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Riedel Resources revs up rigs in Arizona gold hunt

Updated: Apr 19


Riedel Resources has kicked off a 7000m RC campaign at its Kingman gold project in Arizona. Credit: File

Riedel Resources has unleashed the drill rigs at its Kingman gold project in Arizona to define a mineral resource at the company’s Tintic prospect, in addition to targeting extensions to the north and south.


The prospect has defined mineralisation in about a 600m patch, with previous drilling returning some 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 Tintic 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.


The company recently pocketed $2.5 million from an equity raising to fund its drill campaign and also expects additional funds to jump in from a share purchase plan due to close next week.


Drilling is designed to infill and expand the current extents of mineralisation with results to deliver a maiden Mineral Resource Estimate by end of 2023. Drilling will also test extensions to the high grade Tintic structure, both north and south, with several exciting targets. Riedel Resources chief executive officer David Groombridge

The Kingman site 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 drilled 104 reverse-circulation (RC) holes in 2021 at the Tintic, Merrimac, Arizona Magma and Jim’s historic mines.


It confirmed shallow high-grade gold and silver at Tintic and highlighted a 1.8km-long gold, silver, zinc and lead exploration target at Jim’s mine. Early last year, the explorer sunk 37 drill holes for 2286m of drilling and finished the program in April.


The campaign was the company’s third at Kingman in the past year. In an impressive burst of activity last year, Riedel covered almost 10,000m of RC drilling through more than 100 drillholes. In November, it began a 20-hole diamond program to target shallow high-grade intercepts from earlier RC exploration, with a focus on extensions at depth.


With the latest campaign expected to be wrapped by the end of August, along with first assay results, the market will be keeping a close eye on whether Riedel can repeat the exceptional high-grade gold hits it has already revealed at Tintic.



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