- Raiden Resources (RDN) finds 16 targets at its Majdanpek West project in Serbia
- The targets were found through previous data by geophysical service provider Southern Geosciences
- Data included aeromagnetic and VTEM surveys flown in 2019, as well as soil sampling and mapping completed in the same period
- Raiden is trading in the grey at 2.4 cents per share at 1:50 pm AEST
Raiden Resources (RDN) has found 16 targets at its Majdanpek West project in Serbia.
Perth-based geophysical service provider, Southern Geosciences, undertook an in-depth evaluation of the project data.
This data included aeromagnetic and VTEM surveys flown in 2019, as well as soil sampling and mapping completed in the same period.
The Majdanpek West and Majdanpek Pojas exploration licenses, which cover an area of 76 square kilometres, are in the northern Timok Magmatic Complex, near the town of Majdanpek.
The exploration program on the project will target similar styles of porphyry, epithermal, skarn and Timok style mineralisation.
Managing Director Dusko Ljubojevic is pleased with the new targets.
"The Majdanpek West project is in one of the most prolific mining
districts in the Western Tethyan. The Timok hosts some of the largest
copper-gold mines in Europe, which has made Serbia one of the top
producers of copper in Europe," Mr Ljubojevic said.
"As a result of the application of modern exploration technologies and methodologies, the district has yielded some exciting tier-one copper-gold discoveries such as Cukaru Peki, which is now operated by Zijin Mining in collaboration with RTB Bor, a Serbian state-owned mining company."
Raiden was trading in the grey at 2.4 cents per share at 1:50 pm AEST.