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Raiden’s maiden gives golden favour

6 July 2022 14:11
ASX: RDN

Raiden Resources’ maiden drilling has hit shallow gold in all 11 holes at the company’s highly prospective Vuzel gold project in central Bulgaria with grades up to 5.27 grams per tonne of gold recorded in one section.

The highlight 1.2 metres section glimmered amongst consistent and shallow results show supporting an extensive alteration system with potential for extensions along strike of an already-substantial zone.

Vuzel is a well-advanced target with significant gold mineralisation already defined and lies just 30 kilometres northwest of the Ada Tepe open-pit gold mine.

RDN Vuzel Map

Vuzel Central Zone Drill plan and drill targets

The company said the intercepts indicated mineralisation was flowing steadily through the central part of the project.

“This provides a very positive confirmation of the extensive geological potential the Vuzel license area has for further epithermal low sulphidation style gold deposits,” managing director Dusko Ljubojevic said.

Planning is now underway for an accelerated follow-up program to define the full extent of the system and search for additional high-grade zones.

Significant intersections:

• 17m @ 1.13g/t Au from 1m in VZ2206 – including 4.3m @ 2.19g/t Au and 1.2m @ 5.27g/t Au

• 10m @ 1.18g/t Au from 7.7m in VZ2201- including 3.9m @ 2.38g/t Au

• 8.8m @ 1.20g/t Au from 22.6m in VZ2209 – including 1.3m @ 3.52g/t Au

• 8.5m @ 1.10g/t Au from 7.5m in VZ2203 – including 2.2m @ 2.66g/t Au

RDN’s Australian Stock Exchange-listed share price has risen by 12.5 per cent today, selling at 0.9c (11.05 am UTC+ 8 hours).

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