- Raiden Resources (RDN) secures two diamond drill rigs for its upcoming drill program at its flagship Mt Sholl project in WA
- The rigs will be mobilised to the site, with drilling due to commence as soon as the heritage report is completed
- The company has completed the heritage survey with the traditional land owners and the heritage report is expected in two weeks
- The 5000-metre diamond drill program aims to verify historical results, test certain geological concepts, and provide sample material for initial metallurgical testing
- Shares in the company are up 12.5 per cent, trading at 0.9 cents at 11:28 am AEST
Raiden Resources (RDN) has secured two diamond drill rigs for its upcoming drill program at its flagship Mt Sholl project in WA.
The company engaged Topdrill to undertake the program and will pay up to 30 per cent of the invoice in Raiden stock.
The rigs will be mobilised to the site, with drilling due to commence as soon as the heritage report is completed.
The heritage survey has been completed over the project area with the traditional land owners and the heritage report is expected in two weeks.
The 5000-metre diamond drill program aims to verify historical results, test certain geological concepts, and provide sample material for initial metallurgical testing.
Managing Director Dusko Ljubojevic said he believes the company is well placed to progress the Mt Sholl deposits.
“With nickel predicted to be a crucial resource in the electrification of vehicles and with Mt Sholl indicating the potential to be one of the few open-pit nickel-sulphide mines in the world’s premier mining jurisdiction of WA, we believe this asset could potentially generate significant value for our shareholders,” he said.
Shares in the company were up 12.5 per cent, trading at 0.9 cents at 11:28 am AEST.