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Highlights
- The 10-hole RC drilling program at the Mt Sholl Project has intercepted significant mineralisation and identified new targets.
- Results indicate significant potential for expanding the current mineral resource.
- Pending PGE and gold (Au) assays, which could further enhance the reported findings.
- RDN shares surged 8.33% following the release of positive drilling results.
Raiden Resources Limited (ASX:RDN) has reported significant new discoveries and extensions of nickel-copper mineralisation based on assays from a 10-hole reverse circulation (RC) drilling program at the Mt Sholl Project in Western Australia.
The program, conducted by First Quantum Minerals, aimed to analyse geophysical anomalies and mapped targets that may represent extensions of the existing mineralisation.
Key results include:
A1 deposit: Recent drilling has confirmed significant mineralisation at depth, with notable intercepts:
- Hole 24SHLRC005: 63m at 0.43% Ni+Cu and 148.45 ppm Co
- Hole 24SHLRC010: 47m at 0.48% Ni+Cu and 174.11 ppm Co
Keel Target: Shallow mineralisation was intersected at hole 24SHLRC006.
- Hole 24SHLRC006: 43m at 35% Ni+Cu and 136.35 ppm Co
B2 deposit: Two RC holes drilled at the B2 deposit intersected Cu-Ni mineralisation down-dip from the existing resource, with standout intercepts:
- Hole 24SHLRC001:
- 33m at 0.28% Ni+Cu and 121.24 ppm Co
- 38m at 0.30% Ni+Cu and 145.18 ppm Co
- 84m at 0.24% Ni+Cu and 125.04 ppm Co
- Hole 24SHLRC002: 103m at 0.22% Ni+Cu and 140.67 ppm Co
The RC drilling results indicate the potential for expanding the mineral resource. PGE and Au assays are still pending and are expected to enhance these results further.
RDN Shares Surge
RDN shares were trading 8.33% higher at AUD 0.006 per share at the time of writing on 27 February 2025.
