Categories: Precious Metals
Topics: General Precious Metals

Riley Gold (TSX-V: RLYG)(OTC: RLYGF) CEO Todd Hilditch on Searching for Nevada’s Next Major Gold Discovery

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Riley Gold, Mr. Todd Hilditch. Todd, how are you? Great to have you back on again.

Todd Hilditch: I'm great. Thanks, Gerardo. Thanks for having me back on.

Gerardo Del Real: Well, listen, the last time that we spoke, we chatted about the regional earn in activity. There were several deals, one in particular that was really, really beneficial to the region and the area, and you had some news last week that was a little bit more specific to your project. So listen, it's great to be an area play and the whole closeology thing. We've seen people do that and over. That's not what Riley is doing. Riley looks to have a very, very prospective project, and I have to say, when I said it off air, you're doing all the right work to set the table for what I think is going to be a phenomenally exciting drill program here. Can you walk me through the latest release with the new perspective zones that were discovered at the project?

Todd Hilditch: Yeah, absolutely. I'll take it half a step back first and just a tiny little touch on the last time we spoke, which was, you're right, the regional sort of activity around our Pipeline West project, so Barrick/Nevada Gold Mines has now surrounded us out there on an earn in. So, we're sort of the meet in the middle, if you will, or surrounded by 35 million ounces of gold off to our southeast. So, I don't want to downplay the fact that we're in a good prospective area on our Pipeline West-Clipper project, but the news that we released in the past week is very specific to Tokop. As you know, we've done some drilling, we've done some high grade sampling at surface, we've got some drill results that show high grade gold subsurface, but it was time for us, as we're waiting for the remaining nine holes to be assayed and taken to the market was okay, we're focusing on sort of a kilometer, kilometer and a half by a kilometer, kilometer and a half in our sort of regional or very specific drilling and sampling.

Now, we want to look at the bigger picture, where will we drill next? Where are we going to find the intersection of these structures, which would typically be where you'd see sort of a pooling of fluid or gold. So, we have implemented a geophysics program, which we're halfway through. We've got a mapping and sampling and soil sampling program. We have another 200 samples give or take that are into the lab, but what is interesting is now that we finished drilling the first iteration, it's allowed our geologists to get off the main area and low and behold, they found two very specific parts of the property, two kilometers apart, but a kilometer each away from our drilling.

And, one of the areas happened to have a historic drill hole of over 12 meters of a gram per tonne. So obviously, and that's under pediment. There's very subtle things at surface that take you to this particular part, but our guys have been able to figure that out and, and track it down, so that's one area.

And the other one, which is pretty cool, it's off to the south southwest of our property and a kilometer away from the drilling, I should say, and it's a structural zone that it takes time to walk the land and find these zones, but it's a big intrusive, it's 100 meters or call it 300 feet wide, and it goes 500 meters or 1,500 feet long, and it's quartz veining. We see it at surface, so once you take our drilling, our mapping, our sampling, our additional samples, and then we see these kind of zones popping up and structures, you take it all together, we're going to put it into our pot, we'll mix it up, we'll see how it comes out in terms of where do we want to drill next to find the deposit? And, that's kind of where we're at now.

Gerardo Del Real: Well, Riley has been very clear in its goal is to explore, not just behind the computer screen exploration, true boots on the ground exploration and to use the geophysics and the geo chem and the mapping to make a significant discovery. That's the end game here, right? Make a discovery and grow it.

Todd Hilditch: Absolutely, it's nice to see gold at surface in veins and nice to get a beautiful half an ounce type material, but we're looking for multimillion ounce type deposit. We're not just going to scrape the surface here.

Gerardo Del Real: When do you expect the next set of results from the exploration program?

Todd Hilditch: There's a few ways to answer that. From a drilling standpoint, the labs have been extremely slow. We're not going to batch these. We're going to wait for all nine to be completed. I'm hoping that's in the next four or five weeks. The remaining results, sampling we get periodically that comes through the lab, but the geophysics is really what we're kind of honing in on. If we can get the second part of the program, the gravity survey, which will identify sort of structure, we're hoping by sort of in December we would start to see that come together. So, that's when we take layer one, add layer two, add layer three, and then layer four being geophysics. Now we can figure this out, so I'd like to think that by year end, we're in a pretty good position to say, okay, we have an idea where we're going to drill next and here's what the program should look like.

Gerardo Del Real: Excellent. Todd, I'm looking forward to the results from the exploration program, the results that are pending and looking forward to the next bit of drilling as well.

Todd Hilditch: Great. Thank you so much for having me today.

Gerardo Del Real: Thanks for the update, I appreciate it.

Todd Hilditch: You bet.