Raiden Resources Defines Second Gold Prospect at Kalabak in Bulgaria, Drill Targeting to Follow

Industry | August 9, 2019, Friday // 19:47|  views

Raiden Resources Ltd (ASX: RDN) has defined a second significant gold prospect at its Kalabak project in Bulgaria through a review of historical data and a reconnaissance field visit.

The company will be fast-tracking a fieldwork and target generation program on the prospect for which it has entered into an option agreement to acquire up to 75%.

Prospect untested

Raiden managing director Dusko Ljubojevic said White Cliff had presented the company with another prospect to advance in the near term, reports Proactive Investors

The prospect is defined by a large 1.5-by-1-kilometer zone of argillic alteration, with the alteration zone possibly related to an epithermal gold system.

It remains untested with no significant historical work undertaken to date.

Focused exploration campaign

Ljubojevic said: “We continue to be impressed by the Kalabak project and the large zones of alteration which have not previously been evaluated.

“It is rare that such large, exposed alteration zones have not been explored to date, especially since they are located in such a prolific metallogenic belt.

“As stated previously, the Western Tethyan hosts many significant deposits associated with similar alteration zones.

“The company plans to execute a focused exploration campaign in the following months to generate drill targets on the White Cliff prospect, as well as the Sbor prospect located only a few kilometers to the south.”

Generating drill targets

Further fieldwork is required to map out the alteration zones and understand the distribution and significant of simplification within this alteration system.

Raiden is planning a geochemical surface sampling and alteration mapping program over the untested epithermal gold prospect.

Results from this work will guide the following phase of geophysical surveys to generate drill targets.


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