Join our daily newsletter At The Bell to receive exclusive market insights
- Riedel Resources (RIE) has commenced a reverse circulation (RC) drilling program at the Kingman gold project in Arizona
- The company has once again engaged Boart Longyear to conduct the drilling after it completed over 9000 metres of drilling for Riedel in 2021
- Drilling is targeting the Tintic area which previously returned multiple high grades including up to 98.9 g/t gold and 151 g/t silver
- Company Chairman Michael Bohm says he’s eager to unlock the potential of this “exciting historical, but very much overlooked” mining region
- Riedel shares were trading steady at one cent
Riedel Resources (RIE) has commenced a reverse circulation (RC) drilling program at the Kingman gold project in the US state of Arizona.
Kingman is a historical project area that was predominantly mined for high-grade gold and silver between the late 1880s until the early 1940s. Since then, drilling was very limited until 2019.
Riedel Resources contracted Boart Longyear to undertake the RC program after it completed both of Riedel’s drilling programs in 2021.
The latest RC drilling program is targeting the Tintic mine area where previous drilling confirmed high-grade gold and silver assays located close to surface.
Previous high-grade assays include 3.8 metres at 98.9 grams per tonne (g/t) gold and 151 g/t silver from 20.6 metres, 4.6 metres at 12.43 g/t gold from 45 metres, and 5.3 metres at 18.1 g/t gold and 24 g/t silver from 23.6 metres.
“We are very much looking forward to following up our earlier high grade drill results at Tintic as we continue to unlock the potential of this exciting historical, but very much overlooked, mining region,” Chairman Michael Bohm said.
The company expects to receive the first assay results from the program in June, subject to lab turnaround times.
The Kingman project is in north-west Arizona, about 90 minutes’ drive from downtown Las Vegas.
Riedel shares were trading steady at one cent at 1:56 pm AEDT.
