Raiden Resources (ASX:RDN) reports that it has identified visual massive, semi-massive and disseminated mineralisation from multiple drillholes following a diamond drilling (DD) operation at its flagship Ni-Cu-PGE Mt Sholl Project in WA’s Pilbara region.
The results, generated by four initial diamond drillholes have intersected near surface, broad zones of Ni-Cu sulphide mineralisation at the projects B2 deposit, with key results including:
- Hole 22B2DD001: Pyrrhotite and Chalcopyrite mineralisation from 41.85m – 67.50m (25.65m zone)
- Hole 22B2DD002: Pyrrhotite and Chalcopyrite mineralisation from 27.10m – 53.40m (26.3m zone)
- Hole 22B2DD003: Pyrrhotite mineralisation from 20.30m – 49.65m (29.35m zone)
- Hole 22B2DD004: Pyrrhotite mineralisation from 12.00m to 64.50m (52.5m zone)
Speaking on the results, Raiden Managing Director Dusko Ljubojevic said: “We are highly encouraged by these early drill intercepts. All four of the initial drill holes are intercepting visible Nickel and Copper sulphide mineralisation on the B2 deposit and in line with our modelling.
“All four of the initial drill holes are intercepting visible nickel and copper sulphide mineralisation on the b2 deposit and in line with our modelling”
The program will continue testing the remainder of the B2 deposit along the strike before we drill [to] confirm the mineralisation on the B1 and A1 deposits. Other than providing confirmation of historical results, the drilling will ensure we obtain rock density information, as well as, material for future metallurgical studies and resource modelling all of which will be used to advance the project.”
The company also notes that the identified massive, semi-massive and disseminated nickel and copper bearing sulphide mineralisation has been observed over ‘significant’ widths and at shallow depths.
In addition, the company’s share price has soared 37.50% as of 14:13pm on the back of the announcement.
The Mt Sholl Ni-Cu-PGE Project is located about 22km southeast of the township of Karratha in Western Australia’s Pilbara region and covers a total land holding of 42km-square between two exploration licences, which are 100% owned by Raiden’s subsidiary Pilbara Gold Corporation. The project is also situated about 10km northeast of the Radio Hill nickel-copper-PGE mine and associated processing infrastructure, with licences covering part of the Mt Sholl layered mafic-ultramafic intrusive complex, host to widespread Ni-Cu-PGE mineralisation.
With the current DD operation still ongoing, Raiden Resources announces it will move forward with drill testing at all three deposits hosted in the project tenement.
Images: Raiden Resources Ltd
