Join our daily newsletter At The Bell to receive exclusive market insights
- Raiden Resources (RDN) reports early visual results from its maiden 5,000 metre reverse circulation (RC) drill program at its Arrow project in Western Australia’s Pilbara region
- Drilling has recommenced at the site following the company’s end of year break with 23 holes completed to date
- The company says geological logging of the RC drilling to date has identified prospective zones of alteration and sulphide mineralisation in several drill holes
- Results from 1,062 despatched samples are expected during the latter half of January 2022
- Shares have been up 5 per cent, trading at 2.1 cents
Raiden Resources (RDN) has reported early visual results from its maiden 5,000 metre reverse circulation (RC) drill program at its Arrow project in Western Australia’s Pilbara region.
Following the end of year break, drilling has recommenced at the site with 23 holes completed to date in a location the company describes as a highly prospective portfolio of gold, copper, nickel and PGE projects.
So far, 2,656 metres has been drilled with the company reportedly targeting Hemi-style gold mineralisation hosted by small volume indee suite intrusives.
The company says geological logging of the RC drilling to date has identified prospective zones of alteration and sulphide mineralisation in several drill holes.
The targets are located approximately 35 kilometres along strike of De Grey Mining’s (DEG) Hemi deposit and in a similar geological environment.
The company says a total of 1,062 samples have been despatched to ALS Global’s Perth lab for analysis.
Results from the despatched samples are expected during the latter half of January 2022.
The company says the focus of its RC program will now shift northwards to seven discrete targets. A total of 24 holes for a planned 2,630 metres remain to be drilled.
Shares were up 5 per cent trading at 2.1 cents at 1210pm AEDT.
