Image Source: Junjira Limcharoen, Shutterstock
- Raiden had conducted a high-resolution magnetic survey on one of the Pilbara assets.
- The Company has delineated 40 intrusion-related targets in the project area.
- Follow-up work involving field evaluation and IP survey across high-priority areas to commence soon.
- RDN to start the drill permit process immediately.
Diversified mineral explorer Raiden Resources Limited (ASX:RDN / DAX:YM4) announced the delineation of 40 intrusion-related targets at the highly prospective Arrow Project in the Pilbara region. The Company had undertaken a high-resolution magnetic survey on its Arrow Project lying in the Pilbara region of Western Australia.
Greyscale TMI magnetics and intrusion related gold target (Image source: Company update, 6 July 2021)
Raiden had involved MAGSPEC Airborne Surveys Pty Ltd to acquire detailed magnetic data across the northern Arrow tenement. The magnetic survey was conducted along north-south traverse lines spaced 25m apart while flying close to the surface at the height of 30m. Preliminary processing of the magnetic data was done by MAGSPEC. For additional processing and interpretation, Raiden took professional services of Terra Resources Pty Ltd.
The interpretation has provided detailed information about rock types and geological structures. The magnetic survey basically detects the magnetic anomaly in the subsurface. The anomaly can arise due to intrusions and alterations. The interpretation work has delineated 40 targets related to intrusion.
The Hemi discovery of De Grey (ASX:DEG) hosts a small volume of Indee Suite intrusions, which are associated with gold mineralisation. Arrow deposit bears identical geological settings as Hemi. The prospect has numerous small-volume Indee Suite intrusions. The intrusions occur in the striking shear zones adjacent to the larger Indee Suite Peawah Granodiorite.
Arrow and Hemi discovery at 35km on strike (Image source: Company update, 6 July 2021)
Mr Dusko Ljubojevic, Managing Director of Raiden, said that the magnetic survey on the Arrow had boosted the confidence in the targets significantly and had led to a quantum of additional targets warranting investigation.
“We will initiate field verification of various targets immediately in order to prioritise the targets, as well as undertake IP across high-priority areas. At the same time, permitting for drill rig access will commence concurrently.”
Arrow in relation to De Grey tenure and Hemi gold system (Image source: Company update, 6 July 2021)
RDN closed at AU$0.029 a share with a market capitalisation of AU$36.21 million as of 6 July 2021.
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