Raiden Resources (ASX:RDN) reports has intersected significant near-surface gold mineralisation from its maiden diamond drilling program on the Vuzel Gold Project in south-eastern Bulgaria.
The company reports peak values up to 5.27 g/t Au with the results indicating potential extensions of the substantial gold zone along strike.
The near-surface, shallow dipping to sub-horizontal nature of the mineralisation will allow for rapid, cost-effective follow up drilling to explore the full extent of the mineralised system, which Raiden is already planning.
Addressing the drill program, Raiden Managing Director Dusko Ljubojevic said: “The gold intercepts from the 2022 maiden drill testing indicate the continuity of shallow gold mineralisation in the central part of the Vuzel prospective zone.
“This provides a very positive confirmation of the extensive geological potential the Vuzel license area has for further epithermal low sulphidation style gold deposits, such as Dundee Precious Metals (TSX: DPM) Ada Tepe open pit mine, located 30km south-east of the Vuzel discovery.
Planning is currently underway to expedite a follow up drill program
Planning is currently underway to expedite a follow up drill program aimed at defining the full extents of the mineralisation within this potentially large system and to explore for potential higher-grade zones within the system.”
The diamond drill program of 111 holes, comprising a total length of 1,595m, was completed at the beginning of June 2022.
All 11 discovery drillholes have intersected ‘significant and highly encouraging’ gold mineralisation, defined over a 500m strike length of near-surface gold mineralisation, which remains open along strike both east and west of the current drilling.
The next steps at the Vuzel Project include undertaking a detailed ground magnetic survey, aiming to model the major ore controlling structures and basement contact; infill and step out drilling in the Vuzel Central zone, exploration targets Au1 and Au2; and an initial drill test of gold exploration targets Au3 and Au4, and over entire Vuzel Au Prospective Zone.
Raiden is a dual listed base metal-gold exploration company focused on the emerging and prolific Tethyan metallogenic belt in Eastern Europe and has established a significant exploration footprint in Serbia and Bulgaria.
In 2021, Raiden executed a transaction to purchase a highly prospective portfolio of gold, copper, nickel, and PGE projects in the Pilbara region of Western Australia.
