- Copper gold explorer Raiden Resources (RDN) has identified intrusions at the Arrow Project similar to De Grey's (DEG) Hemi deposit in WA's Pilbara region
- The project is located adjacent to De Grey's Mallina Project, which contains the prospective Hemi Deposit
- Raiden has the exclusive option to develop Arrow, which is currently owned by the Pilbara Gold Corporation
- Meanwhile, it was Terra Resources which carried out the geophysical and geological targeting program at Arrow recently
- It's from that program that Raiden was able to identify the promising intrusions and a total of six priority targets
- The exploration company is now working on further refining those targets as it gears up to carry out additional exploration work
- Shares in RDN have jumped 7.69 per cent, trading at 2.8 cents each
Raiden Resources (RDN) has identified intrusions at the Arrow Project which are similar to De Grey's (DEG) Hemi deposit in WA's Pilbara region.
The Arrow Project is located adjacent to De Grey's Mallina Project which contains the highly prospective Hemi Deposit.
Raiden has the exclusive option to develop Arrow, which is currently owned by Pilbara Gold.
Ahead of the acquisition, the exploration company is in the process of carrying out due diligence at the project including this recent geophysical and geological targeting program.
The program itself was conducted by Terra Resources, which looked at all of the existing data for Arrow and Hemi.
Using what's known about the Hemi mineralisation, Terra identified six priority targets at Arrow with each containing multiple interpreted intrusions.
Commenting on the results, Raiden Chairman Michael Davy said this furthers the company's belief in the potential of the project.
"The targets identified in the exercise have compelling similarities to those of the Hemi deposit in particular, their geological and structural setting, where the mineralisation at Hemi is associated with intrusions within the fold axis and in association with the Berghaus fault," Michael said.
Following the conclusion of Terra's program, Raiden has begun reviewing Arrow's geochemical datasets as it works to refine the priority targets at the project.
Shares in Raiden Resources have closed today's session up 7.69 per cent, trading at 2.8 cents each.