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Raiden increases battery potential in the Pilbara

13 September 2021
Rueben Hale
Battery, energy

Raiden Resources will substantially boost its battery metal potential, consolidating its Mt Sholl project with neighbouring tenements controlled by Welcome Exploration southeast of Karratha and 10 kilometres northeast of the mothballed Radio Hill mine in the Pilbara region of Western Australia.

The company, which has acquired an 80 per cent stake in Welcome, will shorty commence geophysical analysis of the adjoining territory to define extensional targets and potentially untested drill targets in preparation for a substantial drilling program to be undertaken in early next year.

The news follows recent significant high-grade results from the site, including nickel at 5.27 per cent over 1.8 metres and a 3.36 per cent stretch at nearly 5 metres recorded amongst consistent grades of copper, cobalt and palladium over more than a combined 1000m of drilling.

Raiden, which says detailed analysis of element correlations was required, is planning interpretation of historical geophysics across the acquired tenements, including 677 drill holes for approximately 80,000m of drilling.

“The consolidated tenements have provided Raiden with a significant ground package with drill proven prospectivity,” managing director Dusko Ljubojevic said.

“We are particularly encouraged by the fact that mineralisation is outcropping and has very high-grade sections within the ore body.

Raiden hopes to get underway with the drilling in the first quarter of next year, aiming to define extents of mineralisation across Mt Sholl.

The company’s Australian Stock Exchange-listed share price was 2.7c today (1:56 pm GMT+ 8 hours).

 

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