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Ragnar set on Swedish Sulphides

22 December 2022 09:30
ASX: RAG

Ragnar Metals have confirmed a new high-grade zone at its Tullsta project’s Granmuren nickel-copper discovery in Sweden, with preliminary drill assays showing grades up to 30m at 0.8% Ni, 0.5% Cu & 0.1% Co.

These are the highest grades uncovered to date at the Granmuren discovery’s upper zone, with assays supporting the depositional model that will assist Ragnar in discovery efforts focused on the basal massive sulphide zone.

Results were returned from two separate holes, with hole 22DDTS010 returning multiple intervals of variably disseminated, blebby, matric, vein, semi-massive and massive nickel-copper-cobalt sulphide and with hole 22DDTS009 returning a significant interval of moderate tenor disseminated nickel- copper-cobalt sulphides.

Assays are still pending for one further drill hole which intersected 137 metres containing 8 per cent visual sulphides.

The company said it is now re-evaluating a previous VTEM survey over Granmuren to evaluate further targets at the highly-prospective package.

“The Project continues to deliver excellent results and confirms our belief that the best is yet to come at depth. We also firmly believe this is a highly prospective regional ground holding, and with ongoing drilling, we are confident there will be further discoveries,” said executive director Eddie King.

Once final assays are returned, Ragnar plans to combine the results with upcoming downhole electromagnetic and IP data surveys set for January to create an accurate 3D model of the project.

RAG’s Australian Stock Exchange-listed share price has risen 6.66 per cent today, currently selling at 1.6c (8.48 am UTC+ 8 hours).

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