- Raiden Resources (ASX:RDN) reveals plans for drilling to commence in Q2 through its JV with Velocity Minerals
- The drilling will take place at the Zlatusha project in Bulgaria
- It follows a mapping and surveying exercise conducted by Velocity
- The focus now turns to a 3000-metre diamond drilling campaign scheduled to begin in Q2
- Shares in RDN last traded at 2.6 cents
Following a mapping and surveying exercise across the Zlatusha project in Bulgaria, Raiden Resources (ASX:RDN) has revealed plans for drilling to commence in Q2 through its joint venture with Velocity Minerals.
The company today provided an operational update on the project located in the Southeastern European country.
“We are pleased with the efforts and targeting work undertaken by Velocity Minerals over the Zlatusha joint venture project in Bulgaria, which will result in a planned drilling program in Q2 of this year,” RDN Managing Director Dusko Ljubovevic said.
Throughout the work program, Velocity completed several key activities:
- Mapping of key target areas
- Collection and analysis of 1800 soil samples and 650+ rock samples
- A 4500-station ground radiometric survey
- A property-wide drone magnetic survey
Shifting gears, the focus now turns to a 3000-metre diamond drilling campaign scheduled to begin in Q2.
“The Zlatusha project is located within an established and mineral endowed mineralised belt,” Mr Ljubovevic said.
“The project is considered to be prospective for epithermal and porphyry styles of mineralisation, where a discovery can provide the company and the shareholders with significant upside potential.”
For Raiden, its focus remains on advancing the Andover South project.
“We are pleased that the target generation is ongoing throughout the entire portfolio of projects, while the team is focused on the Andover South permitting and planning for the maiden drilling program on that project.”
Shares in RDN last traded at 2.6 cents.