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Raiden spot Mt Sholl sulphide

29 September 2022 12:00
ASX: RDN
RDN Core

Initial results from drilling at Raiden Resources‘ Mt Sholl is off to a flying start, with the first four holes on the B2 deposit all intercepting visible wide and near-surface mineralisation of nickel-copper bearing sulphides at the Pilbara project.

Massive, semi-massive and disseminated nickel-copper bearing sulphide mineralisation intersections also logged pentlandite, pyrrhotite, and chalcopyrite.

The campaign was designed to target nickel, copper, cobalt and platinum group element mineralisation across three deposits defined by historical drilling data.

Located just ten kilometres from the famed Radio Hill mine and seeing close to 80 thousand metres of drilling since 1970, Mt Sholl has been a hot ticket historically, and now the Pilbara project looks to emerge as a mountain of Australian nickel.

The company said the intersections were all in line with its modelling.

“Other than providing confirmation of historical results, the drilling will ensure we obtain rock density information, as well as, material for future metallurgical studies and resource modelling all of which will be used to advance the project,” managing director Dusko Ljubojevic said.

Drilling will continue testing the remainder of the deposit along strike before Raiden furthers drilling to confirm mineralisation on both B1 and A1n deposits.

Investors are taking notice, with RDN’s ASX-listed share price jumping 29.41 per cent to trade at 1.1c after moving 91.8 million shares (10:41 UTC +8 hours).

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