Kingman Gold Project Drilling Targets 1,100m to Expand 64,000oz Resource
Riedel Resources has initiated a significant diamond drilling campaign at its Kingman Gold Project in Arizona, aiming to expand its high-grade gold and silver resource. The fully funded program is set to deliver initial assay results in January 2026.
- Diamond drilling program commenced targeting resource extensions
- Kingman hosts 494 kt at 4.0 g/t Au and 43.9 g/t Ag JORC Mineral Resource
- Up to 27 holes planned for ~1,100m drilling by EnerGold Drilling
- First assay results expected in January 2026
- Program fully funded with additional $1.78M entitlement offer underway
Drilling Commences at Kingman
Riedel Resources Limited (ASX – RIE) has officially started a diamond drilling program at its Kingman Gold Project, located in the historic Mohave mining district of Arizona, USA. This campaign marks a pivotal step in advancing the project, which already boasts a JORC-compliant Mineral Resource of 494,000 tonnes grading 4.0 grams per tonne gold and 43.9 grams per tonne silver, equating to approximately 64,000 ounces of gold and 689,000 ounces of silver.
The drilling program, operated by EnerGold Drilling, aims to complete up to 27 diamond holes totaling around 1,100 meters. The primary objectives include testing extensions of known high-grade, shallow oxide mineralisation to the northwest of the current resource, evaluating newly identified regional targets, infill drilling to bolster confidence in existing zones, and collecting metallurgical samples to support future processing studies.
Strategic Importance and Funding
Riedel’s board confirms that the program is fully funded from existing cash reserves, supplemented by a pro-rata non-renounceable entitlement offer to raise up to $1.78 million. This financial backing ensures uninterrupted progress through the drilling phase, expected to last about one month. The company has secured all necessary permits and will conduct operations in compliance with Bureau of Land Management and Arizona state regulations.
Chairman Scott Cuomo highlighted the strategic value of the Kingman project’s location at the convergence of two prolific mineral belts, the Southwest USA Copper Porphyry Belt and the Walker Lane Nevada Gold Belt. He emphasized the potential for value creation amid a favourable gold price environment and expressed optimism about expanding the resource and advancing technical studies.
Early Drilling Insights and Historical Context
Two holes have already been completed, including DD25TT001, which was designed to twin a historical hole and obtain metallurgical samples. Visual observations from this hole revealed approximately 2.1 meters of strongly weathered quartz breccia vein mineralisation beneath a gabbro dyke, consistent with previous high-grade intersections. However, assay results are still pending and will be critical in confirming the grade and continuity of mineralisation.
Historical drilling in the Tintic Prospect area has demonstrated significant gold and silver grades, with previous holes returning impressive intercepts such as 3.8 meters at 98.8 g/t gold and 151 g/t silver. These results underpin the confidence in the current drilling program’s targets and the potential to expand the resource base.
Looking Ahead
Investors and market watchers will be keenly awaiting the first assay results expected in January 2026, which will provide a clearer picture of the resource’s growth potential and metallurgical characteristics. The outcomes will inform future development decisions and could significantly influence Riedel’s valuation and strategic direction.
Bottom Line?
January’s assay results will be a critical milestone in unlocking Kingman’s value and shaping Riedel’s next steps.
Questions in the middle?
- Will the upcoming assays confirm extensions of high-grade mineralisation?
- How will metallurgical sampling influence future processing strategies?
- What impact will the entitlement offer have on Riedel’s capital structure?
