Raiden Resources updates market on Serbian projects
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Raiden Resources Limited (ASX:RDN) has today provided an update on its exploration activities at its Serbian properties, as well as guidance on its strategy for the rest of CY2018.
The company is currently analysing the results of historical work conducted on Stara Planina by previous explorers, with the datasets supporting RDN’s view that the main anomalies on the Stara Planina project (Aldinac and Gradiste) remain untested and thereby present an opportunity for a maiden discovery.
In light of these findings, the company has engaged a globally recognised ‘porphyry and intrusion related deposit’ expert to assist in evaluation and target definition based on these historical datasets.
The company was unable to start field activities in Q1 of CY2018 as scheduled, due to unseasonably late snow fall in the area — however RDN’s technical team are now on the ground and initial activities have commenced.
RDN has engaged a geophysical service provider, the German-based Terratec Geophysical Services, to undertake an Induced Polarisation program over the two defined anomalies on the Stara Planina project.
The objective of the IP program will be to confirm the result of a previous IP program undertaken in 2017, and define the strike extents of the each of the anomalies. The company is now clearing lines for the program, and expects it to commence in the very near-term.
Beyond its Stara Planina activities, RDN has been continuing its engagement with, and support of, a potential joint venture with Rio Tinto Mining and Exploration Limited, a member of the Rio Tinto Group. Rio Tinto is currently conducting due diligence steps at the potential joint venture which covers the Donje Nevlje, Western Majdanpek and Majdanpek Pojas projects.
In commenting on today’s update, Managing Director of RDN Dusko Ljubojevic said: “After a prolonged period of poor weather, the company is pleased to be able to commence with our field activities.
“Our teams are in the field preparing the ground for the geophysical survey and mapping out the main targets on the Stara Planina project in preparation of the maiden drilling program, which is scheduled to commence on completion of the IP program.”
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