Tintic area looking south-east – with the historic mine area in the foreground. Source: Riedel Resources
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Riedel Resources (RIE) completes its reverse circulation (RC) drill program at its Kingman gold project in Arizona on time and on budget
  • The program followed up previous RC drilling in the Tintic mine area, which confirmed high-grade gold and silver intersections close to the surface
  • It drilled 37 holes, for 2286 metres, with typical downhole depths ranging between 25 and 110 metres
  • Samples have been submitted to the laboratory and results are expected in June
  • Shares are trading 7.69 per cent lower today at 1.2 cents each

Riedel Resources (RIE) has completed its reverse circulation (RC) drill program at its Kingman gold project in Arizona on time and on budget.

The program followed up previous RC drilling in the Tintic mine area, which confirmed high-grade gold and silver intersections close to the surface.

It drilled 37 holes, for 2286 metres, with typical downhole depths ranging between 25 and 110 metres.

Samples have been submitted to the laboratory and results are expected in June.

“From drilling results to date, Tintic appears to host both shallow and high-grade gold and silver mineralisation,” Chairman Michael Bohm said.

“It is a very exciting project and, given the grades and depths seen in drilling, one that
potentially lends itself to rapid project advancement.

“We anticipate receiving all assay results from our latest program by the end of June, subject to laboratory turnaround.”

Shares were trading 7.69 per cent lower today at 1.2 cents each at market close.

RIE by the numbers
More From The Market Online

Week 13 Wrap: Easter bunny delivers new all time high for ASX200

Another week, another all time high. The ASX200 clocked 7,901pts on Thursday for the first time…
The Market Online Video

Market Close: Green lights up on ASX for Easter hunt go

The ASX200 closed the day in record territory - nearly a per cent up with every…

Market shrugs as Fisher & Paykel announces mass recall

Fisher & Paykel has initiated a voluntary limited recall of batches of Airvo 1 and my…
The Market Online Video

Market Update: ASX glows red hot with another hit record

The ASX200 is trading up, hitting a new high of 7901 point and eclipsing the last…