Ragnar Metals Limited (ASX: RAG) has announced that assays have confirmed “high-grade” nickel and copper intercepts from diamond drilling at its Tullsta Project in Sweden.
Sulphides were intersected in hole 21DDTS002, with Minalyzer XRF scanning returning an overall mineralised zone of 60.2m @ 0.75% Ni & 0.47% Cu from 498.2m to 558.4m (>0.5% Ni). Key results include:
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- Upper Zone: 6m @ 2.08% Ni & 1.57% Cu from 498.2m to 505.8m, including
- 1.6m @ 4.54% Ni & 0.72% Cu from 499.6m;
- 0.7m @ 1.27% Ni & 4.30% Cu from 501.2m; and
- 0.6m @ 0.42% Ni & 8.42% Cu from 505.2m
- Central Zone: 5.3m @ 2.64% Ni & 0.77% Cu from 533.1m to 538.4m, including
- 1.7m @ 4.99% Ni & 0.73% Cu
- Blebby Zone: 8.5m @ 0.33% Ni & 0.41% Cu from 538.4m to 546.9m, including
- 1.3m @ 0.42% Ni $ 1.11% Cu from 538.7m
- Lower Zone: 3.3m @ 0.84% Ni & 0.45% Cu from 546.9m to 550.2m, including
- 0.4m @ 2.83% Ni & 0.29% Cu from 547.0m; and
- 0.4m @ 2.34% Ni & 1.88% Cu from 549.8m
- Basal Contact Zone: 1.3m @ 2.99% Ni & 1.88% Cu from 557.1m to 558.4m, including
- 1.0m @ 3.71% Ni & 2.34% Cu from 557.3m
- Upper Zone: 6m @ 2.08% Ni & 1.57% Cu from 498.2m to 505.8m, including
Two subsequent drill holes 21DDTS003 and 21DDTS004 both intersected significant sulphide mineralisation on the basal contact 140m and 70m respectively away from the discovery hole, at the base of the Granmuren gabbro-pyroxenite magmatic intrusion.
Drilling was completed at Tullsta in late June with 4 diamond core holes for a total of 2,238.35m. Phase 1 drilling at the Granmuren Deeps Ni-Cu discovery zone is now complete, with laboratory assaying, DHEM, and DH-IP expected to spur the next phase of drilling.
Tullsta Project
The 93.61km² Tullsta Project is located near Sala in Sweden’s Bergslagen District, 110 kilometres north-west of Stockholm. The project comprises four contiguous granted permits, and is home to the Granmuren nickel deposit.
“I am excited for the Company and all our shareholders as Tullsta presents as a unique opportunity to be explored”
Management comments
Ragnar Metals Chairman Steve Formica said: “This diamond drill program was based on targets that showed Tullsta could be of similar geological nature to Anglo-American’s Sakatti deposit in Finland, which is being developed on the back of a significant JORC Resource with high grades of Nickel and Copper of 0.83% and 1.77%, respectively. I am extremely pleased that XRF assays for 21DDTS002 have returned Nickel and Copper grades in line or better than Sakatti and these results validate the exploration approach of Ragnar’s technical team.
In addition, the returns of visual sulphides in further holes suggest that Tullsta could be a much larger system which we will explore further with the same techniques that generated the discovery hole.
I am excited for the Company and all our shareholders as Tullsta presents as a unique opportunity to be explored, which is exhibiting high grades and potential for significant tonnages.”
Images: Ragnar Metals Limited