RIEDEL RESOURCES LIMITED `
20 January 2022
only | RIEDEL CONFIRMS BROAD ZONE OF SHALLOW GOLD & SILVER | |
MINERALISATION AT THE KINGMAN PROJECT | ||
MULTIPLE HIGH-GRADE ASSAYS AGAIN REPORTED | ||
Highlights: | ||
use | • Results for remaining RC holes at Riedel's Kingman Gold Project in Arizona return shallow high- | |
personal | grade assays at Tintic, in addition to high-grade results previously reported | |
• Standout results received in this final batch of assay results (all Tintic) include: | ||
▪ 3.8m @ 11.64 g/t Au from 30.5m | ||
including- 0.8m @ 41.87 g/t Au from 32m (hole 2021-CHL-071) | ||
▪ 4.6m @ 12.43 g/t Au from 45m | ||
including- 1.5m @ 35.26 g/t Au from 45.7m (hole 2021-CHL-075A) | ||
▪ 6.9m @ 2.84 g/t Au & 82 g/t Ag from 18.3m | ||
including- 2.3m @ 6.19 g/t Au & 149 g/t Ag from 21.3m (hole 2021-CHL-048) | ||
▪ 2.3m @ 5.40 g/t Au & 125 g/t Ag from 77m (hole 2021-CHL-084A) | ||
▪ 2.3m @ 3.35 g/t Au from 44.2m | ||
including- 0.8m @ 7.57 g/t Au from 44.2m (hole 2021-CHL-075C) | ||
For | ▪ 1.5m @ 4.36 g/t Au, 84 g/t Ag, 2.0% Pb & 3% Zn from 74.7m (2021-CHL-051) | |
▪ 1.5m @ 3.52 g/t Au from 22.1m (hole 2021-CHL-071B) | ||
▪ 1.5m @ 1.67 g/t Au, 205 g/t Ag, 3.2% Pb & 2.7% Zn from 48.8m (2021-CHL-066) | ||
• Gold and silver mineralisation confirmed over ~600m long and up to 200m wide zone at Tintic | ||
• Very high percentage of holes drilled at Tintic intersected gold and silver at shallow depths | ||
• Drill rig anticipated to re-mobilise in late-February/early-March (subject to permitting) to continue to target shallow high-grade zones at Tintic
• Riedel plans to commence preliminary metallurgical testwork in 2022
Page 1
Riedel Resources Limited (ASX:RIE, "Riedel" or "the Company") is pleased to announce assay results from a reverse circulation (RC) drill program at its Kingman Project in Arizona, USA, have continued to identify high grade zones of mineralisation.
Riedel's drill program primarily focussed on the historic Tintic mine area (refer Figure 1), where mining occurred in the late 1800's and early 1900's and where drilling in early 2021 intersected multiple high- grade veins1.
onlyIn summary, the latest 2021 drill program returned numerous high-grade gold and silver intersections at Tintic (many from very shallow depths). Highlights of the 48-hole (4,190m) program, incorporating the final batch of assays noted above, include²:
▪ 5.3m @ 18.12 g/t gold & 24 g/t silver from 23.6m | |
including- 1.5m @ 42.3 g/t gold and 27 g/t silver from 24.4m (hole 2021-CHL-090) | |
use | ▪ 1.5m @ 35.65 g/t gold & 42 g/t silver from 30.5m (hole 2021-CHL-089) |
▪ 4.6m @ 12.43 g/t Au from 45m | |
including- 1.5m @ 35.26 g/t Au from 45.7m (hole 2021-CHL-075A) | |
▪ 3.8m @ 11.64 g/t Au from 30.5m | |
including- 0.8m @ 41.87 g/t Au from 32m (hole 2021-CHL-071) | |
▪ 2.3m @ 9.49 g/t gold & 55 g/t silver from 13.7m | |
personal | including- 1.5m @ 12.5 g/t gold and 48 g/t silver from 24.4m (hole 2021-CHL-080A) |
▪ 6.9m @ 3.1 g/t gold from 25.9m | |
including- 1.5m @ 7.9 g/t gold from 31.3m (hole 2021-CHL-074) | |
▪ 6.9m @ 2.84 g/t Au & 82 g/t Ag from 18.3m | |
including- 2.3m @ 6.19 g/t Au & 149 g/t Ag from 21.3m (hole 2021-CHL-048) | |
▪ 3m @ 3.21 g/t gold from 102.1m | |
including- 1.5m @ 5.09 g/t gold & 10 g/t silver from 102.1m (hole 2021-CHL-077A) | |
▪ 2.3m @ 5.40 g/t Au & 125 g/t Ag from 77m (hole 2021-CHL-084A) | |
▪ 1.5m @ 5.10 g/t gold & 31 g/t silver from 28.2m | |
including- 0.8m @ 8.00 g/t gold & 20 g/t silver from 28.2m (hole 2021-CHL-092B) | |
▪ 5.3m @ 3.59 g/t Au & 96 g/t Ag from 18.3m (hole 2021-CHL-048) | |
