Riedel Resources starts drilling for gold at Kingman in Arizona
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A 7,000m reverse circulation program has kicked off at the Kingman gold project, targeting the Tintic prospect to underpin a maiden mineral resource estimate by the end of 2023.
Contract driller, Harris Exploration, has been engaged to undertake the RC drilling program which will also be carried out towards the north and south of the Tintic prospect, targeting extensions of shallow and high-grade gold mineralisation of several exciting targets.
So far, Riedel Resources (ASX:RIE) has defined mineralisation over 600m strike length, with previous drilling returning intersections located close to surface including 3.8m at 98.9g/t gold and 151g/t silver from 20.6m, as well as 1.5m at 39.3g/t gold and 323g/t silver from 37.3m.
RIE CEO David Groombridge says it is a great feeling to have drilling underway at Kingman with the team’s initial focus on drilling remaining on its most advanced and highest-grade gold and silver prospect, Tintic.
“We are fully funded to complete the drill program following our recently completed $2.5 million share placement with additional funds to come from our share purchase plan that is due to close on 13 June,” he says.
“We expect first assay results from the program in August with assay results news flow from the 7,000m drill program to continue thereafter as we progress toward our maiden MRE.”
The Kingman project in northwest Arizona, USA was mined predominantly for high-grade gold and silver from the 1880s until the early 1940s – which coincided with the outbreak of WWII.
Following limited drilling near Tintic in the 1990s, 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.
In 2021, Riedel completed more than 9,000m of RC at Tintic with another 20 diamond holes in 2022.
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.