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Raiden takes first tilt at Bulgarian terrain

31 March 2022 11:44
ASX: RDN

Raiden Resources highly anticipated maiden drilling Vuzel gold project would target high-grade precious metal mineralisation in the southeastern European nation of Bulgaria.

As gold looks likely to reach beyond US$2040 an ounce, the company plans for 1500-metre diamond drilling plots couched by an exclusive option to claim the entire project.

The company is upbeat about its chances at the underexplored site, with the two-decades-old anomaly core remaining untested.

Analogous to the massive and exclusively golden system seen at its fellow Bulgarian Ada Tepe deposit, the project hosts both high-grade and broad low sulphidation.

The company said it was a great opportunity to test one of its key eastern European targets.

“This drilling program over these high-grade gold targets has been in progress over the last two years – we are excited to finally drill testing them,” managing director Dusko Ljubojevic said.

Meanwhile, the company anticipates access negotiations over its flagship Mt Sholl nickel-copper-cobalt-PGE project to be completed soon.

RDN’s Australian Stock Exchange-listed share price has risen 15.38 per cent today, selling at 1.5c (9.22 am UTC+ 8 hours).

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