- Raiden Resources (RDN) is planning to focus in on its Arrow and Mt Sholl projects in WA’s Pilbara region over the next two years
- The exploration company recently signed off on a program of work for Arrow, with 5000 metres of reverse circulation drilling to be carried out
- While at Mt Sholl, RDN says it’s begun the drilling permit process, with further mineralisation outside known envelopes identified in recent work
- Raiden also says it’s considering divesting part of its Pilbara asset portfolio so it can better focus on Mt Sholl and Arrow
- Company shares are trading 4.17 per cent up at 2.5 cents at 1:37 pm AEST
Raiden Resources (RDN) will focus in on its Arrow and Mt Sholl projects in WA’s Pilbara region over the next two years.
The company released an update on Wednesday, revealing it may divest some of its Pilbara or Balkan assets so it can better focus on the two assets.
RDN has already signed off on a program of work for Arrow, with 5000 metres of reverse circulation drilling to be carried out.
The drilling will focus on initial targets, with recent fieldwork extending the mapped zone of silica-sericite-sulphide alteration within a sandstone unit.
The company has also begun the drilling permit process for Mt Sholl, with further mineralisation outside of known envelopes identified in recent work.
Raiden Managing Director Dusko Ljubojevic said both projects had strong potential.
“The work conducted to date across the Arrow and Mt Sholl projects has
demonstrated that both projects will form the basis of a long term exploration
strategy for the Company in the Pilbara,” Mr Ljubojevic said.
“Management are also evaluating strategic and corporate options for generating further value for shareholders, which may include advanced projects in the Pilbara, as well as, in the Balkans.”
Company shares were trading 4.17 per cent down at 2.5 cents at 1:37 pm AEST.