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Riedel lands more US high-grade gold-silver

Riedel Resources has tabled more high-grade gold and silver assays from drilling of its Tintic prospect in north-west Arizona USA including 10.7m at 2.98 grams per tonne gold and 50 grams per tonne silver and 8.4m grading 2.58 grams per tonne gold and 29 grams per tonne silver.

Other headline results include 1.5m at 16.1 grams per tonne gold, 191 grams per tonne silver and 4.2 per cent lead from 93.7m downhole, up to 13.7 grams per tonne gold, 196 grams per tonne silver and 11 per cent lead was present in another 0.8m intersection.

Riedel has now delineated a mineralised zone at Tintic over 600m long and up to 250m wide. The high-grade area is shallow and varies between 10m and 80m depth. The latest results extend the mineralisation at depth and aerial extent. The company now expects to receive assay results from the remaining 28 RC dill holes before the end of June and will be looking to expand its target area even further.

The company says mineralisation at Tintic is apparently contained within shallow, flat-dipping veins that comprise of varying amounts of quartz, clay and sulphide mineralisation whilst the mineralised lodes appear to be in a stacked lode or sill complex. It believes the shallow depth of the intersected high-grade gold and silver lends itself to the future potential for open-pit mining methods.

The already large Tintic zone at the Kingman Project just keeps growing every time we drill, with grades that are very encouraging. Our goal at Kingman is two-fold – to advance short-term open pit production opportunities such as Tintic, whilst seeking to unlock the bigger picture, given the outstanding mineral endowment of the area.

Riedel’s Kingman project has recorded production from several historic mine areas on the property, including at Tintic, Merrimac, Arizona Magma and Jim’s. A 2013 report said the adjoining Mineral Park mine represented one of the largest copper reserves in the United States having estimated reserves of 389 million tonnes of ore grading 0.14 per cent copper, 0.037 per cent molybdenum and containing 31 million oz of silver.

Mineral Park is a classic copper-molybdenum porphyry deposit with the host rocks being quartz porphyry at the centre to biotite-quartz monzonite porphyry outside this, it was discovered in 1906 and first mined in 1965. Whilst Riedel have not connected the Tintic mineralisation to Mineral Park it seems geologically possible given the metal zoning that often surrounds large porphyry systems and structural corridors.

The Kingman Project area has various historic high-grade gold and silver mines dating from the period between the 1880s and early 1940s. Riedel has completed three drilling programs on the project including 11 diamond holes in 2019 that intersected multiple shallow high-grade gold, silver and lead zones. The enthusiastic Riedel also drilled 104 RC holes in 2021 at the Tintic, Merrimac, Arizona Magma and Jim’s historic mines. The programme confirmed shallow high-grade gold and silver at Tintic and a 1.8km long gold, silver, zinc and lead exploration target at Jim’s mine. The current exploration is Riedel’s third campaign at Kingman where it is working to acquire an 80 per cent interest from Flagstaff Minerals.

With Riedel working hard to prove up an open pit prospect at Tintic the results from the remaining 28 RC drill holes are eagerly awaited.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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