FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Raiden go massive at B2

11 October 2022 14:01
ASX: RDN

Raiden Resources have finished up drilling of the B2 deposit, once again striking massive nickel copper sulphide mineralisation at Mt Sholl in the Western Australian Pilbara.

The final eight holes came off the heels of a hot start to drilling — and made it 17 from 17 pulling up visual nickel copper sulphide mineralisation.

Results are lining up with Raiden’s modelling of the deposit, supporting a potential JORC resource definition.

Modelling was based on just under 80 thousand metres of drilling completed at Mt Sholl since 1970 which indicated the project could become a significant player in Australian nickel, with drilling confirming the nature and continuity of mineralisation.

The company said it had already seen massive sulphide intervals from several holes on the deposit.

“The broad and shallow intervals of sulphide mineralisation are all supporting the company’s model and indicate the presence of a near-surface, robust body of mineralisation, which remains open along strike and at depth” managing director Dusko Ljubojevic said.

Initial batches have been dispatched to the lab with results expected in a few weeks, with commenced drilling hoping to replicate success at the A1 and B1 deposits.

RDN’s Australian Stock Exchange-listed share price has risen 12.5 per cent today, currently selling at 0.9c (12:31 pm UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This