Raiden Resources Limited (ASX: RDN) has received positive initial assay results from the recently completed Mt Sholl drilling programme in Western Australia.
“The high grades and the widths intersected in the initial holes at Mt Sholl are exciting to say the least,” Managing Director, Dusko Ljubojevic, said.
“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 September 19 and October 23, 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.
The prospective mineralised contact between the layered intrusive host rocks of the B2 deposit and the surrounding basaltic country rock extends for approximately 3.5km, of which Raiden’s recent drilling is only testing a 1.2km strike length.
Historic drilling has tested a further 1.3km of strike and will assist in the planning of future
drilling campaigns.
The mineralisation styles intersected in Raiden’s holes included massive, semi-massive, stringer, and disseminated mineralisation within a predominantly gabbro/dolerite host rock bounded by basalt flows above and below the mineralisation. In some discrete areas an ultramafic unit, a pyroxenite, has been logged and this also hosts disseminated sulphide mineralisation.
Sulphide mineralisation intersected has been predominantly fine grained pyrrhotite, chalcopyrite and pentlandite occurring in all of the mineralisation styles mentioned above.
Mt Sholl Ni-Cu-PGE Project Overview
The consolidated tenements are located 22 km southeast of Karratha and 10 km northeast of the mothballed Radio Hill mine in the Pilbara region of Western Australia, covering a total land area of 42 sq. km.
The tenements are underlain by Paleoarchean greenstone rocks, primarily basalt, and part of the Mesoarchean Mount Sholl layered mafic-ultramafic intrusive complex. The consolidated tenements host several Ni-Cu-Co-PGE deposits, with mineralisation occurring
as disseminated, matrix, stringer and rare massive pyrrhotite-pentlandite-chalcopyrite. High pyrrhotite content in ore means that Ni-Cu mineralisation in the intrusion across the consolidated tenements could be associated with discrete magnetic highs.
Extensive work on the properties targeting Ni-Cu-Co-PGE mineralisation was conducted by a number of companies from the early 1970’s through to 2016. Exploration programs included the collection of surface samples (soil, auger and rock), airborne geophysics (magnetics, EM) and drilling (RAB, RC and diamond).
For further information please visit: http://www.raidenresources.com.au/
