RAIDEN RESOURCES LIMITED ASX RELEASE | 10th January 2022
only | DRILLING UPDATE AT ARROW PROJECT | |
HIGHLIGHTS | ||
• Drilling has recommenced at Raiden's 100% owned Arrow | ||
use | North Project following the end of year break | |
• | Company completed 23 holes for 2,656m to date, with a total | |
of 1,062 samples despatched to lab for analysis | ||
• | Drilling has intersected intense zones of silica-carbonate | |
personalFor | alteration, with associated sulphide mineralisation within | |
dioritic intrusive rocks | ||
• Drilling is targeting Hemi-style gold mineralisation, hosted | ||
by small volume Indee Suite intrusives | ||
• | Targets are located approximately 35km along strike of | |
(ASX: DEG) De Grey Mining's Hemi deposit and in a similar | ||
geological environment | ||
Raiden Resources Limited (ASX: RDN) ("Raiden" or "the Company") is pleased to report on early visual results of the maiden 5,000m Reverse Circulation (RC) drill program at Arrow project in the Pilbara region of Western Australia and recommencement of drilling . Following the end of year break,
QUICK STATS
ASX Code: RDN
DAX Code: YM4
BOARD &
MANAGEMENT
Non- Executive Chairman
Mr Michael Davy
Managing Director
Mr Dusko Ljubojevic
Non-Executive Directors
Mr Martin Pawlitschek
Non-Executive Directors
Mr Dale Ginn
Chief Operating Officer
Mr Warrick Clent
Company Secretary
Ms Kyla Garic
ASSET PORTFOLIO
SERBIA
Cu, Co & Au (~269km2)
BULGARIA
Cu, Au & Ag (~409km2)
AUSTRALIA
Au, Cu, Ni & PGE (~840km2)
ASX RELEASE | 10th January 2022
Mr Dusko Ljubojevic, Managing Director of Raiden commented: "We are encouraged by these onlyearly visual results from the preliminary drill holes at Arrow. As soon as the assay results are received, management will plan for follow up programs, where warranted, in parallel with a project wide campaign which is currently being planned.. The current drill program now re-focusesto the targets in the north-easternpart of the project area, where geophysical modelling has defined multiple intrusion
related targets, several of which will be tested during the ongoing program."
The Arrow North Project is located approximately 35 km to the south-east, and along strike from De Grey Mining's Hemi 6.8Moz gold deposit (ASX: DEG 23 June 2021), where small volume and linear useIndee Suite intrusions are intimately associated with gold mineralisation. The gold at Hemi is located in and around these bodies within northeast-southwest striking shear zones adjacent to a larger Indee Suite stock. Targeting at Arrow has been based on identifying the intrusions, host structures and
products of hydrothermal alteration within a similar geological environment to the Hemi deposit.
Raiden commenced with the maiden drill campaign at Arrow in December '21, where operations
continued up to end of December and were suspended for the end of year holiday period. Drilling personalby Raiden at Arrow North, prior to the end of year drilling break, focused on the 3-kilometre long, multi-element geochemical (Au-As-Sb) anomaly in the central part of the project area. The anomaly
was also defined by a zone of hydrothermally altered metasediments, which were coincidental with small volume intrusive rocks and a series of northeast-southwest striking shear zones adjacent to the larger Indee Suite Peawah Granodiorite (see Figure 1).
Geological logging of the RC drilling to date has identified prospective zones of alteration and ulphide mineralisation in several drill holes. The most intensely altered zone intercepted so far is in hole RARC014, where a zone of intense quartz-carbonate alteration, with associated sulphide mineralisation (up to 7% pyrite visually logged), was intercepted over a downhole interval of 55 metres, within dioritic intrusive rocks. Included in this interval is a zone of intense silica alteration containing up to 25% quartz material and associated pyrite mineralisation from 133m to 144m.
Also in RAC014 a second zone of potential mineralisation was intersected further downhole, between 210-216m, where up to 15% pyrite was logged visually, in a zone of silica-chlorite alteration within a
Fordiorite intrusive.
Other holes of interest include RARC016 and RARC017, where zones of shearing at the contact between the meta-sediments and the diorite was intersected. This shearing is likely associated with the large northeast-southwest striking shear zone modelled from Raiden's recent geophysical interpretation, and is associated with the Au-As-Sb soil anomaly in the central part of the project area (see Figure 1). Notably in both these holes, zones of up to 10% disseminated pyrite were logged within the dioritic intrusive rocks below this sheared contact.
A total of 23 holes for 2,656 metres have been completed to date during the current drill program with a total of 1,062 samples despatched to ALS Global's Perth lab for analysis.
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ASX RELEASE | 10th January 2022
onlyResults from the despatched samples are expected during the latter half of January 2022.
The focus of the RC drill program now shifts to the seven discrete targets in the northern part of the project area (Figure 1), where the recent high resolution aeromagnetic survey identified magnetic responses, which are indicative of small volume and linear Indee Suite intrusions in a setting analogous to Hemi. As announced previously (ASX:RDN 29 November 2021)1, these targets are covered by aeolian, transported sands and the scout drilling of these targets will aim to define the geological characteristics of the intrusives and potential mineralisation associated with them.
useA total of 24 holes for a planned 2,630 metres remains to be drilled during this current phase of RC drilling at Arrow North.
On completion of the program and receipt of all results, management will complete the analysis and interpretation of the results and will update the market. personalFor
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ASX RELEASE | 10th January 2022
personal use only
Figure 1 Arrow North project Prospect Scale - Planned Drilling with Geology, Au-As-Sb Anomalies and Targets
from the recent high resolution magnetic survey
For
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r personal use only
ASX RELEASE | 10th January 2022
Figure 2: Arrow project in relation to ASX:DEG & TSX:NVO tenure and the Hemi gold deposit. Notably, the Arrow project remains significantly
underexplored with only the recent drilling targeting Hemi style mineralisation
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Raiden Resources Limited published this content on 09 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2022 22:17:08 UTC.
