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Riedel on track for maiden resource at Arizona gold project

Updated: Apr 19

Riedel Resources assays from South Tintic showed up to 19.4g/t gold. Credit: File

Riedel Resources is on track to post a maiden resource before the end of the year at its Kingman project in Arizona after positive gold and silver results from infill drilling at its South Tintic prospect.

One hole recorded a 0.76m hit grading 19.4 grams per tonne gold and 18g/t silver from 54m, with a second deeper 2.28m section going 5.32g/t gold and 21g/t silver from 70.87m. Additional highlights show a 1.52m intercept grading 13.8g/t gold, 223g/t silver, 4.6 per cent lead and 0.56 per cent zinc from 67m, while another hole revealed a 4.57m segment at 3.54g/t gold, 151g/t silver, 2.04 per cent lead and 1.61 per cent zinc.

Management says mineralisation remains open to the west, down-dip to the east and open along about 1.3km of strike to the south-east towards its Jim’s prospect. The latest figures follow assay results from infill drilling at Tintic North reported late last month, with a 4.57m hit at 25.7g/t gold, 55g/t silver, 1.29 per cent lead and 0.73 per cent zinc from just 11.43m.

Riedel has completed 52 holes for about 4100m of infill drilling at Kingman and the latest campaign is expected to be wrapped up this month.

The company says Tintic is the biggest gold zone in the Kingman operation and has been defined to 700m long and up to 250m in width, with most mineralisation within 60m of the surface. Previous drilling returned impressive shallow results including a 3.8m hit at a whopping 98.9g/t gold and 151g/t silver from just 20.6m.

Results within holes RC23TT017 (i.e. 0.76m @ 19.4g/t Au from 54.1m and 2.28m @ 5.32g/t Au from 70.87m) and RC23TT023 (1.52m @c 13.8g/t Au and 223g/t Ag from 67m) signify high-grade mineralisation remains open up-dip to the east, with thicker intersections identified in the central zone of the lode (RC23TT029 and RC23TT030) adding strong confidence to the position and continuity of mineralisation, which also remains open down-dip. Riedel Resources chief executive officer David Groombridge

Kingman sits about 90 minutes south of Las Vegas, in an area mined for high-grade gold and silver from the 1880s until the onset of World War II. However, it has experienced only limited exploration and drilling since – some in the 1990s and some three years ago when 11 diamond drill holes intersected high-grade zones of gold, silver and lead from shallow depths.

Riedel picked up the project through an earn-in agreement with Flagstaff USA in October, 2020. It almost immediately got to work by drilling 104 RC holes in 2021 at the Tintic, Merrimac, Arizona Magma and Jim’s historic mines.

Geologically, Kingman lies on the south-eastern extensions of the fertile Walker Lane gold trend that runs along Nevada’s southern border with California and sits parallel to the famed Carlin and Battle Mountain gold trends further to the north.

The Walker Lake trend has proven a mecca for gold discoveries in the past decade. Corvus Gold’s unearthing of the Mother Lode and North Bullfrog gold deposits catapulted that company’s market capitalisation to more than C$474 million (AU$533.3 million).

While Arizona rose to prominence as a silver producer and more recently for its vast copper reserves, Riedel could be well on track to uncovering the next significant gold resource at its Kingman project.

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