- Recently completed soil sampling, geological mapping defines trends.
- New arsenic-in-soil anomalism closely associated with similar gold anomalism.
- Follow-up underway to determine if anomalies associated with gold.
- Permitting for access over silver anomaly ongoing.
Raiden Resources (ASX:RDN) has this week identified significant new trends to follow up at the Vuzel gold project in south-eastern Bulgaria. The new multi-kilometre-long trends are anomalous to arsenic-in-soil anomalies, which have been defined in the southern and western parts of the project area.
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The company’s managing director, Dusko Ljubojevic, said Raiden now believes Vuzel has the potential to deliver a larger mineralised footprint than has been defined to date through current drill campaigns.
“The field exploration programs undertaken over the last few months have yielded very encouraging results and have further increased the prospectivity of the Vuzel gold project,” he told shareholders today.
“Pleasingly, new multi-kilometre trends anomalous in arsenic have been defined in the southern and western parts of the project area.
“Notably, the levels of arsenic anomalism are significantly higher than those observed in areas that have been drill tested to date.”
He added: “The arsenic anomalies are also associated with structures and alteration zones that are consistent with those observed in the gold- bearing areas in the central parts of the project (drill-tested zones).”
The company expect so receive a final metallurgical report in the near term, and management is also progressing the permitting on the historically defined silver anomaly at the project.
“While permitting over the silver anomaly has been in progress, mapping and soil sampling programs have been undertaken to determine the potential extent of anomalism across the project,” Mr Ljubojevic said.
“We will continue to deploy capital on Vuzel in a disciplined manner, with a view to increasing the project’s value and generating a favourable outcome.”
Upcoming tasks include completing preliminary metallurgical studies aimed at demonstrating a simple, cost-effective and gravity-focused processing flowsheet.
The company is also undertaking stream sediment sampling to assess the relationship between gold mineralisation and arsenic anomalism across newly defined targets within prospective areas at the project, ahead of potential drill testing of the recently defined gold and silver targets.
RDN is steady at 0.4¢. Mkt cap $13.8M.
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