Raiden Resources has expanded its Phase 2 drilling at the Vuzel Gold Project in Bulgaria, confirming significant gold mineralisation and increasing its stake to 75%. Meanwhile, the company retains full ownership of the Arrow Gold Project after a partner withdrawal.
- Phase 2 drilling at Vuzel expanded from 2,000m to 4,000m following positive results
- Identification and confirmation of a high-grade feeder zone in drill hole VZ2527
- Raiden increased ownership in Vuzel Gold Project to 75%, with pathway to 90% upon JORC resource publication
- Mallina withdraws from Arrow Gold Project farm-in, returning 100% ownership to Raiden
- Corporate strategy focuses on capital preservation, cost discipline, and value-accretive acquisitions
Vuzel Gold Project – Drilling Success and Ownership Milestone
Raiden Resources Limited has reported a significant step forward in its exploration activities during the June 2025 quarter, centred on the Vuzel Gold Project in Bulgaria. The company expanded its Phase 2 diamond drilling program from an initial 2,000 metres to 4,000 metres after consistently encountering gold mineralisation across all holes drilled to date. Notably, the identification of a potential high-grade feeder zone in drill hole VZ2527 was confirmed through assays post-quarter, reinforcing the prospect of a substantial near-surface gold system.
Key intercepts include 24.8 metres at 1.96 grams per tonne gold starting from surface in hole VZ2517, with a higher-grade section of 13.3 metres at 3.40 grams per tonne. Another highlight, hole VZ2514, returned 56 metres at 1.09 grams per tonne, including an 8.3-metre interval grading 4.94 grams per tonne. These results suggest multiple mineralised zones that could underpin a viable resource.
Ownership and Strategic Positioning
During the quarter, Raiden met the investment criteria to increase its stake in Vuzel Minerals EOOD from 51% to 75%, marking a critical milestone in the project’s advancement. The company has a clear pathway to further increase ownership to 90% upon the publication of a JORC-compliant mineral resource. This enhanced control aligns with Raiden’s strategic focus on gold assets with promising exploration upside and proximity to existing processing infrastructure, which could offer operational synergies in the future.
Arrow Gold Project – Retaining Full Ownership
In Western Australia, Raiden’s Arrow Gold Project saw a change in partnership dynamics. Mallina, which had committed to a minimum $600,000 exploration expenditure and 3,000 metres of drilling under a farm-in agreement, elected not to proceed to the next stage involving more extensive drilling. Consequently, Raiden retains 100% ownership of the project and is currently evaluating the data generated by Mallina to determine future exploration strategies. Rehabilitation of drill sites was completed during the quarter, maintaining the project’s good standing.
Corporate Strategy and Financial Health
Raiden outlined a disciplined corporate strategy focused on capital preservation, cost optimisation, and prioritising projects with the highest potential for value creation. The company reported a strong cash position of AUD 14.04 million at quarter-end, supporting ongoing exploration and corporate activities. Cost-cutting measures and a focus on divestments or joint ventures for non-core assets underpin Raiden’s approach to maintaining financial flexibility.
Exploration efforts on other projects, including the BG1 and Zlatusha projects in Bulgaria and the Andover lithium project in Western Australia, were paused or limited during the quarter as the company concentrates resources on its highest priority assets.
Looking Ahead
Raiden’s ongoing drilling at Vuzel aims to deepen geological understanding and define the extent of mineralisation, with a focus on identifying additional feeder zones that could enhance resource quality. The company’s strategic acquisition pipeline remains active, with a clear emphasis on projects that align with its commodity focus and offer strong potential for value accretion.
Bottom Line?
Raiden’s expanded drilling and increased ownership at Vuzel position it well for a potential resource delineation, but upcoming assay results and strategic decisions will be key to sustaining momentum.
Questions in the middle?
- Will Raiden successfully define a JORC-compliant resource at Vuzel in the near term?
- What are the company’s plans for advancing the Arrow Gold Project now that it holds full ownership?
- How will Raiden balance exploration expenditure with capital preservation amid evolving market conditions?