공시 • Jul 15
Riedel Resources Limited Provides Update on Kingman Project in Arizona
Riedel Resources Limited announced the remaining gold & silver assay results from a First Quarter RC drill program at its Kingman Project in Arizona. The high-grade results above further add to the results achieved in numerous holes drilled in the 2022 program and continue to demonstrate the shallow, high-grade nature of gold and silver mineralisation at Tintic. Results from Riedel's latest and final batch of assays received from Tintic include: 1.5m @ 27.5 g/t Au and 37 g/t Ag from 13.7m (2022-CHL-008B), incl 0.8m @ 53.3 g/t Au and 63 g/t Ag from 13.7m, 1.5m @ 1.72 g/t Au and 24 g/t Ag from 13.7m (2022-CHL-008A), incl 0.8m @ 2.53 g/t Au and 17 g/t Ag from 14.5m, 3.0m @ 5.05 g/t Au and 58 g/t Ag from 27.4m (2022-CHL-096), incl 1.5m @ 9.37 g/t Au, 112g/t Ag, 2.4% Pb and 2.2% Zn from 27.4m, 3.0m @ 2.53 g/t Au and 13 g/t Ag from 12.2m (2022-CHL-097A), incl 1.5m @ 4.07 g/t Au and 18 g/t Ag from 12.2m, 1.5m @ 6.77 g/t Au and 23 g/t Ag from 11.4m (2022-CHL-097), incl 0.8m @ 11.47 g/t Au and 35 g/t Ag from 11.4m, 2.3m @ 2.62 g/t Au and 21 g/t Ag from 46.5m (2022-CHL-075E), incl 0.8m @ 6.16 g/t Au and 42 g/t Ag from 46.5.5m, 1.5m @ 5.79 g/t Au and 11 g/t Ag from 13m (2022-CHL-003B), incl 0.8m @ 10.67 g/t Au and 15 g/t Ag from 13m. As previously reported, the mineralisation at Tintic appears to be contained within shallow, flat-dipping veins which comprise of varying amounts of quartz, clay and sulphide mineralisation. There are also indications of a stacked lode/sill complex in the drilling and assay results. The shallow depth of the intersected mineralisation, including the significant gold and silver grades seen in drilling, lends itself to the future potential for open-pit mining methods. 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 mineralisation 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 (Plate 2) 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 mineralisation as shallow as 1.5m below surface. The Kingman Project has seen minimal modern exploration. Riedel's recent RC drill program 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.