Raiden readies to drill at Stara Planina

By Meagan Evans. Published at Jun 19, 2018, in Small Caps

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Raiden Resources Limited (ASX:RDN) has today updated the market on its latest exploration activities at the Aldinac and Gradiste targets within the Stara Planina Project within the Tethyan belt in Serbia.

The Stara Planina Project is subject to an earn in agreement whereby Raiden has the ability to acquire 100% interest in the project.

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

These latest results indicate the anomaly extends over an approximate strike of one kilometre and remains open to the north-west. The IP anomaly is correlated with high copper and gold values defined in the historical soil survey undertaken by Reservoir Capital in 2011.

RDN is encouraged by the fact that the previous explorer, Reservoir Capital, reported rock sampling results that included eight samples in the 2 - 12.25 g/t gold range and six samples in the 1 - 2 g/t gold range. These results indicate that high grade mineralisation is present within the system.

RDN engaged German based geophysical service provider, Terratec, to follow up on the IP anomaly which was defined in the 2017 IP survey. A total of four, approximately 1800m long lines were completed to determine the strike extent of the Aldinac target. The data from the 2017 survey was incorporated into the 2018 survey data set and used to generate a unified model.

Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.

The latest interpretation indicates that the anomaly extends from the surface to the maximum survey depths (approx. 450m) and possibly remains open at depth. Preliminary interpretations have defined a large and very intense chargeability anomaly which extends over a strike length of almost one kilometre.

Below is the location of IP lines executed on the Aldinac anomaly. IP lines B, C and AA are centred over the highest copper-gold-molybdenum values of the soil survey. Lines C and B are parallel to the 2017 survey line (AA) and spaced 200 meters either side. Line A is approximately 400m north west of line B and line D is approximately 600m south east of line C.

In parallel with the IP survey, RDN has been conducting reconnaissance mapping and rock chip sampling of the target area and have located several highly encouraging outcrops.

The presence of these mineralised outcrops provides further encouragement ahead of the planned drill program. The outcrops are located in the vicinity of the interpreted IP anomalies and provide support that the anomalies may be related to massive and disseminated mineralisation.

RDN continues to advance its exploration activities on the Aldinac and Gradiste targets and continues to take all steps required to commence drill testing of the targets defined at Aldinac as soon as possible. At this point drill testing is scheduled to commence in the third quarter of 2018.

Mapping and rock chip sampling of the Aldinac and Gradiste target areas is ongoing, while processing and interpretation of the Induced Polarisation data from the recently completed Gradiste survey will soon commence.

Negotiations with private and state landholders are ongoing to obtain access rights for the drilling program, as are negotiations with the drilling service provider to finalise the drilling contract. RDN is also engaging with contractors to commence with the construction of access roads and drill pads.

Dusko Ljubojevic, Managing Director of Raiden, commented: "We are very encouraged by the IP results at Aldinac which highlights the potential of a significant mineralisation system. The survey has defined a very large and robust IP anomaly which not only confirmed the 2017 IP survey results but has extended the target along strike and it remains open at depth and along strike.

“The Company has commenced with procedures to create drill pads and access in anticipation of the upcoming drill program.”

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