Raiden (ASX:RDN) continues to welcome high-grade Ni-Cu-PGE drill intercepts from Mt Sholl

Highlights:

• Raiden Resources is riding high on the back of a new update on the recently completed Mt Sholl drilling program.
• Latest assays have delivered high-grade zones of nickel-copper-PGE sulphide mineralisation, including notable high-grade intercepts from the hole 22B2DD013
  • 1m @ 1.69% Ni; 2.01% Cu; 2.79g/t 3E; 568ppm Co and 10.37g/t Ag (or 3.1m @ 3.83% Ni Eq) from 116.4m and
  • 3m @ 2.88% Ni; 0.61% Cu; 2.65g/t 3E; 1,340ppm Co; 4.30g/t Ag (or 0.3m @ 4.34% Ni Eq) from 109.4m
• The company highlights that the mineralisation and assays continue to correlate with historical drilling and signify that the deposit remains open in multiple directions.
• The defined EM targets (undrilled) reveal the possibility for massive sulphide mineralisation along the southern strike of the B2 deposit.
• The company is engaged in actively modelling an updated JORC resource for the entire project area, as well as, defining deposit extensions for further testing.

Raiden Resources Limited (ASX:RDN|DAX:YM4) has reported another set of highly encouraging assay results from the recently completed Mt Sholl drilling program.

The results highlighted high-grade zones of nickel-copper-PGE sulphide mineralisation, including notable high-grade intercepts.

The company says that the mineralisation and assays continue to correlate with historical drilling and signify that the deposit remains open in multiple directions.

(Source: © 2022 Kalkine Media®, data source: company update, 23 November 2022)

Latest assays and intercepts deliver high-grade zones of sulphide mineralisation

Raiden completed maiden drilling at the project covering 4,204m via 39 diamond holes. The company has received nearly 75% of drill assays from drilling at the B2 deposit, with ongoing results expected from the remaining part of B2, A1 and B1 deposits.

The latest results from the third batch of samples indicated notable high-grade intercepts from the hole 22B2DD013. A 3.1m zone of disseminated sulphide mineralisation in this hole was intercepted from 116.4 metres. The section includes pyrrhotite, chalcopyrite, with lesser pentlandite mineralisation. The interval also holds 1.69% nickel and 2.01% copper.

Based on the results, the company has also highlighted that the mineralisation remains open down dip to the east, which may provide the potential for extending the high-grade zone.

The notable high-grade intercepts from this hole are:

• 1m @ 1.69% Ni; 2.01% Cu; 2.79g/t 3E; 568ppm Co and 10.37g/t Ag (or 3.1m @ 3.83% Ni Eq) from 116.4m and
• 3m @ 2.88% nickel; 0.61% copper; 2.65g/t 3E; 1,340ppm cobalt; 4.30g/t silver (or 0.3m @ 4.34% nickel equivalent grade) from 109.4m

Results from other assays received include:

(Source: company update, 23 November 2022) 

EM conductors emphasise great potential for massive sulphide mineralisation

A downhole electromagnetic survey (DHEM) on historical holes has produced electromagnetic (EM) conductors, showing great potential for massive sulphide mineralisation of the mineralised contact at the B2 deposit.

(Source: company update, 23 November 2022)

This prospective mineralised contact extends over ~3.5km, of which Raiden’s results to date confirm 1,000m of significant sulphide mineralisation.

Over the total 10.5km of the prospective strike across the project area, only ~4.3km has been drill tested historically. As per the company, this scenario offers an opportunity to define further near-surface mineralisation on the project.

On top of it, the company believes that there exists a potential for a significantly larger discovery based on the mineralisation, which remains open to depth.  

The last drill holes included massive, semi-massive, stringer and disseminated mineralisation. An ultramafic pyroxenite has also been logged in some discrete areas hosting massive and disseminated sulphide mineralisation. This indicates the possibility of multiple units hosting mineralisation within the ultramafic sequence.

Raiden’s shares traded at AU$0.008 in the early hours of 24 November 2022, and its market capitalisation stood at AU$13.05 million.