- Riedel Resources (RIE) has found new geophysical anomalies at the Kingman Gold Project in Arizona, U.S.
- Following a ground magnetic survey, the company found two new anomalies in the underexplored southern section of the project
- These anomalies are coincident with high-grade gold, silver zinc and lead mineralisation
- RIE has also expanded its footprint at Kingman by 50 per cent, staking block to the south and east
- On the market this afternoon, Riedel is down 8.70 per cent and is trading at 2.1 cents per share
Riedel Resources (RIE) has found new geophysical anomalies at the Kingman Gold Project in Arizona, U.S.
Following its maiden drilling program last month, Riedel undertook a ground magnetic survey which found two new anomalies in the underexplored southern section of the project.
These anomalies are coincident with high-grade gold, silver zinc and lead mineralisation.
Notably, the anomalies are also similar to the Tintic and Jim’s mine areas, where drilling confirmed high-grade gold, silver and zinc intercepts.
Previous high-grade drill results include 3.8 metres at 98.8 g/t gold and 151 g/t silver from 20.6 metres and 1.5 metres at 39.3 g/t gold and 323 g/t silver from 37.3 metres.
“Identifying these two new geophysical anomalies at the Kingman Project is an exciting development which further adds to the opportunity we see at the project in Arizona,” Chairman Michael Bohm said.
“We are also very pleased to confirm the polymetallic nature of mineralisation occurring across multiple veins at the historic Jim’s mine area,” he said.
Riedel plans to focus on the 700 metre long Tintic target, which remains open at depth and to the south.
“During the second half of 2021 our team will have a particular focus on the potential for down-dip and strike extensions to the mineralisation seen at Tintic, given the extraordinary high-grade assay results achieved there,” Michael concluded.
RIE has also announced it has expanded its footprint at Kingman by 50 per cent, staking blocks to the south and east.
On the market this afternoon, Riedel is down 8.70 per cent and is trading at 2.1 cents per share at 12:09 pm AEST.