The company plans to release a resource estimate for the project this year. Pic: via Getty Images.
Maiden resource incoming: Riedel finds more high-grade gold and silver at historic Kingman project
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- Infill drilling returns high-grade gold and silver assays at Kingman project
- Project was mined for gold and silver until 1940s, essentially untouched by modern exploration
- RIE has completed extensive drilling to date at Tintic prospect
- Resource on track for completion this year
Riedel Resources’ infill drilling at the Tintic prospect at its Kingman project in Arizona is delivering the goods, with assays returning more shallow high-grade gold and silver.
The Kingman project area was mined predominantly for high-grade gold and silver from the 1880s until the early 1940s.
Following limited drilling near Tintic in the 1990’s, 11 diamond holes were drilled on the property in late 2019 which intersected multiple zones of high-grade gold, silver, and lead from shallow depths, confirming the extensive mineralisation potential of the area.
In 2021, Riedel Resources (ASX:RIE) completed more than 9,000m of RC at Tintic, the largest gold zone within the project, with another 20 diamond holes in 2022.
The drill blitz has continued this year as the company works toward a late 2023 maiden resource, which former geologist and experienced stockbroker Guy Le Page says could culminate in a high grade, near surface 300Koz @ +5g/t ‘open pit mining scenario’.
Mineralisation open up and down dip
The first infill drill results for South Tintic drilling returned more shallow substantial hits including a highlight:
- 1.52m at 13.8 g/t gold, 223 g/t Ag, 4.60% lead, 0.56% zinc from 67.06m;
- 0.76m at 19.4 g/t gold, 18 g/t silver, 0.45 % lead, 0.31 % zinc from 54.1m;
- 2.28m at 5.32 g/t gold, 21 g/t silver, 0.22 % lead, 0.11 % zinc from 70.87m;
- 2.28m at 3.19 g/t gold, 17.7 g/t silver, 0.83 % lead, 0.92% zinc from 44.96m; and
- 4.57m at 3.54 g/t gold, 151 g/t silver, 2.04% lead, 1.61% zinc from 53.34m.
Results within holes RC23TT017 [0.76m @19.4g/t and 2.28m @5.32g/t] and RC23TT023 [1.52m @ 13.8g/t] signify high-grade mineralisation remains open up-dip to the east, Riedel CEO David Groombridge said.
Meanwhile, thicker intersections identified in the central zone of the lode (RC23TT029 [4.47m @3.54g/t] and RC23TT030) “add strong confidence to the position and continuity of mineralisation, which also remains open down-dip,” he said.
“Drilling is slated to conclude at Tintic in mid to late September with undrilled historical workings and conceptual targets to also be tested.”
Final assay results are scheduled to be received during October.
On track for resource estimate this year, huge regional upside remains
Phase 3 infill drilling at Tintic will be finalised mid-September with regional drilling thereafter to test the Tintic Jim’s structural trend and other priority early-stage prospects.
To date, 52 holes for ~4,100 infill RC holes have been completed on a 20m x 20m and 40m x 20m pattern to provide robust inputs to be used for the resource estimate – which remains on track for completion by the end of 2023.
This article was developed in collaboration with Riedel Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
