Ragmar Metals (ASX:RAG) -
Source: Ragmar Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ragnar Metals (RAG) discovers high-grade nickel and copper mineralisation its the Tullsta Project in Sweden
  • Last month, the company drilled four holes at the project to target sulphide mineralisation in the Granmuren Deeps discovery zone
  • Drilling also extended the mineralisation over a 140-metre strike along the base of the intrusion and remains open in all directions
  • Ragnar plans to conduct surveying and other work to support the next phase of drilling at the Tullsta Project
  • Company shares are trading in the grey at 6.8 cents at 11:12 am AEST

Ragnar Metals (RAG) has discovered high-grade nickel and copper at the Tullsta Project in Sweden.

In June, Ragnar completed a four-hole diamond drilling program which included 2238 metres.

Assays from the drilling program confirmed nickel-copper mineralisation is present within the sulphides intersected in hole 21DDTS002.

Drilling also extended the mineralisation over a strike length of 140 metres along the base of the intrusion and remains open in all directions.

Results showed an overall mineralised zone of 60.2 metres at 0.75 per cent nickel and 0.47 per cent copper from 498.2 metres to 558.4 metres which includes broad high-grade results from the upper, central, blebby, lower and basal contact zones.

Chairman Steve Formica said he was pleased with the high-grade results.

“I am extremely pleased that XRF assays for 21DDTS002 have returned nickel and copper grades in line or better than Sakatti and these results validate the exploration approach of Ragnar’s technical team,” Mr Formica said.

Ragnar’s Consulting Geologist, Neil Hutchison, also commented on the latest results: “Three of the four completed holes have intersected significant widths and tenor of nickel-copper sulphide mineralisation in our maiden drilling program of the Granmuren Deeps target zone. This is a remarkable strike rate that has delivered outstanding quality and grades of high tenor magmatic nickel-copper bearing sulphide mineralisation.”

Ragnar Metals plans to conduct downhole electromagnetic surveying and other work to support the next phase of drilling at the Tullsta Project.

Company shares are trading in the grey at 6.8 cents at 11:12 am AEST.

RAG by the numbers
More From The Market Herald

" Jervois Global (ASX:JRV) sees higher costs to bring its Idaho cobalt operation to production

Jervois Global (ASX:JRV) will experience higher costs to bring its Idaho cobalt operation (ICO) in the…
The Market Herald Video

" Aeris Resources’ (ASX:AIS) Round Oak buy gets “overwhelming” shareholder approval

Aeris Resources (ASX:AIS) has received "strong support" from its shareholders at the Extraordinary General Meeting over…
The Market Herald Video

" Parkway Corporate (ASX:PWN) boosts stake in Karinga Lakes project to 40pc

Parkway Corporate (ASX:PWN) has increased its ownership of the Karinga Lakes potash project (KLPP) in the…
The Market Herald Video

" Horizon Minerals (ASX:HRZ) eyes $6m for WA projects

Emerging mid-tier gold producer Horizon Minerals (ASX:HRZ) has received firm commitments to raise $4 million via…