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Raiden ahead of Sholl Schedule

21 October 2022 10:47
ASX: RDN
RDN Sholl Twin

Raiden Resources are on the home stretch at Mt Sholl, with drilling expected to wrap up two days ahead of schedule and the company anticipating a 100 per cent success rate on its maiden campaign.

Drilling has pulled up even more visual massive, semi-massive and disseminated nickel-copper bearing sulphides across both the A1 and B1 deposits.

So far, all completed holes have intercepted visual nickel and copper mineralisation, in line with the company’s modelling, and if the final two holes drilled tomorrow return similar results, the campaign can claim complete success.

The results found from A1 and B1 are similar to those found at the B2 deposit, logging pyrrhotite, chalcopyrite and pentlandite in intersections across significant widths.

The company said it believes results show continuity between the three deposits.

“These early visual results provide confidence in the historical drilling and we are hopeful the laboratory results will confirm historical values,” managing director Dusko Ljubojevic said.

“With the drilling program completed well ahead of the planned schedule, we anticipate this will also result in a saving from the budgeted amount, allowing us to deploy further funds towards planned metallurgical evaluations; further targeting on the project and JORC resource modelling.”

Raiden has sent the preliminary results to be interpreted and quality controlled, with initial assay results expected to be returned throughout November.

RDN’s Australian Stock Exchange-listed share price was trading at 0.8c today (10.13 am UTC+ 8 hours).

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