Riedel is advancing a 7,000-meter drilling campaign to find gold and silver at the Kingman Project in Arizona, and is on track for a First Resource Estimate (MRE) by the end of the year.
The object of excavation is Riedel’s Resources (ASX:RIE) A very promising Tintic lookout, open at both ends along a 600-meter strike length, as well as regional targets to the north and south.
The original Priority 1 program completed 26 RC drill holes of approximately 1900 meters. The company is looking to improve on his 3.8m @ 98.9g/t gold from 20.6m and his previous high-grade hits near the surface including 151g/t silver. Similarly, 1.5m @ 39.3g/t gold, 37.3m to 323g/t silver.
Initial assay results are expected in late July, but are subject to laboratory availability.
As explorers look for short-term project cash flow, they are focused on proving shallow resources with low capital expenditures before recognizing much larger gold and silver ore reserves. .
This round of drilling effectively provides sufficient data for MRE, building on previous high-grade results.
Riedel CEO David Gloombridge said resource drilling at Tintic is off to a strong start, with nearly half of the Priority 1 drilling completed to date and proceeding efficiently on schedule. Said he was.
“In July, drilling will proceed south of Tintik to complete the remaining Priority 1 drills before the exploration team shifts focus to some exciting early stage prospects across the project.” said Gloombridge.
“The first batch of drill samples are currently being analyzed in the laboratory, with first results expected in late July/early August.
“We are making great progress with our focus on delivering MRE on Tintic by the end of 2023.
“We look forward to providing further updates as they become available.”
This article was produced in collaboration with Stockhead advertiser Riedel Resources at the time of publication.
This article does not constitute financial product advice. Consider obtaining independent advice before making any financial decisions.
