- Raiden Resources (RDN) defines the potential for near-surface, high-grade nickel-copper sulphide mineralisation at the Mt Sholl project in Western Australia
- The B1 deposit was trial mined in 1999 and returned 25,000 tonnes of ore with reported recoveries of 90 per cent nickel and 60 per cent copper
- However, a Raiden review of historical data indicates the B1 deposit extends 650 metres down dip and to 200 metres from the surface, with mineralisation still open to depth
- Meanwhile, drilling also defined significant mineralisation at the A1 and B2 deposits and the Kudos prospect, including nickel, copper, cobalt, PGE, silver, and gold
- Raiden Resources last traded at 1 cent on September 29
Raiden Resources (RDN) has defined the potential for near-surface, high-grade nickel-copper sulphide mineralisation at the Mt Sholl project in Western Australia.
The company today released its evaluation of the B1 historical test mining pit, which is one of four deposits at Mt Sholl.
The B1 deposit was trial mined by open pit in 1999 by Titan Resources, where around 140,000 tonnes were mined, returning 25,000 tonnes of ore. The reported recoveries by bioleaching included 90 per cent nickel and 60 per cent copper.
However, past drilling only focussed on the upper 100 metres from surface.
Data now indicates the B1 deposit extends 650 metres down dip and to 200 metres from surface, with mineralisation still open to depth.
Additionally, Raiden said around 15 per cent of the historical B1 drilling assays were not tested for platinum group elements.
Raiden Managing Director Dusko Ljubojevic said the Mt Sholl project re-interpretation had generated a “very exciting” exploration target for the company.
“The B1 historical test mining pit strongly highlights the potential for near-surface and high-grade sulphide mineralisation, clearly demonstrating the path to further mineralisation along-strike and at depth,” Mr Ljubojevic said.
“Furthermore, taking into account the significant amount of untested strike and the shallow nature of historical drilling, we believe we are presented with a significant opportunity for the company to define a substantial, stand-alone deposit in the subsequent exploration stages.”
Raiden said the B1 deposit currently represented only around 30 per cent of the total JORC exploration target, with untested potential both in strike and dip directions.
Meanwhile, drilling also defined significant mineralisation at the A1 and B2 deposits and Kudos prospect, including nickel, copper, cobalt, platinum group elements, silver and gold.
Raiden Resources last traded at 1 cent on September 29.