Highly promising Stara Planina results prompt Raiden to accelerate drilling program

By Trevor Hoey. Published at Jul 4, 2018, in Small Caps

This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. FinFeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.

Raiden Resources Ltd (ASX:RDN) has provided an update on exploration activities at the Stara Planina Project, indicating that the anomaly extends over an approximate strike of 900 metres and remains open to the north.

The Stara Planina Exploration Permit is located approximately 30 kilometres south of the Timok District, a world class copper-gold region, within the Tethyan belt in Serbia.

The main target style within the permit area is bulk-mineable, intrusion-related gold-copper mineralisation.

It is worth noting that the project is located only 60 kilometres south of the globally significant Bor copper-gold mining complex and smelter.

This is a region that has been host to high-grade, long-life copper projects, and with Rio Tinto (ASX:RIO) recently entering into an agreement to inject $40 million into exploration at Stara Planina, the project has taken on a whole new profile.

Anomaly correlated with high regional copper and gold values

Preliminary results from the Induced Polarisation (IP) survey have been received from the Gradiste anomaly, which is located on the western side of the Stara Planina Project.

Indications that the anomaly extends over an approximate strike of 900 metres and remains open to the north are highly promising.

The anomaly correlated with high copper, molybdenum and gold values defined in the historical soil survey, providing management with confidence regarding the accuracy of historical data.

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

The latest exploration results will only serve to boost investor confidence with regard to Raiden potentially being another junior such as Reservoir Minerals that has hit the big time in that region.

Large and robust drill target

Dusko Ljubojevic, Managing Director of Raiden, highlighted the significance of the latest results in saying, “The IP data suggests that, as with Aldinac, at Gradiste we are looking at another large and robust drill target, which we consider to host the potential for copper and gold intrusion-related mineralisation.

“The IP target at Gradiste is supported by historical soil anomalies, high grade trenching results, rock samples and is located adjacent to a historical underground mine.

The latest results confirm the company’s belief that the Stara Planina project is a significant target that warrants immediate follow-up exploration and preparations are being made to commence with the drilling activities as soon as possible.”

Drill testing will commence in the current quarter of 2018 in conjunction with drill testing of the Aldinac target area.

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