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- Raiden Resources (RDN) receives initial “high-grade” results from maiden drilling at the B2 deposit within its Mt Sholl project in Western Australia
- Results include 24.5 metres at 1.27 per cent nickel equivalent from 43 metres, confirming broad, near-surface nickel-copper-platinum group element sulphide mineralisation at B2
- MD Dusko Ljubojevic says the results are “very encouraging” and support RDN’s belief that Mt Sholl has the potential to be Australia’s “next exciting nickel-copper-PGE deposit”
- The company is waiting on assays for the remaining drill holes, which have all intersected visual mineralisation
- Raiden shares are up 12.5 per cent to trade at 0.9 cents at 11:56 am AEDT
Raiden Resources (RDN) has confirmed broad, near-surface nickel-copper-platinum group element (PGE) sulphide mineralisation at the B2 deposit within its Mt Sholl project in WA.
Raiden received assays from the first four out of 39 diamond holes drilled under its maiden drilling program, with the initial holes confirming high-grade sulphide mineralisation at B2.
Highlighted results include 24.5 metres at 1.27 per cent nickel equivalent from 43 metres, including three metres at 1.72 per cent nickel equivalent from 53 metres, and 19.58 metres at 1.67 per cent nickel equivalent from 31.92 metres, including 5.58 metres at 2.65 per cent nickel equivalent from 41.5 metres.
Raiden Managing Director Dusko Ljubojevic said these initial results were “exciting, to say the least”.
“The consistency of the mineralisation across the sections to date is very encouraging and continues to support management’s view that Mt Sholl has the potential to develop into Australia’s next exciting nickel-copper-PGE deposit,” Mr Ljubojevic said.
“These initial results correlate very well to the modelling of mineralisation on the northern segment of the B2 deposit, which extends over a 2.5-kilometre strike length and remains open along strike.”
The company is waiting on assays for the remaining drill holes, all of which have reportedly intersected visual mineralisation.
Raiden shares were up 12.5 per cent to trade at 0.9 cents at 11:56 am AEDT.
