• Raiden defines a third prospect on the Kalabak project “Sbor...

• Raiden defines a third prospect on the Kalabak project
“Sbor West”;
• Satellite imagery outlines large hydrothermal
alteration zone west of Sbor on the Kalabak permit
area;
• Alteration zone coincident with elevated gold
concentration in stream sediment;
• Geological observations point towards potential for
epithermal gold mineralisation and possibly towards
deeper seated copper- porphyry style mineralisation;
and
• Initial work program designed to advance this
untested prospect to the drill-ready stage
Raiden Resources Limited (ASX: RDN) (“Raiden” or “the
Company” is pleased to report on the results from a review of
historical exploration data, a study of satellite imagery and a
reconnaissance field visit to the Kalabak project in Bulgaria. As
detailed in the Company’s 15 July 2019 ASX announcement, the
Company has an option to acquire up to 75% of the project.
Dusko Ljubojevic, Managing Director of Raiden commented:
“Within only a matter of months, Raiden has managed to define a
third, large scale prospect on the Kalabak project. This speaks
volumes to the prospective geology within the Kalabak license. The
Sbor West prospect extends over a significant area and the
Company’ is already advancing the work programs over this
prospect to generate drill targets in the near term.”
QUICK STATS
ASX Code: RDN
Shares on Issue: 410.4 million
Market Cap: $2.87 million
Cash: $1.75m (at 30 June ‘19)
BOARD & MANAGEMENT
Non- Executive Chairman
Mr Michael Davy
Managing Director
Mr Dusko Ljubojevic
Non-Executive Directors
Mr Martin Pawlitschek
Company Secretary
Ms Kyla Garic
ASSET PORTFOLIO
Stara Planina - Serbia
(JV with local entity – path to 100% -
46km2)
Donje Nevlje - Serbia
(100% – 74km2)
Majdanpek West - Serbia
(Rio JV - 100% - 76km2)
Zupa - Serb