Raiden Resources Limited (ASX: RDN) ("Raiden" or "the Company") is pleased to provide an update on operational and exploration progress on the Western Tethyan portfolio.

  • Management continue to pursue an aggressive exploration strategy across the Western Tethyan portfolio.
  • Preparations for maiden drilling campaign at Vuzel gold project in Bulgaria progressing with drill pad completion scheduled during November, ahead of maiden diamond drill program
  • Helicopter-borne magnetic and ZTEM geophysical survey to commence in November over the Donje Nevlje project in Serbia, aimed at defining further drill targets for follow-up
  • Maiden soil and rock sampling program completed over the Tolisnica and Stanca Cu/Co project in central Serbia to define full strike extent of mineralised prospects for planned 2022 follow-up program

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

"In the Western Tethyan, Management continue to drive an aggressive exploration strategy which parallels the activities in the Pilbara region of Western Australia, where the Company is advancing plans to drill test the Arrow and Mt Sholl projects. In Bulgaria, on the Vuzel project, we are nearing the maiden drilling campaign, with drill pad access and drill pad construction scheduled for completion in November. The initial campaign will be testing the high grade gold zones defined by historical trenching and which remain largely untested by drilling. In early November, the Company also plans to execute a helicopter-borne magnetic and ZTEM survey over the Donje Nevlje project in Serbia. A similar survey undertaken on the Companies Majdanpek West project in 2019, which is located in a similar geological environment as Donje Nevlje, generated numerous blind targets which will be the focus of future drill programs. As this is the first modern, permit wide geophysical survey to be undertaken over this project, we hope to generate similar results on the Donje Nevlje project. Also in Serbia, on the Stanca and Tolisnica project, the Company recently completed a detailed soil and rock sampling campaign over the two main mineralised prospects defined by drilling from the 1970's. The objective of the sampling program is to define the full strike extent of the known mineralisation and define additional prospects on the license. We continue to pursue an aggressive exploration campaign across our entire portfolio in the Western Tethyan, which we consider to be highly prospective for copper and gold mineralisation. Our objective is to undertake a multi-project drill program across our extensive portfolio and in doing so, it is imperative that we execute the targeting work as thoroughly and extensively as possible in order to maximise chances for exploration success."

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