Riedel Resources (ASX:RIE) is set to begin a 7,000m reverse circulation (RC) drilling program in early June 2023 at its Kingman Gold Project in Arizona, US.
The drilling program will be carried out by contract driller Harris Exploration as Riedel works towards a maiden Mineral Resource Estimate (MRE) for the project by the end of 2023.
Riedel says the program will be targeting the Tintic prospect and will test the 1km strike to the Jim’s prospect. The company adds that the first batch of assay results is expected to be returned in August 2023.
Additionally, the company is set to advance resource drilling at the project following a $2.5 million placement.
Commenting on this upcoming activity, Riedel Resources Chief Executive Officer (CEO) David Groombridge says: “Outstanding results from our 2022 diamond drill program at Kingman confirmed the position, orientation, and character of the high-grade mineralisation at Tintic, which remains open in all directions, including an additional 900m of strike untested between Tintic and Jim’s.
Our recent equity raising gives Riedel the opportunity to continue advancing the project, and with Harris Exploration arriving in early June 2023 with its team’s highly valued technical experience, we are eagerly looking forward to proving and extending the high-grade mineralisation at Tintic.
“A consistent flow of drilling results from the 7,000m program will be returned over the next 6 months as we progress towards a maiden MRE by the end of 2023″
A consistent flow of drilling results from the 7,000m program will be returned over the next 6 months as we progress towards a maiden MRE by the end of 2023.
Regional exploration targeting growth at the project will ramp up through a ground magnetics survey in June-July 2023, which will advance our understanding of the geological model and assist with targeting new prospects for drilling.”
Riedel Resources is an emerging mineral exploration company focused on advancing its historical ‘high-grade’ Kingman Gold Project, located in northwest Arizona, US. The project covers an area of historical gold-silver-lead-zinc mines that were in production from the 1880s through to the early 1940s.
Write to Aaliyah Rogan at Mining.com.au
Images: Riedel Resources Ltd
