1.6m at 7.69g/t Au Highlights Vuzel Potential; $13.25M Cash Supports Growth
Raiden Resources reports promising high-grade gold intersections at its Vuzel Gold Project in Bulgaria, while advancing permit applications to explore a significant silver anomaly. The company also retains full ownership of its Mt Sholl Project in Western Australia, maintaining a strong cash position.
- High-grade gold feeder zone intersected at Vuzel with 1.6m @ 7.69g/t Au
- Induced Polarisation survey reveals multiple new gold and silver exploration targets
- Drilling paused pending permits for Skarn Silver Anomaly testing
- Raiden retains 100% ownership of Mt Sholl Project after First Quantum Minerals withdrawal
- Strong cash balance of A$13.25 million supports ongoing exploration and corporate strategy
Exploration Breakthroughs at Vuzel
Raiden Resources Limited (ASX – RDN) has delivered a robust quarterly update highlighting significant progress at its Vuzel Gold Project in Bulgaria. The company’s latest drilling results include a standout high-grade feeder structure intersected at 58.7 metres, returning 1.6 metres at 7.69 grams per tonne gold. This discovery reinforces Vuzel’s potential as a shallow, economically attractive gold system, with nearly all holes drilled so far confirming widespread near-surface mineralisation.
Complementing these drilling successes, Raiden completed a 10.6-kilometre Induced Polarisation (IP) geophysical survey that delineated multiple new chargeability and resistivity anomalies. These anomalies correspond to structural trends that could host further gold and silver mineralisation, expanding the project’s footprint and refining future drill targets.
Silver Skarn Anomaly Permitting and Future Drilling
While drilling activities at Vuzel have been temporarily paused pending permit approvals, the company is actively pursuing access to test the Skarn Silver Anomaly, a substantial 500 by 300-metre silver-in-soil footprint with compelling pathfinder elements such as lead, zinc, and copper. Historical sampling and drilling have revealed high-grade silver intervals, including 9 metres at 63.7 grams per tonne silver from surface, suggesting a significant and continuous mineralised zone.
Raiden plans to integrate historical data with the recent IP survey results to prioritise high-impact drill targets along this limestone/tuff contact zone. The silver anomaly is viewed as complementary to the ongoing gold exploration, potentially adding a valuable dimension to the Vuzel project’s resource base.
Corporate Developments and Financial Position
On the corporate front, Raiden retained 100% ownership of the Mt Sholl Project in Western Australia after First Quantum Minerals formally withdrew from their memorandum of understanding. This retention includes the benefits of extensive work completed by First Quantum, such as drilling, geophysical surveys, and the discovery of the Keel prospect, positioning Raiden well for future development options.
The company also continues to evaluate acquisition opportunities and potential divestments to enhance shareholder value, with several prospects under advanced review. Financially, Raiden maintains a healthy cash balance of A$13.25 million as of 30 September 2025, providing a solid foundation to fund ongoing exploration and corporate initiatives.
Overall, Raiden’s September quarter report underscores a period of strategic consolidation and promising exploration results, setting the stage for potentially transformative developments at both its European and Australian assets.
Bottom Line?
Raiden’s exploration momentum at Vuzel and strategic asset control at Mt Sholl position it well, but permit approvals and execution on new targets will be critical next steps.
Questions in the middle?
- When will Raiden secure permits to resume drilling at the Skarn Silver Anomaly?
- How might the new IP survey targets translate into resource upgrades or expansions?
- What are the timelines and prospects for potential acquisitions or divestments under Raiden’s updated corporate strategy?
