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Raiden move Mt Sholl milestone

18 July 2022
ASX: RDN
Jack Baker

Raiden Resources have secured a Native Title and Heritage Exploration Agreement with the Ngarluma Aboriginal Corporation across its Mt Sholl nickel-copper-cobalt-platinum group project southeast of Karratha in the Western Australian Pilbara.

The milestone means an extensive drilling campaign to convert known deposits into JORC-compliant resources can proceed without further delay.

The site – laying just 10 kilometres to the northeast of handy infrastructure at the the Radio Hill nickel-copper-PGE mine and processing plant – will also test the extent of PGE and cobalt mineralisation running through the wholly-owned Mt Sholl licenses.

Mt Sholl about critical infrastructure and nearby JORC resources.

The company said it was a significant development, opening up the potential for a large-scale multimineral discovery.

“This is a major step forward for the Company, with access now available for the drill definition of what we believe to be an exciting, and substantial, nickel-copper-cobalt-PGE project,” managing director Dusko Ljubojevic said.

“With the project planning and evaluation phase already complete, we believe that the company is well placed to begin an aggressive exploration campaign.”

Before firing up the rig, Raiden will conduct heritage surveys across the area to ensure it avoids areas of cultural significance.

RDN’s Australian Stock Exchange-listed share price was trading at 0.8c today (9.11 am UTC+ 8 hours).

COMPANY OVERVIEW

Raiden Resources (ASX:RDN / DAX:YM4) is a dual ASX/DAX listed copper-gold exploration company which controls a strategic portfolio of projects prospective for porphyry, epithermal and orogenic styles of copper and gold mineralisation. The Company has a significant footprint in the underexplored & mineral endowed Western Tethyan Copper-Gold belt in Serbia and Bulgaria, as well as, a large portfolio of Gold projects in the emerging Pilbara gold camp in Western Australia.

COMPANY INFORMATION

ASX: RDN

Website

https://raidenresources.com.au/
https://www2.asx.com.au/markets/company/rdn

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