Vuzel Drilling Hits 19.6m at 0.54g/t Au, Phase 2 Program Doubled to 4,000m

Exploration Breakthrough at Vuzel

Raiden Resources Limited (ASX, RDN) has reported encouraging progress from its ongoing Phase 2 diamond drilling campaign at the Vuzel Gold Project in southeastern Bulgaria. The company has intersected a visually distinct brecciated zone interpreted as a potential epithermal feeder structure, which could be the source of the gold mineralisation observed across the project. While assay results for this particular zone are still pending, the discovery validates Raiden’s exploration model and suggests the presence of an extensive near-surface gold system with potential high-grade components.

Expanding the Mineralised Footprint

The recent drilling has significantly extended the known mineralised footprint by approximately 600 metres eastward from previous drill holes. Assay results from five additional holes confirm consistent near-surface gold mineralisation, with notable intercepts such as 19.6 metres at 0.54 grams per tonne gold starting from surface, including a higher-grade 2-metre section at 2.61 grams per tonne. Another highlight includes 4.1 metres at 1.25 grams per tonne from 78.6 metres depth, featuring 1.2 metres at 3.60 grams per tonne.

Strategic Drilling Expansion

In response to these promising results, Raiden has doubled its Phase 2 drilling program from an initial 2,000 metres to 4,000 metres. This expanded effort aims to refine targeting of additional epithermal feeder zones and further delineate the strike extent of the mineralised corridor, which spans 3 to 4 kilometres. The shallow, sub-horizontal nature of the mineralisation allows for efficient and cost-effective drilling, accelerating the exploration timeline.

Favourable Location and Regional Context

Vuzel’s location less than 20 kilometres from Gorubso-Kardzhali A.D.’s gold processing facility offers potential logistical advantages should a viable resource be defined. The nearby Rozino deposit, recently acquired for US$59 million by Türker Mining, and the Ada Tepe deposit operated by Dundee Precious Metals, provide a strong regional precedent for successful gold mining operations in the Eastern Rhodope belt. Raiden’s proximity to these established assets enhances the strategic value of the Vuzel project.

Looking Ahead

Raiden’s management remains cautiously optimistic, emphasizing that while it is early days, the consistent gold intersections and the identification of a potential feeder structure are highly encouraging. The company plans to continue drilling through the expanded program, with ongoing geological logging and assay analysis to better understand the mineralisation controls and to identify potential high-grade zones. These efforts will be critical in advancing towards defining a JORC-compliant resource and unlocking the project’s full potential.