- Raiden Resources (RDN) reports high-grade drilling intercepts from the B2 deposit within its Mt Sholl project in Western Australia
- The hits come from RDN’s maiden drilling work in the area and include a 3.1-metre zone of high-grade nickel, copper, cobalt and platinum group element mineralisation
- The deposit remains open in multiple directions, which the company says leaves room to expand on the currently-defined mineralisation
- Raiden shares are trading at 0.8 cents at 1:32 pm AEDT
Raiden Resources (RDN) has reported high-grade drilling intercepts from its third batch of samples collected from the Mt Sholl project in Western Australia.
The samples were taken from a maiden drilling program in the area, which included 39 holes for 4204 metres.
Among the new assays is a 3.1-metre zone of disseminated sulphide mineralisation from 116.4 metres at the B2 deposit in the project area.
This zone returned grades of 1.69 per cent nickel, 2.01 per cent copper, 2.79 grams per tonne (g/t) 3E (palladium, platinum and gold), 568 parts per million (ppm) cobalt and 10.37 g/t silver.
The same hole also returned a higher-grade intercept of 0.3 metres at 2.88 per cent nickel, 0.61 per cent copper, 2.65 g/t 3E, 1340 ppm cobalt, and 4.3g/t silver from 109.4 metres.
The company said the mineralisation and assays from this program continued to correlate with historical drilling and indicated that the deposit remained open in multiple directions.
“Besides the notable high-grade mineralisation that the program to date has consistently intercepted, it is noteworthy to point out that the deposit remains open in multiple directions,” Managing Director Dusko Ljubojevic said.
“We are optimistic that future drilling programs will expand on the currently defined mineralisation.”
Additionally, historical electromagnetic surveys have indicated the presence of massive sulphide targets along the southern strike of the B2 deposit, which are yet to be tested.
Due to this, Raiden sees potential for more high-grade mineralisation, which will be drill tested in future programs.
RDN shares were trading at 0.8 cents at 1:32 pm AEDT.