IP survey shows ‘significant upside potential’ of Raiden Resources (ASX: RDN) Mt Sholl Ni-Cu-PGE project

Highlights

• Induced polarisation (IP) survey at the B2 Ni-Cu-PGE deposit within the Mt Sholl project suggested that mineralisation extends to depth east of the deposit.
• IP data has confirmed 1km chargeability anomaly that aligns with southwest plunge of B2 mineralisation.
• The survey has indicated a substantial potential for additional mineralisation over the B2 deposit.

Raiden Resources (ASX: RDN, DAX: YM4) has shared encouraging results from IP orientation survey which was carried out on the B2 Ni-Cu-PGE deposit area within the Mt Sholl project. In December 2023, the survey was completed by First Quantum.

The IP survey indicates significant upside potential at the project.

Significant IP survey results reported at Mt Sholl

The IP survey was undertaken at the northern extent of the deposit. For the survey, a gradient array method was utilised, and then with two dipole-dipole sections, defined anomalous zones were followed up.

The survey aimed at investigating method for assessing recognised mineralisation in order to understand potential outcomes in the disseminated mineralisation style.

Data source: Company update

After the identification of this anomalous zone, the dipole-dipole IP survey methods were employed across two sections to define the chargeability response. The results have established chargeability response that appears to align with the modelled south-west plunge of the B2 mineralisation.

The chargeability anomaly is detected within 150m of surface in the southern cross-section, and there has been no prior drilling conducted in this area.

The company highlighted that the northern part of this chargeability is not fully explored as only shallow drilling was conducted over the defined anomaly to date.

First Quantum plans to undertake further work at Mt Sholl, which might include a ground electromagnetic (EM) survey. The EM survey will aid in defining additional promising areas for massive sulphide mineralisation that are already identified within the lower tenor disseminated mineralisation zones on the deposits.

RDN shares traded at AU$0.025 apiece at the time of writing on 22 February 2024.