Raiden Resources Limited (ASX: RDN) has identified 40 new targets at its flagship Arrow property in the Pilbara region of Western Australia following interpretation of detailed magnetic data.
Managing Director, Dusko Ljubojevic, said interpretation was undertaken by Terra Resources with detailed airborne magnetic data acquired across the northern Arrow tenement by MAGSPEC Airborne Surveys Pty Ltd (MAGSPEC) in April.
The high resolution magnetic survey undertaken across Arrow, has significantly increased our confidence in the targets and has resulted in a quantum of additional targets warranting investigation,” Mr Ljubojevic said.
“We will initiate field verification of the various targets immediately in order to prioritise the targets, as well as undertake IP across high priority areas. At the same time permitting for drill rig access will commence concurrently.”
Data was collected along north-south traverse lines spaced 25 metres apart from a nominal flying height of 30 metres above the ground. Preliminary processing was completed by MAGSPEC, with additional processing and interpretation completed by Terra Resources Pty Ltd.
Interpretation at 1:20 000 scale has provided detailed information on likely rock types and geological structures. 40 intrusion related targets were defined. The magnetic response is indicative of intrusions and also included zones of demagnetisation and possible hydrothermal alteration associated with mineralisation. Small volume Indee Suite intrusions are intimately associated with gold mineralisation at De Grey’s Hemi deposit.
Gold is located in and around these bodies within northeast-southwest striking shear zones adjacent to a larger Indee Suite stock.
The geological setting of Arrow is identical to Hemi: at Arrow numerous small volume Indee Suite intrusions occur within a series of northeast-southwest striking shear zones adjacent to the larger Indee Suite Peawah Granodiorite.
Targeting at Arrow is based around identifying the intrusions, host structures and products of gold-related hydrothermal alteration.
Planned Work Field evaluation of all defined targets is planned, with IP surveys across high priority areas. IP aims to identify sulphides potentially associated with gold mineralisation, a process used by De Grey Mining to define targets at Hemi.
The company will also commence with drill access permitting on key target areas and engaging with drilling contractors, with the objective of drill testing the key targets as soon as possible.