- Raiden Resources (RDN) receives a Programme of Work (PoW) approval to undertake drilling at its Mt Sholl nickel copper cobalt PGE project in Western Australia
- The program aims to define resources across three deposits, test direct extensions to potentially increase tonnage and drill geophysical targets to define mineralised bodies
- The company previously identified a large nickel and copper sulphide exploration target which is defined across three deposits
- The exploration program will focus on this target as well as areas recently highlighted from a remodelling of airborne ground electromagnetic data
- Shares are trading 8.33 per cent higher today at 1.3 cents each
Raiden Resources (RDN) has received a Programme of Work (PoW) approval to undertake drilling at its Mt Sholl nickel copper cobalt PGE project in Western Australia.
The approval came from the West Australian Department of Mines, Industry Regulation, and Safety with final approvals for the project being sought as soon as possible.
The drill program aims to define resources across three known deposits, test direct extensions to potentially increase tonnage, and drill test geophysical targets to define new mineralised bodies.
The company previously identified a large nickel and copper sulphide exploration target which is defined across three deposits.
The exploration program will focus on this target as well as areas recently highlighted from a remodelling of airborne ground electromagnetic data.
The drill campaign is expected to begin in the second quarter with completion in the fourth quarter.
Managing Director Dusko Ljubojevic said he is confident the company will be able to drive the project up the value curve.
“The team has been progressing the administrative procedures and permitting as quickly as practical, and we will continue in our efforts to obtain the final approvals for access on this project,” he said.
“As soon as this is completed, we plan to commence an aggressive drill campaign with the view of defining near term JORC resources and extending on the know mineralisation.”
Shares were trading 8.33 per cent higher today at 1.3 cents each at market close.