cents at 11:40 am AEST.