- Raiden Resources (RDN) identifies an exploration target across the A1, B1 and B2 deposits at the Mt Sholl Project in Western Australia
- The exploration target ranges from 20 million to 40 million tonnes at a grade between 0.55 per cent to 0.75 per cent nickel equivalent
- Raiden is now in the process of planning an extensive drill program on the target as well on areas where there is potential for massive nickel sulphide mineralisation
- Around 15,000 metres of reverse circulation and diamond drilling will be undertaken with work set to begin in Q1 2022 and be completed by Q3 2022
- Raiden is up eight per cent on the market with shares trading at 2.7 cents
Raiden Resources (RDN) has identified an exploration target across the A1, B1 and B2 deposits at the Mt Sholl Project.
The Mt Sholl Project lies 22 kilometres southeast of Karratha in the Pilbara region of Western Australia and is made up of two exploration licences.
The exploration target is in accordance with JORC 2012 code and ranges from 20 million to 40 million tonnes at a grade between 0.55 per cent to 0.75 per cent nickel equivalent.
The target was identified via data obtained from historical data and the recently remodelled electromagnetic (EM) targets in underexplored areas.
“The Mt Sholl Project re-interpretation has generated a very exciting exploration target for the company,” Managing Director Dusko Ljubojevic said.
“This latest interpretation of the data indicates that Mt Sholl is a real opportunity for the company to define a substantial, stand-alone deposit in the subsequent exploration stages.”
Raiden is now in the process of planning an extensive drill program for the exploration target as well on areas where remodelling has highlighted considerable potential for massive nickel sulphide mineralisation.
Around 15,000 metres of reverse circulation and diamond drilling will be undertaken with work set to begin in Q1 2022 and be completed by Q3 2022.
Raiden was up 8 per cent on the market with shares trading at 2.7 cents at 12:27 pm AEDT.