Join our daily newsletter At The Bell to receive exclusive market insights
- Drilling at Riedel Resources’ (RIE) Kingman project further extends mineralisation within the historical Tintic area
- The company completed reverse circulation drilling at the Arizona-based project in April to target near-surface, high-grade gold and silver at Tintic
- Drilling has yielded more high grades of 2.98 g/t gold and 50 g/t silver over 10.7 metres and higher grades of 16.1 g/t gold, 191 g/t silver and 4.2 per cent lead over 1.5 metres
- Riedel says the shallow depth of mineralisation, including the significant gold and silver grades, supports the future potential for open-pit mining methods
- Company shares are steady at 0.9 cents at the close of trading on Monday
Riedel Resources (RIE) has received more results from reverse circulation (RC) drilling at its Kingman project in Arizona, USA.
The recently completed program targeted the historical Tintic mine area where a drilling program completed in 2021 confirmed near-surface, high-grade gold and silver assays.
Latest results include 10.7 metres at 2.98 grams per tonne (g/t) gold and 50 g/t silver from 92.2 metres, including 1.5 metres at 16.1 g/t gold, 191 g/t silver and 4.2 per cent lead from 93.7 metres.
Riedel said the new results have confirmed shallow mineralisation and continued to extend gold and silver mineralisation deeper and further to the west.
“The already large Tintic zone at the Kingman project just keeps growing every time we drill, with grades that are very encouraging. The blanket of high-grade gold and silver mineralisation is shallow, broad and appears open in several directions,” Chairman Michael Bohm said.
The shallow depth of the mineralisation, including the significant gold and silver grades seen in drilling, supports the future potential for open-pit mining methods which aligns with Riedel’s goal of advancing short-term open pit production opportunities such as Tintic.
Riedel Resources expects to receive assays from the remaining 28 holes before the end of June.
Company shares were steady at 0.9 cents at the close of trading on Monday.
