Raiden (ASX:RDN) continues to hit visual sulphide mineralisation at Mt Sholl

Highlights

• Raiden has unveiled a new set of robust intersections of visual sulphide mineralisation at the Mt Sholl deposits, A1 and B1.
• The diamond drilling program at the A1 and B1 deposits was completed well ahead of schedule.
• To date, all 38 holes have intersected visual Ni-Cu mineralisation and correlated well with the initial modelling.
• The company anticipates laboratory results in the near term.

Last week, Raiden Resources Limited (ASX:RDN|DAX:YM4) reported further successful hits at its flagship Mt Sholl Ni-Cu-Co-PGE Project.

The maiden diamond drilling program at Mt Sholl, which was completed during the weekend, has delivered further visual massive, semi-massive and disseminated Ni-Cu-bearing sulphide mineralisation over significant widths across the A1 and B1 deposits. The intersections are defined by pyrrhotite, chalcopyrite, and pentlandite mineralisation.

The program was finalised significantly ahead of the planned schedule. 

Is 100% success rate on maiden program on the cards?

The drilling program over the A1 and B1 deposits is part of the company's maiden drilling program over three historical deposits, namely A1, B1, and B2, at the Mt Sholl project.

This maiden drilling program aims to:

Source: © 2022 Kalkine Media®, data source: company’s update

Drilling over A1 and B1 deposits: All the 38 drill holes completed so far have delivered encouraging outcomes, intersecting visual Ni-Cu mineralisation and correlating well with initial modelling. The remaining two holes are expected to be finalised during this weekend.  

The company anticipates a 100% success rate on the maiden program.

As per Raiden, the preliminary results which are being interpreted, are quality controlled as well. The company is expecting the initial assay results shortly and throughout November.  

Latest set of encouraging results

• Hole ID - 22A1DD001 (prospect A1 and host lithology dolerite):

It hosts a 10.35-metre interval starting from 110.85 metres, containing fine-grained disseminated pyrrhotite & chalcopyrite mineralisation. The sulphide percentage stood at ~2% sulphide (visual estimate).

• Hole ID - 22A1DD002 (prospect A1 and host lithology: pyroxenite):

Fine to coarse-grained pyrrhotite and chalcopyrite are present in a 20.4-metre interval from 127.9 metres onwards. The sulphide percentage is at ~10% sulphide (visual estimate).

• Hole ID - 22B1DD003 (prospect B1 and host lithology: dolerite):

The presence of fine-grained pyrrhotite, chalcopyrite & pentlandite in the form of disseminated mineralisation is seen in a 22.2-metre interval from 85.5 metres. The value of sulphide percentage is at ~8% sulphide (visual estimate).

• Hole ID - 22B1DD004 (prospect B1 and host lithology: pyroxenite):

Fine-grained disseminated pyrrhotite, chalcopyrite & lesser pentlandite mineralisation is present in a 32.8-metre interval starting from 92.2 metres. Sulphide percentage stood at ~5% sulphide (visual estimate).

RDN shares were trading at AU$0.009 a piece midday on 26 October 2022, and its market capitalisation stood at AU$14.69 million.