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Riedel reveals more high-grade gold in Arizona

Updated: Apr 19


Riedel Resources has recorded up to 25.7g/t gold at its Kingman project. Credit: File

Riedel Resources has unveiled impressive new results from infill drilling at its Kingman project in Arizona, including a 4.57m hit at 25.7 grams per tonne gold from just 11.43m as it works towards a maiden resource.


The latest results are from the operation’s Tintic North prospect, with the high-grade intercept also featuring 55g/t silver, 1.29 per cent lead and 0.73 per cent zinc.


Additional results include a 3.05m section grading a solid 5.97g/t gold, 9g/t silver, 0.14 per cent lead and 0.11 per cent zinc from surface, while a third hole returned a 2.28m intercept at 2.46g/t gold, 257g/t silver, 0.17 per cent lead and 0.08 per cent zinc from 63.25m.


Riedel has completed about 4000m of a 7000m reverse-circulation (RC) campaign at Kingman, with some 50 holes drilled. Results from drilling at its Tintic South prospect are expected next month.


The company has also recorded positive results from extensional drilling at the Arizona operation including 3.04m at 3.78g/t gold, 171g/t silver, 3.75 per cent lead and 0.71 per cent zinc from 44.2m, with the same hole also yielding a 1.52m hit grading 2.25g/t gold and 3.29g/t silver from 55.63m.


Drilling is continuing with another 20 to 30 holes scheduled and the company is confident of delivering a maiden mineral resource before the end of the year.

The thing that continues to impress me at Tintic is this now very broad zone of gold-silver mineralisation with numerous high-grade drill intercepts achieved over the last couple of years – such as 4.57m at 25.7g/t Au, 1.5m at 39.4g/t Au, 3.8m at 18.1g/t Au, 3.8m at 98g/t Au and 1.5m at 35.6g/t Au – with nearly all of it located within 60m of surface. Riedel Resources chief executive officer David Groombridge

The Kingman site sits about 90 minutes south of gambling mecca 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.


Tintic 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 98.9 grams per tonne gold and 151g/t silver from just 20.6m.


Additional shallow drill highlights from the prospect include 1.5m going 39.3g/t gold and 323g/t silver from 37.3m and 5.3m grading 18.1g/t gold and 24g/t silver from just 23.6m. Deeper assays also returned positive results with a 3.8m hit at 18.1g/t gold and 201g/t silver from 85.4m, in addition to 4.6m reading 8.39g/t gold and 39g/t silver from 100.6m.


Arizona is considered a prime area for mining exploration with the Fraser Institute’s latest annual survey of mining companies ranking the US State as the seventh-best jurisdiction in the world for investment attractiveness and the third best in the country.


If Riedel can continue to record high-grade results from its ongoing infill campaign it could be looking at delivering a significant maiden resource at Kingman before the end of the year – and a quick celebratory trip over to Vegas could then be on the cards.


Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

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