- Raiden Resources (RDN) advises that the Bulgarian Minister of Energy has signed an exploration agreement for its Zlatusha project
- The three-year licence covers a 195-square-kilometre area that hosts seven historically defined porphyry, epithermal and skarn prospects
- RDN notes the areas haven’t been explored in more than 20 years and it wants to test them with modern technology
- The new licence area also lies nearby to Raiden’s Donje Nevlje project in Serbia and RDN plans to explore the area after reviewing historical data
- RDN shares are steady at 2.5 cents each
Raiden Resources (RDN) advises that the Bulgarian Minister of Energy has signed an exploration agreement for its Zlatusha project.
RDN has welcomed the news, stating the agreement equates to a three-year licence covering a 195-square-kilometre area.
Managing Director Dusko Ljubojevic explained the area plays host to seven historically defined porphyry, epithermal and skarn prospects.
“Zlatusha is considered one of the least explored and most prospective segments of Cretaceous geology in the region,” Mr Ljubojevic said.
“It is a large exploration area, covering almost 200 square kilometres and hosts over seven historically defined porphyry, epithermal and skarn prospects, which have not been evaluated for over 20 years and have not been subjected to the latest
exploration technology.”
The MD added that the project lies nearby its existing Donje Nevlje project in Serbia, giving the company a significant landholding in the region.
“This is a significant event for the company, which now, along with the Donje
Nevlje project, across the border in Serbia, controls a major portion of the Cretaceous volcanics in the district and is the only Company with active licenses in this area,” Mr Ljubojevic said.
Next steps for RDN were to review the historical data available on Zlatusha and begin obtaining work approvals.
Company shares have closed Wednesday’s session trading steady at 2.5 cents per share.