- Riedel Resources (RIE) has started a reverse circulation (RC) drilling program on the Kingman gold project in Arizona
- The company has re-engaged Boart Longyear to carry out the drilling after completing over 9,000 meters of drilling for Riedel in 2021
- Drilling targets the Tintic zone which had previously produced several 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 ‘historic, but very overlooked’ mining region
- Riedel shares regularly traded at one cent
Riedel Resources (RIE) has started a reverse circulation (RC) drilling program on the Kingman gold project in the US state of Arizona.
Kingman is an historic project area that was mined primarily for high-grade gold and silver between the late 1880s and early 1940s. Since then drilling has been very limited until 2019.
Riedel Resources engaged Boart Longyear to undertake the RC program after completing Riedel’s two drill programs in 2021.
The latest RC drilling program targets the Tintic Mine area where previous drilling has confirmed near surface high grade gold and silver assays.
Previous high-grade assays include 3.8 meters at 98.9 grams per tonne (g/t) gold and 151 g/t silver at 20.6 meters, 4.6 meters at 12.43 g/t t of gold at 45 meters and 5.3 meters at 18.1 g/t gold. and 24 g/t silver from 23.6 meters.
“We very much look forward to following our first high-grade drill results at Tintic as we continue to unlock the potential of this exciting, yet much-neglected historic mining region,” said Chairman Michael Bohm.
The company expects to receive the first assay results from the program in June, subject to laboratory turnaround times.
The Kingman Project is located in northwestern Arizona, approximately a 90-minute drive from downtown Las Vegas.
Riedel shares were trading steadily at one cent at 1:56 p.m. AEDT.