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Highlights
- Heritage survey has been completed at the Arrow Project, covering new gold targets.
- Air Core (AC) drilling will commence at the targeted areas following the receipt of the final heritage survey report and Program of Work (PoW) approval.
- Gold exploration activities at the Arrow Gold Project are being financed by the joint venture (JV) partner, Mallina Co Pty Ltd (“Mallina”).
- The completion of this heritage survey positions RDN for a third drilling campaign across the projects planned for the remainder of this year.
Raiden Resources Limited (ASX:RDN, DAX:YM4) has successfully completed an archaeological and anthropological heritage survey over the new gold targets at the Arrow Project area, E47/3476. This two-day survey was conducted in collaboration with the elders and senior representatives of Kariyarra Pirnthurrna claimant group and Mallina Co Pty Ltd, the joint venture partner of RDN.
The survey focused on the areas which Mallina has planned for drilling over recently defined targets.
The company is now poised to commence air core drilling as soon as the final heritage survey report is received, and the necessary Program of Works (PoW) approval is granted. The company intends to commence drilling before the end of 2024.
Upcoming drilling across RDN projects
In addition to the heritage survey completed by Mallina Co over the Arrow Project's gold targets, RDN recently announced the completion of an additional survey by First Quantum Minerals at the MT Sholl Cu-Ni-Co-PGE Project. Both projects have been funded by the partners, enabling them to progress toward drilling later this year.
These upcoming drilling activities coincide with RDN’s planned drilling campaign at the Andover South Lithium Project, which is situated along the trend of the major lithium discovery made by former ASX-listed company Azure Minerals, now SH Mining.
With these three drilling programs scheduled, Raiden Resources is poised for a highly active and exciting period.
Significant anomalies identified at Arrow Gold Project
Through soil sampling, geological mapping, and detailed magnetic surveys across the Arrow gold project area, the company has identified numerous significant anomalies. Given its proximity to the Hemi gold deposit of De Grey Mining, located just 35km away, the area demonstrates considerable potential for hosting significant orogenic style gold deposits.
About Mallina Co
Mallina Co is a subsidiary company of Discover Co Pty Ltd, a private company which invests in gold and copper discovery opportunities in Australia. The company is led under the guidance of Markus Ziemer, an experienced resources industry executive.
RDN shares traded at AU$0.026 apiece on 30 August 2024.
