Total
0
Shares
Source: Shutterstock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Raiden Resources (RDN) identifies 40 intrusion-related targets at the Arrow North Project in Western Australia
  • These targets have been identified following an interpretation of data from a previous high-resolution magnetic survey
  • The survey has also provided information on rock types and geological structures which show similarities to De Grey Mining’s Hemi discovery
  • Raiden plans to conduct induced polarisation (IP) work and will begin drill access permitting to drill the targets
  • Company shares are up 3.45 per cent and trading at 3 cents

Raiden Resources (RDN) has identified 40 intrusion-related targets at the Arrow North Project in Western Australia.

The company undertook a high-resolution magnetic survey at the project earlier this year to identify intrusions, host structures and products of gold-related hydrothermal alteration.

MAGSPEC Airborne Surveys acquired and initially processed the data. Geological researcher, Terra Resources then completed further processing and interpretation of the magnetic data.

In addition to identifying the targets, the interpretation provided detailed information on likely rock types and geological structures in the area.

The magnetic response also indicated there were zones of demagnetisation and possible hydrothermal alteration associated with mineralisation.

According to Raiden, the geological setting of the Arrow North Project is identical to De Grey Mining’s (DEG) Hemi discovery as the Indee Suite intrusions at Arrow are intimately associated with gold mineralisation at Hemi.

Managing Director Dusko Ljubojevic said the magnetic survey significantly increased Raiden’s confidence in the project.

“We will initiate field verification of the various targets immediately in order to prioritise the targets, as well as undertake induced polarisation (IP) work across high priority areas. At the same time permitting for drill rig access will commence concurrently.”

IP surveying is a process that De Grey used to define targets at Hemi and Raiden will adopt this technique to identify sulphides that are potentially associated with gold mineralisation at Arrow North.

Company shares were up 3.45 per cent to trade at 3 cents at 10:32 am AEST.

RDN by the numbers
More From The Market Herald
Essential Metals (ASX:ESS) - Managing Director, Tim Spencer

" Essential Metals (ASX:ESS) rides lithium boom with sale of Mavis Lake

Essential Metals (ESS) is looking to capitalise on the current “strong interest in lithium,” inking a deal to sell its stake in the
Poseidon Nickel (ASX:POS) - MD and CEO, Peter Harold

" Poseidon Nickel (ASX:POS) reports latest results from Tundra-Mute

Poseidon Nickel (POS) has provided an update on exploration activities within its Black Swan project in Western Australia.

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.