Raiden (ASX:RDN|DAX:YM4) historical mining indicates potential for near-surface, high-grade Ni-Cu sulphide mineralisation at Mt Sholl project

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Raiden (ASX:RDN|DAX:YM4) historical mining indicates potential for near-surface, high-grade Ni-Cu sulphide mineralisation at Mt Sholl project

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 Raiden (ASX:RDN|DAX:YM4) historical mining indicates potential for near-surface, high-grade Ni-Cu sulphide mineralisation at Mt Sholl project
Image source: Company’s update, 30 September 2022

Highlights

  • Raiden Resources (ASX:RDN|DAX:YM4) updated the market on the evaluation of the B1 historical test mining pit along with the exploration potential of the B1 deposit.
  • The company has reported the potential for near-surface, high-grade nickel-copper (Ni-Cu) sulphide mineralisation which is based on historical mining.
  • According to Raiden, historically, Ni-Cu was assayed disproportionally higher than cobalt, platinum group elements, silver, and gold.

Diversified mineral explorer Raiden Resources Limited (ASX:RDN|DAX:YM4) has been consistently advancing its flagship nickel-copper-cobalt-platinum group element (Ni-Cu-Co-PGE) Mt Sholl project. In a recent update, RDN reported the evaluation of the B1 deposit’s historical test mining pit and the exploration potential of the deposit.

The historical drilling defined the potential for near-surface, high-grade Ni-Cu sulphide mineralisation. The historical mining tested a +150 m wide, 25 m average thickness mineralised zone at the B1 deposit, with grades ranging from 0.64% nickel equivalent (Ni_Eq) to 1.67% Ni_Eq.

Source: © 2022 Kalkine Media®; Data Source: Company’s update

For further insights into the Mt Sholl project, click here.

Summary: B1 historic drilling and assaying

Historical mining: Out of ~145,000 t that were trial mined by Titan Resources NL in 1999 by open pit, ~25,000 t of ore was reported at the Mt Sholl B1 deposit. The ore was processed at the pilot heap leach plant, Radio Hill, using bacterial heap leaching, with 90% nickel and 60% copper being recovered from the heap leach.

Source: Company’s update, 30 September 2022

Historical drilling: The Fox Resources drilling program focused on the upper 100 m from the surface via 100 drill holes drilled for 6,571 m in search of a near-term feed to be mined by open pit for the Radio Hill processing facility, which is located ~12 km from the B1 test pit. The company has said that the data indicates that the B1 deposit extends 650 m down dip and 200 m from the surface, with mineralisation still open to depth.

Historical intercepts indicate the potential for high-grade sulphide mineralisation, reporting values as high as 1.88% Ni_Eq over 22 m at B1 in hole B1RC149, including 5 m at 2.86% Ni_Eq.

However, only 920 m of the prospective 4,200 m pyroxenite contact strike length has been drill tested historically at B1. The deposit at B1 currently represents only ~30% of the total JORC exploration target, with the potential in the strike and dip directions being untested.

 

 

Source: Company’s update, 30 September 2022

Historical assaying: The assays of the B1 drilling program samples were not systematically tested for the full suite of elements known to be present in the Mt Sholl deposits. For instance, ~15% of the historical B1 drilling assays were not assayed for PGEs. According to Raiden, Ni-Cu was assayed disproportionally higher compared with Co-PGEs-Ag-Au.

Source: Company’s update, 30 September 2022

 

 

 

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