Mr Dusko Ljubojevic, Managing Director of Raiden commented:
“Our decision to expand the Phase 2 drilling program by a further 2,000m of diamond drilling is in direct response to the highly encouraging results reported to date. Every hole reported from the Vuzel project has returned gold mineralisation, including numerous high-grade intercepts.
Based on the results and our geological understanding to date, the mineralised system appears extensive, near surface and horizontal to sub-horizontal. These characteristics present an opportunity to rapidly and cost-effectively advance exploration, in alignment with our corporate strategy. The expanded drilling will allow us to better define the geometry of the system and test strike extensions across the broader 3-4km anomalous corridor, with an emphasis on targeting potential high-grade feeder zones.
While drilling remains ongoing and our understanding of Vuzel’s potential continues to evolve, we see strong potential to progress towards a maiden JORC resource in time, which, if successful, would allow us to achieve 90% ownership. I look forward to keeping shareholders updated as further results become available.”
(20min delay)