▪ 2.3m @ 3.43 g/t gold & 24 g/t silver from 13.7m | |
For | including- 0.8m @ 7.55 g/t gold & 40 g/t silver from 13.7m (hole 2021-CHL-092) |
▪ 2.3m @ 3.35 g/t Au from 44.2m | |
including- 0.8m @ 7.57 g/t Au from 44.2m (hole 2021-CHL-075C) | |
▪ 1.5m @ 5.22 g/t gold & 82 g/t silver from 25.1m (hole 2021-CHL-089) | |
▪ 1.5m @ 5.32 g/t gold & 45 g/t silver from 23.6m (hole 2021-CHL-090A) | |
▪ 1.5m @ 3.52 g/t Au from 22.1m (hole 2021-CHL-071B) | |
▪ 1.5m @ 4.36 g/t Au & 84 g/t Ag from 74.7m (hole 2021-CHL-051) | |
▪ 1.5m @ 1.67 g/t Au & 205 g/t Ag from 48.8m (hole 2021-CHL-066) |
1 Refer ASX announcement dated 23 March 2021. The Company confirms it is not aware of any new information or data that materially affects the information included in the announcement.
² Refer ASX announcement dated 9 December 2021 in addition to this announcement.
Page 2
As previously reported, the gold and silver mineralisation at Tintic appears to be contained within shallow flat dipping veins which comprise of varying amounts of quartz, clay and sulphide mineralisation (refer cross sections). There is also continued indication of a stacked lode/sill complex given what is being seen by our geologists in the drill logs and assay results. The shallow depth of the intersected mineralisation lends itself to the future potential for open pit mining methods, the opportunity for which
onlyRiedel will investigate during 2022. Riedel Chairman Michael Bohm stated:
"The key themes at Tintic are high grades, shallow depths and what appears to be geological consistency in the area drilled to date. We have to keep reminding ourselves that this is an exploration program, as the strike rate of drill holes intersecting shallow gold and silver mineralisation has been outstanding.
"At Tintic, we appear to have drilled a shallow blanket of mineralisation - some of which is of very high- grade - extending over a broad area. Even at this early stage, it is approximately 600m long and up to
use200m wide in places - and that is just the area we have focussed our drilling on to date. "Mineralisation appears to be open in several directions and drilling has confirmed it occurs in more than one zone. The potential exists for both lateral and depth extensions to the already broad zone identified.
"The gold and silver grades achieved, along with the shallow depths of the mineralised intercepts, lends itself to the potential for rapid and cost-effective advancement of drilling and exploration activities toward a potential mineral resource estimation. Further, the shallow depths point to the potential for future
exploitation by open pit mining.
personal"We will focus our attention on drilling and scoping some preliminary metallurgical testwork over the coming months, as well as identifying potential processing opportunities available in the region."
Riedel is assessing the latest results, with geological modelling to assist drill targeting. Subject to permitting and rig availability, the RC drill rig is scheduled to re-mobilise back to site in late February or early March 2022.
The location of the Tintic holes is shown in Figure 1.
For
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For personal use only
Figure 1 - showing collar locations from the RC drill programs over the historic Tintic mine area in late-2021
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For personal use only
Figure 2 - Tintic Cross Section C-C'
Figure 3 - Tintic Cross Section B-B'
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Riedel Resources Limited published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 22:25:09 UTC.
