- Raiden Resources (RDN) has outlined some exploration plans for its Western Tethyan portfolio of assets in Eastern Europe
- The company is preparing to begin a maiden drilling program at the Vuzel gold project in Bulgaria to test high-grade gold zones
- It will also undertake a helicopter-borne survey at the Donje Nevlje project in Serbia to test existing and potential new target zones
- RDN also completed sampling at the Tolisnica-Stanca project to determine the extent of mineralised trends and to test for further volcanic massive sulphide mineralisation
- Raiden Resources was down 4.17 per cent to 2.3 cents per share at the close of trading on Wednesday
Raiden Resources (RDN) is continuing to progress its exploration strategy across the Western Tethyan portfolio of assets in Eastern Europe.
Preparation work is underway for a maiden drilling program at the Vuzel gold project in Bulgaria with drill pad access and construction scheduled for completion next month.
The diamond drilling program will cover between 1000 and 2000 metres, testing high-grade gold zones that were identified by historical trenching but weren’t drill tested.
Raiden also plans to conduct a helicopter-borne magnetic z-tipper axis electromagnetic (ZTEM) survey at the Donje Nevlje project in Serbia. This method was adopted based on a previous survey undertaken at a project with a similar geological environment that generated multiple targets.
The survey is designed to further narrow into target zones and define potential new targets. The survey is expected to begin at Donje Nevlje in early November and will be followed up with interpretation and targeting work in December.
“We continue to pursue an aggressive exploration campaign across our entire portfolio in the Western Tethyan, which we consider to be highly prospective for copper and gold mineralisation,” Managing Director Dusko Ljubojevic said.
“Our objective is to undertake a multi-project drill program across our extensive portfolio and in doing so, it is imperative that we execute the targeting work as thoroughly and extensively as possible in order to maximise chances for exploration success.”
Raiden has also completed a detailed soil and rock sampling at the Tolisnica and Stanca project in Serbia which is defined by two historical copper-cobalt prospects.
The sampling aimed to determine the extent of the mineralised trends and to test for further volcanic massive sulphide mineralisation. The company will provide the results once they’ve been analysed and received.
Raiden Resources was down 4.17 per cent to 2.3 cents per share at the close of trading on Wednesday.