Riedel Resources Limited (ASX:RIE) has identified shallow, high-grade gold in the first assay results from a 23-hole diamond drill programme completed at its Kingman Project in Arizona during 4Q CY2022.
Multiple high-grade gold results seen in shallow holes 2022-KNG-017A, 017B and 017C confirm and complement the previous high-grade RC drill assay results achieved in 2022. The mineralization at this location at Tintic is approximately 150m in width (to date) and is close to surface across each drill hole intercept on the section.
The exceptional result of 0.37m @122.6g/t Au, 172g/t Ag and 3.7% Pb from 67.4m seen in hole 2022-KNG-021B, supports the high-grade intercept seen in RC hole 2022-CHL-075D which returned 3.8m @18.1gt/ Au and 201g/t Ag including 1.5m @38g/t Au and 492g/t Ag.
In addition to the high gold grades, the silver and lead suite of grades appear significantly elevated.
“These first assay results from recent diamond drilling again demonstrate that the mineralization at Tintic commences at very shallow depths, is flat lying, and appears to be of exceptional grade. This ‘blanket’ of high-grade gold, silver and lead mineralization lies just below the surface at Tintic,” Chairman Michael Bohm said.
“I would be excited if these grades were achieved for an underground mining target, but the mineralization at Tintic starts within 10m to 15m of surface. To date the mineralisation appears up to 150m in width and, at this time, the Tintic zone appears to be approximately 600m in length.
“In addition, holes 075D and 021B sit on the south-west boundary of our mineralized envelope at Tintic and having two holes both hitting very high grade speaks to the potential for extensions to the high- grade mineralization.
“We will await the assay results for the remaining diamond drill holes over the next six to eight weeks and consider the next steps when all results are to hand. Our goal remains to progress Tintic toward a development decision point as soon as possible.
“The nature of the mineralization, both in grade and depth, lends itself toward an RC drill program potentially commencing next quarter. We see this being the catalyst for a Mineral Resource estimate before year-end, with metallurgical testwork and base-line environmental work also being important components of our work in Arizona in 2023.”
Kingman Project Background
The Kingman Project is located in north-west Arizona, USA, approximately 90 minutes’ drive from downtown Las Vegas and within 5km of a major highway.
The project 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, confirming the extensive mineralization potential of the area.
During 2021, Riedel completed 9,420m of RC drilling (104 holes) over several historic mine areas on the property, including at Tintic, Merrimac, Arizona-Magma and Jim’s. This drilling returned high-grade assay results including 3.8m at 98.9g/t gold and 151g/t silver from 20.6m at Tintic.
In addition, it confirmed a 1.8km long exploration target associated with the historic Jim’s mine to host significant gold, silver, zinc and lead mineralization as shallow as 1.5m below surface.
The Kingman Project has seen minimal modern exploration. Riedel’s recent RC drill programme completed in April 2022 was its third at Kingman, where it is looking to acquire up to an 80% interest in via its December 2020 Agreement with Flagstaff Minerals Limited and Flagstaff Minerals (USA) Inc.
For further information please visit: https://www.riedelresources.com.au/