Announcement Date: 2022-10-24
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Raiden Resources Ltd.
Project name: Mt Sholl
Location: Australia
Commodities: Gold,Palladium,Platinum,Silver,Copper,Nickel,Cobalt
Highlight: Drilling results incl. 24.5m at 0.52% Ni, 0.75% Cu, 207ppm Co, 0.68g/t Pd, 0.13g/t Pt, 0.06g/t Au, 3.57g/t Ag from 43.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Raiden Resources Limited (ASX: RDN) (“Raiden” or “the Company”) is pleased to report on the initial assay results from the recently completed Mt Sholl drilling program. Mr Dusko Ljubojevic, Managing Director of Raiden commented: “The high grades and the widths intersected in the initial holes at Mt Sholl are exciting to say the least. The consistency of the mineralisation across the sections to date is very encouraging and continue to support management’s view that Mt Sholl has the potential to develop into Australia’s next exciting Nickel-Copper-PGE deposit. In particular, we are encouraged by the significant PGE values, which are associated with the high nickel and copper values, in particular, Palladium which is associated with most of the higher-grade intercepts. These initial results correlate very well to the modelling of mineralisation on the northern segment of the B2 deposit, which extends over a 2.5km strike length and remains open along strike. We eagerly await further results and will be reporting them on an ongoing basis.” The company completed a total of 39 diamond holes for 4,204m between 19 September and 23 October 2022. The assays and intercepts just reported are from the first four holes drilled by the Company during its maiden drill program at Mt Sholl and they have allowed Company geologists to see the mineralisation styles, and host rocks at the B2 deposit for the first time.
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