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Highlights
- Final regulatory approvals have been obtained to initiate drilling at the Mt Sholl Cu-Ni-PGE project.
- A heritage report from the Ngarluma Aboriginal Corporation confirmed no cultural heritage areas will impact on the drilling plans.
- The Program of Work (PoW) for the drilling program has been approved.
- A minimum of 3,000 metres of reverse circulation (RC) drilling will target new areas identified by First Quantum Minerals, as well as extensions of previously defined resources by Raiden.
Raiden Resources Limited (ASX:RDN, DAX:YM4) has secured the final regulatory approvals to begin drilling at its Mt Sholl Cu-Ni-PGE project. The company received a heritage report from the Ngarluma Aboriginal Corporation (NAC), confirming that no areas of cultural heritage will be affected by the drilling plans. Additionally, the PoW for the drilling program has been approved.
Details of the drilling program
The drilling program involves a minimum of 3,000m of reverse circulation (RC) drilling to test new targets identified by First Quantum Minerals and direct extensions of the mineral resource previously identified by RDN. First Quantum Minerals will manage and finance the program under the existing Memorandum of Understanding (MOU) for the Mt Sholl project.
MRE of Mt Sholl deposit
In April 2023, Raiden shared a Maiden JORC Mineral Resource Estimate (MRE) and an Exploration Target for the deposit. The MRE outlined the following resources:
Data and image source: Company update
RDN highlighted that the mineralisation is open along strike and at depth across all four deposits, with potential for further expansion through additional drilling.
RDN shares traded at AU$0.032 apiece at the time of writing on 28 October 2024.
