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Raiden Resources (ASX: RDN) concludes 79-hole Drilling at Arrow Gold Project

November 17, 2024 10:03 PM EST | By Aditi Sarkar
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Highlights

  • Raiden Resources has completed a 79-hole air core drilling program at the Arrow Gold project.
  • Drill samples are now on their way to the laboratory for analysis.
  • Results from the drilling program will guide the next phase of activities for the project.

Raiden Resources Limited (ASX: RDN, DAX: YM4) has announced the successful completion of its air core drilling program at the Arrow Gold project, located 110km southwest of Port Hedland in the heart of the Mallina Basin.

The program, which was completed on schedule, involved 79 drill holes. The samples have now been sent to the laboratory for analysis.

Reflecting on the development, Managing Director of Raiden, Mr Dusko Ljubojevic, commented: “The drilling program at Arrow has been successfully completed and we eagerly await the results. These findings will guide the next phase of activities for the project. We will update the market on future plans once the results have been analysed and Mallina provides direction.”

The air core drilling program has been designed to assess Hemi-style orogenic gold targets previously identified by Raiden on tenement E47/3476. Drilling primarily targeted areas linked to shear zones, magnetic intrusive bodies, and hydrothermal alteration.

The campaign targeted six areas considered prospective for this style of mineralisation, which were previously based on soil sampling programs and magnetic data evaluations.

All gold exploration activities on the project are funded by the joint venture partner, Mallina Co Pty Ltd, while Raiden retains full ownership (100%) of the Lithium-Caesium-Tantalum (LCT) rights.

RDN shares were trading at AU$0.026, reflecting an uptick of 4%, at the time of writing on 18 November 2024.


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