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Raiden strike more Sholl sulphides

23 November 2022 12:30
ASX: RDN

Raiden Resources continue to shore up Mt Sholl, with its third batch of drill assays from its extensive drilling campaign bringing in more zones of high-grade nickel-copper-PGE sulphide mineralisation.

The new results come from a relatively underexplored area at the project’s B2 deposit and include grades up to 1.69 per cent nickel and 2.01 per cent copper taken from a 3.1-metre zone of disseminated sulphide mineralisation.

Results from B2 have so far confirmed 1000 metres of significant sulphide mineralisation and indicated it remains open in multiple directions with the company still holding undrilled electromagnetic targets along the southern strike.

Assays continue to line up with historical drilling results and the company said that of the 10.5 kilometres of strike across the project, only 4.5 km has been tested historically, leaving plenty of room for extension.

“Besides the notable high-grade mineralisation, that the program to date has consistently intercepted, it is noteworthy to point out that the deposit remains open in multiple directions. We are optimistic that future drilling programs will expand on the currently defined mineralisation,” managing director Dusko Ljubojevic said

“Furthermore, historical ground EM surveys indicate the presence of untested massive sulphide targets along the southern strike of the B2 deposit. This provides encouragement and potential for more high-grade mineralisation which will be drill tested in future programs,”

The company will continue to release results in the coming weeks as it works on modelling an updated JORC resource for the entire project.

RDN’s Australian Stock Exchange-listed share price was trading at 0.8c today (12:24 pm UTC+ 8 hours)

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