Raiden Resources (ASX:RDN) reports the presence of near surface, broad zones of nickel (Ni) and copper (Cu) sulphide mineralisation following maiden diamond drilling (DD) activities at the B1 deposit, as part of its flagship Mt Sholl Project in Western Australia.
The results, generated by the first two diamond core drillholes of the ongoing DD program, have returned massive, semi-massive and disseminated Ni and Cu bearing sulphide mineralisation over ‘significant’ widths and at shallow depths.
The two key intercepts included; pyrrhotite and chalcopyrite mineralisation from 54.28m – 77.00m (22.7m interval) in drillhole 22B1DD001 and pyrrhotite and chalcopyrite mineralisation from 64.70m – 85.40m (20.7m interval) from drillhole 22B1DD002.
Maiden DD was commenced at the B1 deposit to confirm selected historical results and confirm Raiden’s geological model of the deposit, as well as provide material for initial metallurgical testing.
“As with B2 results, B1 is delivering from the first drill holes. Mineralisation is hosted within broad zones and mineralisation observed is as expected”
Speaking on the results, Raiden’s Managing Director, Dusko Ljubojevic, said: “As with B2 results, B1 is delivering from the first drill holes. Mineralisation is hosted within broad zones and mineralisation observed is as expected. We look forward to reporting the results from all the drill holes to date, which should provide for an exciting several months of news and updates from the drill bit.”
Raiden also notes that these results come following the conclusion of drilling at the B2 deposit, which returned additional massive and disseminated Ni and Cu mineralisation that could potentially support the definition of a JORC Mineral Resource Estimate (MRE), as announced by the company yesterday.
Raiden Resources is a dual-listed base metal-gold exploration company focused on its highly prospective portfolio across Eastern Europe’s Western Tethyan metallogenic belt and Western Australia’s Pilbara region. The company’s Mt Sholl Ni-Cu-Co-PGE project was acquired in 2021 and is believed to host a potential ‘significant’ mineral discovery.
The project is located about 22km southeast of the township of Karratha and covers a total land holding of 42km-square, with exploration activities beginning from the early 1970s through to 2016 and comprising drilling, surface sampling and airborne geophysics.
With results from the first two drillholes now returned, Raiden Resources announces that drilling operations are still ongoing at the A1 and B1 deposits.
Images: Raiden Resources Ltd