• Rock chip sampling at Riedel Resources’ Kingman project returns up to 678g/t silver at the Calico Silver prospect
  • Prospect consists of several historical workings but has not been subject to modern exploration
  • Company still focused on delivering maiden resource at the Tintic deposit
  • Reconnaissance mapping and rock chip sampling to be carried out over entire Kingman area in 2024

 

Special Report: Riedel Resources (ASX:RIE) has uncovered a highly prospective new target area at its Kingman project in Arizona after rock chip sampling at the Calico Silver prospect returned high-grade assays of up to 678g/t silver.

The Kingman project area was mined predominantly for high-grade gold and silver from the 1880s until the early 1940s.

Exploration in the modern era commenced in late 2019 when Riedel Resources (ASX:RIE) commenced an 11-hole diamond program targeting shallow, high grade gold-silver epithermal style mineralisation.

To date a total of 240 drill holes for ~18,000m have been completed across the Project with a 5,000m resource infill drilling program in 2023 at the Tintic deposit returning shallow hits topping out at 1.52m at 13.8 grams per tonne (g/t) gold, 223g/t silver, 4.6% lead and 0.56% zine from 67.06m.

While Tintic is undoubtedly the primary focus at the Kingman project, it is by no means the only prospect.

 

‘Immense potential’ of Kingman

This has now been proved by the rock chip sampling at Calico Silver in the northern area of the current claim package returning high-grade silver including 678 grams per tonne (g/t) silver and 0.07g/t gold as well as 58g/t silver, 0.27g/t gold and 0.11% zinc.

 

The Calico Silver and other prospects within RIE’s Kingman project. Pic: Supplied (RIE).

 

Calico Silver consists of several historical workings trending east-west and dipping sub-vertically that are hosted within the same Proterozoic gneiss unit as the Tintic deposit.

No modern exploration has been carried out at prospect.

“I am thrilled to share the remarkable high-grade silver results from rock chip sampling at the Calico Silver prospect which has uncovered a highly prospective new target area for the company,” chief executive officer David Groombridge said.

“The exceptionally high silver content discovered in these samples demonstrates the immense potential of the Kingman project and that the mineral system is now demonstrably larger, with multiple high-grade mineralised trends that are untouched by modern exploration methods.

“Our team is excited to accelerate work at Calico in 2024 and we remain committed to unlocking further value for our stakeholders through continued exploration and diligent analysis.”

 

Upcoming activity

Groombridge notes that the company remains focused on delivering a resource estimate for Tintic by the end of 2023.

With flora, fauna, and cultural surveys already completed and detailed metallurgical test work underway, the resource will underpin a preliminary economic study paving the way for the submission of mining permitting with relevant authorities in Q2 2024.

RIE is also planning a reconnaissance exploration program consisting of geological mapping and rock chip sampling for 2024 across the entire Kingman project area.

This will incorporate reconnaissance geology mapping and sampling at Calico Silver to establish the continuation of the structure to the east and west.

Targets identified will undergo detailed work programs that will culminate in drill permitting with the Bureau of Land Management with drilling of priority targets to occur in 2024.

This is expected to generate a complete project pipeline that will be continually assessed with the objective of adding resources to Kingman.

 

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.

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