Ragnar kicks off maiden drilling at Sweden’s Harnäs chasing ‘highly prospective, high-grade’ gold system

• Ragnar’s maiden diamond drilling program at Harnäs a significant milestone in advancing a high-grade gold system.
• CY26 program to test down-dip extension of known gold mineralisation.
• High-grade historical drill intercepts remain open at depth.

Ragnar Metals (ASX:RAG) is chasing the depth potential of the high-grade Harnäs gold project in Sweden with a maiden diamond drilling program now underway. The 12-diamond drillhole program is seeking to test the down-dip extension of historical high-grade mineralisation, which remains open at depth.

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The phase one program of ~1,200 metres will also target high-priority zones defined from recent geological, geochemical and geophysical programs, including DDIP reprocessing, channel sampling and rock chip results.

Ragnar’s executive director, Eddie King, said CY26 drilling is designed to confirm the geometry and continuity of high-grade gold mineralisation.

“The commencement of drilling at Harnäs represents a major milestone for Ragnar as we begin systematically testing what we believe is a highly prospective, high-grade gold system,” he told shareholders today.

“Our recent work has significantly enhanced our understanding of the structural controls on mineralisation, with multiple high-priority targets now defined from DDIP, sampling, and geochemistry. Importantly, we are seeing strong evidence for multiple high-grade shoots open along strike and at depth.

“This initial program is designed to validate our geological model and unlock the broader scale potential for gold at Harnäs. With drilling underway, we look forward to delivering a steady flow of results as we advance Harnäs towards resource definition.”

Assay returns from drilling are expected within six to eight weeks, with results to be used to guide follow-up drilling and support future resource definition.

In the meantime, Ragnar continues to advance multiple work programs at Harnäs, including the acquisition of a 25-metre line-spaced UAV magnetic survey with final processing and interpretation pending.

Mr King said that dataset is expected to enhance geological and structural resolution across the project area and assist in refining drill targeting.

The Australian company is also conducting downhole IP surveys on selected drill holes to identify additional sulphide mineralisation beyond the drilled intercepts.

Mr King told Ragnar shareholders this is particularly relevant given the association of high-grade gold with disseminated pyrite, providing an effective vector for targeting mineralisation beyond the drilled intercepts.

RAG will open on Friday morning at 2.9¢. Mkt cap $14.16M.

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