- Raiden Resources (RDN) completes a maiden drilling program at its Vuzel gold project in Bulgaria
- The drilling program covered 1594 metres across 11 drill holes and was the first campaign to target the core of the target area
- All drill core has been cut and sent to the laboratory for analysis, and the company said it is expecting results in the next two to three weeks
- Shares in Raiden Resources were steady at 1 cent each as of 10:43 am AEST
Raiden Resources (RDN) has completed a maiden drilling program at its Vuzel gold project in Bulgaria.
The drilling program covered 1594 metres across 11 drill holes and was the first drilling campaign to target the core of the target area.
All the drill core has been cut and sent to the laboratory for gold analysis, and the company said it is expecting results in the next two to three weeks.
Managing Director Dusko Ljubojevic said he is pleased with how the drilling program was carried out.
“We have drill tested all the planned target areas designed in the initial program. All the core has been logged, cut and the samples have been dispatched to an accredited
laboratory for analysis,” Mr Ljubojevic said.
“As soon as the results are received and interpreted the company will update the market.”
This is the second drilling program Raiden has undertaken this year, and the company now plans to advance permitting over the Mt Sholl nickel project in the Pilbara region of WA.
The company recently expanded Mt Sholl — through an agreement with current land owner Welcome Exploration, Raiden is set to acquire an 80 per cent interest in a licence adjacent to Mt Sholl.
The tenement hosts the northern-most extent of the Mt Sholl layered intrusion, providing Raiden a hold on the entire northern strike of the intrusive complex.
Shares in Raiden Resources were steady at 1 cent each as of 10:43 am AEST.