Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic
Managing Director, Dusko Ljubojevic
Source: The Market Herald
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  • Raiden Resources (RDN) intersects ‘significant’ near-surface gold mineralisation at the Vuzel gold project in Bulgaria
  • The company recently finished drilling 11 holes — all of which intersected gold mineralisation over 500 metres of strike with peak grades of 5.27 g/t gold
  • The mineralisation is reportedly associated with a large alteration system and remains open along strike to the east and west
  • Raiden is planning a follow-up program to define the extents of mineralisation and explore for any further high-grade zones
  • RDN shares are 12.5 per cent in the green, trading at 0.9 cents at 12:45 pm AEST

Raiden Resources (RDN) has announced the results of its recently completed drilling program at the Vuzel gold project in southeastern Bulgaria.

The maiden diamond drilling effort wrapped up in early June and included 11 holes, for 1595 metres, to target broad zones of gold mineralisation defined through historical work.

Raiden Resources said all 11 drill holes intersected significant, near-surface gold mineralisation over 500 metres of strike with grades peaking at 5.27 grams per tonne (g/t) gold.

This 500-metre zone is found between the Au2 and Au3 target areas and the company believes there’s potential for the two targets to connect for a total one kilometre of strike.

Specific results include 17 metres at 1.13 g/t gold from one metre including 1.2 metres at 5.27 g/t gold, and 10 metres at 1.18 g/t gold from 7.7 metres including 3.9 metres at 2.38 g/t gold.

The mineralisation is reportedly associated with a large alteration system and remains open along strike to the east and west.

Managing Director Dusko Ljubojevic said the results indicate that shallow gold mineralisation continues in the central part of the Vuzel prospective zone.

“This provides a very positive confirmation of the extensive geological potential the Vuzel license area has for further epithermal low sulphidation style gold deposits, such as Dundee Precious Metals’ Ada Tepe open pit mine, located 30 kilometres south east of the Vuzel discovery,” he said.

Raiden Resources is now planning to undertake follow-up drilling to define the full extent of mineralisation and explore for potential higher grade zones.

RDN shares were 12.5 per cent in the green, trading at 0.9 cents at 12:45 pm AEST.

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