Raiden Resources (ASX: RDN / DAX: YM4) Shares Surge on Promising Gold Intercepts at Vuzel Project

Highlights

• Raiden Resources has announced encouraging initial assay results from its Phase 2 drilling at the Vuzel Gold project.
• All eight Phase 2 drillholes have intercepted near-surface gold mineralisation.
• A peak intercept of 24g/t Au over 1.5m has been recorded.
• Raiden has focused on defining mineralisation within a central 1.5km zone to guide future drilling.

Raiden Resources Limited (ASX: RDN / DAX: YM4) has announced initial assay results from its ongoing 2025 Phase 2 diamond drilling program at the Vuzel Gold Project in south-eastern Bulgaria.

All eight Phase 2 holes have hit near-surface gold, including high-grade intercepts in several intervals. To date, every Phase 1 & 2 drillhole has intercepted gold mineralisation with a peak value of 24g/t Au over 1.5m. The company believes these consistent results suggest that Vuzel may host an extensive, near-surface mineralised gold system with a high-grade component.

These latest results follow the company’s maiden drilling program, which also reported gold mineralisation in every hole.

Significant intersections from the initial assay results from the Phase 2 drilling program include the following:

• VZ2517: 24.8m @ 1.96g/t Au from 0.0m

▪ Including 13.3m @ 3.40g/t Au from 0.0m

• VZ2514: 56.0m @ 1.09g/t Au from 0.0m

▪ Including 8.0m @ 1.50g/t Au from 7.0m

▪ Including 8.3m @ 4.94g/t Au from 47.7m

• VZ2412: 47.5m @ 0.53g/t Au from 2.5m
• VZ2515: 22.0m @ 0.36g/t Au from 0.0m

and 23.2m @ 0.57g/t Au from 71m

▪ Including 6.5m @ 1.44g/t Au from 81.0m

• VZ2516: 21.4m @ 0.40g/t Au from 2.1m
• VZ2518: 14.5m @ 0.45g/t Au from 0.0m

and 25.6m @ 0.67g/t Au from 60m

▪ Including 4.5m @ 1.04g/t Au from 4.5m

▪ Including 10.9m @ 1.23g/t Au from 74.7m

Reflecting on the Phase 2 results, Mr. Dusko Ljubojevic, Managing Director of Raiden, said, “This phase has delivered high-grade intercepts and has significantly improved our understanding of the controlling structures that acted as conduits for fluid emplacement. This growing geological insight is expected to enable more precise targeting of high-grade zones in future drilling.”

He further added: “The results continue to validate our exploration model and reinforce our geological understanding of the Vuzel Gold Project, strengthening our view that it represents a strategically significant asset within the Company’s portfolio. Furthermore, we believe that recent transactions in the region support management’s view that discoveries in the district hold the potential for significant value generation for shareholders. With drilling ongoing and further assays pending, I look forward to providing additional updates as results become available."

Phase 2 Drilling at Vuzel Gold Project

Vuzel is located nearly 20km from Gorubso-Kardzhali A.D.’s (a private Bulgarian Mining company) gold processing facility, whom is also a 30% partner of TSX-V Velocity Minerals, whose Bulgarian assets, including the Rozino deposit ([email protected]/t Au) was recently subject of USD 59 million acquisition by Türker Mining.

Raiden commenced a 2,000m diamond drilling program in March 2025 as part of the Phase 2 exploration campaign at the Vuzel Gold Project and has completed 12 drill holes to date. The initiative aims to enhance geological understanding of the mineralised system and guide future exploration and resource development efforts.

Drilling is expected to conclude in June 2025. Results have been reported for eight holes, while assay results from the remaining four are pending.

Next Steps

The program now focuses on delineating the full extent of mineralisation within a 1.5km central zone, which will guide future drill planning. In parallel, Raiden aims to expand exploration across a broader 3-4km strike zone marked by anomalous gold values.

RDN shares soar

Following the announcement, RDN shares jumped 50% to trade at AUD 0.006 at the time of writing, and traded as high as AUD 0.007 (up 75%), on 19 May 2025.