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Ragnar swell Swedish scale

30 September 2022 12:17
ASX: RAG

Ragnar Metals have confirmed the potential scale of the Tullsta nickel project in Sweden with drilling intersecting visual magmatic sulphides at the Garnmuren nickel-copper-cobalt deposit.

Holes were able to intersect visual sulphides at significant widths to the east and west of the success at hole 21DDTS007, which returned grades of 0.6% nickel, 0.5% copper and 0.05% cobalt over 146.3 metres — indicating the system extends further than originally believed.

A third hole, the final of phase one drilling, is being drilled perpendicular to 21DDTS007 to test the 3-dimensional nature of what could be a significant magmatic sulphide system.

The company said striking sulphides around prior success was the goal of initial drilling, and the next stage was soon ready to kick off.

“Phase one drilling demonstrates the potential scale of the Granmuren system, and we are excited the intersection of sulphides confirms the geophysical modelling to generate drill targets is working,” executive director Eddie King said.

Downhole surveys of the new holes are underway, with the core being prepared for lab analysis expected to be completed in November.

RAG’s Australian Stock Exchange-listed share price was trading at 3.1 c today (9:52 am UTC+ 8 hours).

Significant results:

Hole 22DDTS009

  • 103.0m containing 7% visual sulphide estimates (Upper Zone)
    • Including 35.1m with 11% matrix style sulphides
  • 51.5m containing 8% visual sulphides estimates (Lower Zone)
    • Including 2.88m containing 37% matrix and semi-massive sulphides

Hole 22DDTS010

  • 47.35m containing 19% visual sulphides estimates (Upper Zone)
    • Including 7.4m containing 50% semi-massive sulphides
  • 56.50m containing 6% visual sulphides estimates (Lower Zone)
    • Including 3.5m of several semi-massive sulphide zones up to 80%

RAG’s Australian Stock Exchange-listed share price was trading at 2.9c today (11:22 am UTC+ 8 hours).

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