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Riedel Resources readies for gold/copper drilling north east of DeGrussa  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 10/10/2012

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(MENAFN - ProactiveInvestors - Australia) Riedel Resources (ASX:RIE) is a step closer to drilling its Marymia copper/gold project, 55 kilometres north-east of Sandfire Resources'(ASX:SFR) DeGrussa copper-gold mine, in Western Australia.

Riedel will test seven targets prospective for copper/base metals and/or gold with over 6,000 metres of RAB/aircore drilling.

A previous significant drill intersection included a target which returned a drilling intercept of 5 metres at 4.87g/t gold from 239 metres depth.

Marymia is also handily located 12 kilometres east of Sipa Resources (ASX:SIP) Thaduna copper prospect and 12 kilometres east-north-east of Ventnor Resources' (ASX:VRX) Green Dragon and Thaduna copper deposits in Western Australia's Mid-West region.

Riedel completed a review of 28 copper, gold, base metals and nickel targets which were identified from the results of geochemical soil sampling (carried out during 2011-2012) combined with the results of previous drilling, geophysical surveys and geological mapping.

The targets selected for this first-pass drilling programme were ranked as having the highest potential for the discovery of economic copper, gold and/or base metals mineralisation by means of cost effective shallow RAB and /or aircore drilling.

These key targets have yet to be tested by drilling, or have not been adequately tested by drilling.

Marymia Project covers an area of more than 425 square kilometres in the highly prospective Doolgunna-Thaduna region of the Proterozoic volcano-sedimentary Bryah and Yerrida Basins and Archaean Baumgarten Greenstone Belt in the Marymia Inlier.

Kick off date for drilling is governed by the completion of the requisite Heritage surveys.

This work is advanced with planning for survey work is expected to be implemented and completed by the end of October 2012.

 






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