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Highlights
- Raiden Resources (ASX:RDN|DAX:YM4) has completed its planned drilling operation at the B2 deposit of the Mt Sholl project.
- All 17 holes have intercepted massive nickel-copper sulphide mineralisation, indicating the presence of a near-surface, robust body of mineralisation, which remains open along strike and at depth.
- Assays for initial batches from the B2 drilling program are expected in the next 4-5 weeks.
- Raiden is now advancing drilling at the other two deposits, A1 and B1.
Raiden Resources (ASX:RDN|DAX:YM4) share price gained over 12% in the early trade on 11 October 2022 after the company announced another set of strong results from drilling at the B2 deposit of the flagship Mt Sholl Ni-Cu-Co-PGE project.
The latest drilling results include data from eight holes, showing interception of multiple intervals containing massive and disseminated nickel-copper (Ni-Cu) sulphide mineralisation.
The results are part of the 1,841.02m 17-hole diamond drill core program executed at the B2 deposit, with further drilling to continue at the A1 and B1 deposits.
The company says the results have boosted its confidence in the project, as all the holes have intercepted visual Ni-Cu mineralisation to date. The results mark the mineralisation consistency of the company’s B2 deposit.
Click here to glance through the previous drill results for the B2 deposit.
Project location (Source: RDN update)
The drilling results visually confirm the nature and continuity of mineralisation in relation to the historical drill results.
The broad and shallow intercepts of sulphide mineralisation are in line with the company’s modelling of the deposit and provide excellent support for a potential JORC resource definition.
Key highlights from the latest drill results
- Hole ID: 22B2DD011 -3 metres of Ni-Cu sulphide mineralisation occurring as fine-grained Pyrrhotite-Chalcopyrite and minor Pentlandite from 36.0 metres onwards with ~3% sulphide (Visual Estimate).
- Hole ID: 22B2DD012 -5 metres of disseminated Ni-Cu sulphide mineralisation as angular blebs of fine-grained Pyrrhotite-Chalcopyrite-Pentlandite as from 107 metres onwards. The visual estimate of sulphide stood at ~5%.
- Hole ID: 22B2DD013 - Disseminated Ni-Cu sulphide mineralisation occurring as fine-grained Pyrrhotite-Chalcopyrite and minor Pentlandite from 109.4 to 128.0 metres. The visual estimate of sulphide lies at ~12%.
- Hole ID: 22B2DD014 – Disseminated Ni-Cu sulphide mineralisation in the form of fine-grained Pyrrhotite-Chalcopyrite and minor Pentlandite is present in the interval from 151 to 70 metres. The sulphide percentage visual estimate is ~11%.
- Hole ID: 22B2DD017 – The hole contains an interval of 38.94 metres with Ni-Cu sulphide mineralisation in the form of fine-grained Pyrrhotite-Chalcopyrite-Pentlandite. The visual estimate of sulphide lies at ~11%.
Drilling advances at A1 & B1 deposits
As Raiden has completed its planned drilling operations at the B2 deposit, the focus has now shifted towards the A1 & B1 deposits, where the drilling operation is underway.
The company expects assay results from the initial batches from B2 drilling in the next 4-5 weeks.
Raiden shares traded at AU$0.008 on 12 October 2022.
