Can Raiden’s Expanded Drilling Unlock Vuzel’s High-Grade Gold Potential?

Expanding Exploration Horizons

Raiden Resources Limited has announced a significant expansion of its Phase 2 diamond drilling campaign at the Vuzel Gold Project in south-eastern Bulgaria. The company will add an additional 2,000 meters to its drilling program, doubling the total planned drilling to 4,000 meters. This decision follows a string of encouraging results, with every hole drilled so far revealing near-surface gold mineralisation, including several high-grade intercepts.

Consistent Gold Mineralisation Drives Confidence

According to Managing Director Dusko Ljubojevic, the consistent presence of gold mineralisation across all holes has reinforced the view that Vuzel hosts a potentially large-scale, near-surface epithermal gold system. The mineralisation appears to be extensive and largely horizontal to sub-horizontal, characteristics that lend themselves to cost-effective and rapid exploration. Notable intercepts include 24.8 meters at 1.96 grams per tonne gold starting from surface and 56 meters at 1.09 grams per tonne gold, highlighting the project's promising grade and scale.

Strategic Targeting and Structural Insights

The expanded drilling program aims to refine the geological understanding of the mineralised system's geometry and test strike extensions within a 3 to 4-kilometer corridor of anomalous gold. A key focus is on identifying potential high-grade feeder zones, which could significantly enhance the project's economic potential. The ongoing drilling also seeks to clarify structural controls that influence mineralisation, providing a more targeted approach to future exploration efforts.

Ownership Milestones and Regional Context

Raiden has recently met the investment criteria to increase its ownership stake in the Vuzel project to 75%, with a clear pathway to 90% ownership contingent on defining a JORC-compliant gold resource. The project's location is strategically advantageous, situated less than 20 kilometers from established third-party gold processing infrastructure. Additionally, recent regional mergers and acquisitions, such as the US$59 million Rozino transaction, underscore the growing value and interest in Bulgaria's gold sector.

Looking Ahead

With drilling ongoing and further results expected in the coming weeks, Raiden is positioning Vuzel as a cornerstone asset within its portfolio. The expanded drilling program not only aims to delineate the mineralised system more clearly but also to accelerate progress towards a maiden resource estimate, which could unlock further ownership and development opportunities.