New Nickel and Copper prospects defined at Mt Sholl
Perth, Mar 22, 2024 AEST (ABN Newswire) - Raiden Resources Limited (
ASX:RDN) (YM4:FRA) is pleased to announce the results of an infill soil sampling program undertaken over the Mt Sholl North Project.
Mr Dusko Ljubojevic, Managing Director of Raiden commented:
"The nickel-copper anomaly defined on the northern trend is characterised by exceptional nickel in soil values and this new prospect represents further upside to the Mt Sholl Ni-Cu deposit. First Quantum Minerals, which is funding all base metal related work on the project, will be undertaking further target generation work on these defined prospects."
Highlights
- First Quantum Minerals infill soil sampling program defined a new significant nickel anomaly on Mt Sholl project
- The new anomaly represents potential for further upside to the existing Ni-Cu deposit
- Program confirmed and constrained a high value nickel in soil trend, with peak values up to 1,770 ppm Ni, which extends over a significant strike length of up to 1.2km in length
- First Quantum Minerals is planning to undertake further mapping over all the defined anomalies
Soil Sampling Overview
The recent program included infill sampling over the northern parts of the Mt Sholl project area, where previous work completed by Raiden defined broad nickel in soil anomalism.
The infill sampling results have defined a very high-grade nickel in soil anomaly, extending over several kilometres along a WNW striking corridor. The peak value defined was 1,770ppm Ni with multiple anomalies, constrained by >900ppm Ni values, extending across the northern parts of the project area.
All the sampling and analysis was carried out under the memorandum of understanding (MOU) with First Quantum Minerals, with First Quantum sole funding all the base metal related activities on the Mt Sholl project.
At this time, the source of the nickel anomalies is not known, but may be related to a potential VMS (Volcanogenic Massive Sulphide) system. These anomalies add further district scale potential to Raiden's base metal portfolio in the Pilbara.
Further field mapping and potentially geophysical surveys will be undertaken by First Quantum over the nickel anomalies defined by this soil program.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/T745DHL7
About Raiden Resources Limited
Raiden Resources Limited (ASX:RDN) (DAX:YM4) is a dual listed exploration and development company which is advancing the Mt Sholl Nickel-Copper-Cobalt-Palladium deposit in the Pilbara. The Company's portfolio host metals and commodities considered critical for the energy and electrification revolution.
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