Riedel Resources is on track to deliver a maiden resource for its Tintic prospect at the company’s Kingman project in Arizona by the end of the year, with 26 reverse-circulation (RC) holes at the site already completed.
The gold explorer has drilled more than half of its high-priority targets at Tintic through about 1900m, ahead of a move to test potential extensions to the north and south of the prospect in an exploration campaign totalling 7000m.
The company says its first batch of drill samples are already at the laboratory for analysis with first assay results due towards the end of the month or early in August.
Tintic has defined mineralisation in about a 600m patch, with previous drilling returning some impressive shallow results including a 3.8m hit at a whopping 98.9 grams per tonne gold and 151g/t silver from just 20.6m.
Additional shallow drill highlights from the prospect include 1.5m going 39.3g/t gold and 323g/t silver from 37.3m and 5.3m grading 18.1g/t gold and 24g/t silver from just 23.6m. Deeper assays also returned positive results with a 3.8m hit at 18.1g/t gold and 201g/t silver from 85.4m, in addition to 4.6m reading 8.39g/t gold and 39g/t silver from 100.6m.
The resource drill out at Tintic has made a strong start and is progressing efficiently and on schedule with approximately half of the Priority 1 holes completed to date. We are making excellent progress with the focus on delivering a Maiden Resource Estimate at Tintic before the end of 2023. Riedel Resources chief executive officer David Groombridge
The Kingman site sits about 90 minutes south of Las Vegas, in an area mined for high-grade gold and silver from the 1880s until the onset of World War II. However, it has experienced only limited exploration and drilling since – some in the 1990s and some three years ago when 11 diamond drill holes intersected high-grade zones of gold, silver and lead from shallow depths.
Riedel picked up the project through an earn-in agreement with Flagstaff USA in October, 2020. It almost immediately got to work by drilling 104 RC holes in 2021 at the Tintic, Merrimac, Arizona Magma and Jim’s historic mines.
Geologically, Kingman lies on the south-eastern extensions of the fertile Walker Lane gold trend that runs along Nevada’s southern border with California and sits parallel to the famed Carlin and Battle Mountain gold trends further to the north.
The Walker Lake trend has proven a mecca for gold discoveries in the past decade. Corvus Gold’s unearthing of the Mother Lode and North Bullfrog gold deposits catapulted that company’s market capitalisation to more than C$474 million (AU$533.3 million).
With a focus on the Kingman project’s gold potential, Riedel recently announced the appointment of experienced geoscientist David Groombridge as its new chief executive officer. Bringing more than 20 years’ experience in the mining and resources industry, Mr Groombridge adds his vast knowledge of developing exploration projects with a particular focus on gold-dominant polymetallic orebodies.
The market will be keeping a close eye on what Riedel can unearth with its ongoing campaign at Tintic, especially if it can replicate some of the past high-grade gold and silver hits in its upcoming assay results.
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