IP Survey Indicates Significant Ni-Cu-PGE Upside Potential
Perth, Feb 21, 2024 AEST (ABN Newswire) - Raiden Resources Limited (
ASX:RDN) (YM4:FRA) is pleased to update shareholders on the results of the Induced Polarisation orientation survey completed by First Quantum Minerals in December 2023, over the B2 Ni-Cu-PGE deposit area on the Mt Sholl Project.
Highlights
- First Quantum Minerals funded geophysical Induced Polarisation ("IP") survey indicates mineralisation extends to depth east of the B2 deposit
- The IP survey anomalies correlate with Raiden's modelled JORC Exploration Target mineralisation extensions1
- Anomalies defined through this survey have not been drill tested and represent a significant potential for definition of further mineralisation
- IP data confirms 1km long Induced Polarisation (IP) chargeability anomaly, which correlates with modelled SW plunge of B2 mineralisation
o Southern cross-section identifies chargeability anomaly within 150m of surface with no previous drilling in this area
o Northern cross-section chargeability anomaly under explored, only shallow drilling to date over the defined anomaly
- The limits of the survey cover only a small portion of the Mt Sholl intrusion. Further work is planned to evaluate the entire intrusion, including B1 and A1 deposit areas
Mr Dusko Ljubojevic, Managing Director of Raiden commented: "The recent geophysical orientation survey carried out by First Quantum has indicated a significant potential for further mineralisation over the B2 deposit on the Mt Sholl project. What is of significance is that the geophysical survey indicates that the mineralisation extends to depth, which the Raiden team previously modelled and which was the basis for our JORC Exploration target released along with the maiden JORC resource in 2023. We hope that further geophysical surveys will confirm and extend the potential mineralisation throughout the entire deposit and drill testing will confirm that the Mt Sholl project is a strategic base metal asset in the Pilbara."
First Quantum Minerals Program and Results
First Quantum completed the IP survey over the northern extent of the Mt Sholl B2 Ni-CuPGE deposit utilising a gradient array method and then following up on the defined anomalous zone with two dipole-dipole sections. The aim of this IP survey was to trial the method over the known mineralisation to define the potential response within the disseminated style of mineralisation.
The results from the initial 3.8km2 gradient array grid survey outlined a 1,000m x 200m chargeability anomaly which is offset to the east of the currently drill defined B2 Ni-CuPGE mineral resource area1 (Figure 1*). This chargeability response is hypothesised to define a potential zone of disseminated mineralisation, but drill testing will be required to prove this in the future.
Following on from the definition of this anomalous zone, First Quantum used the dipole - dipole IP survey method across two sections, Line_2000N & Line_2950N, to further define the chargeability response.
These two follow up dipole-dipole IP sections have defined chargeability responses that appear to correlate well with the interpreted SW plunge of the B2 mineralisation. The southern dipole-dipole section identified an anomalously chargeable feature located within 150m of the surface (Figure 2*).
It should be noted that while there is historical drilling collared over the northern part of this chargeability, it was all terminated at very shallow depths and has not tested the shallowly plunging chargeability anomaly.
Likewise in the southern zone of the chargeability anomaly no drilling has tested this new target area.
First Quantum are currently planning additional work over the Mt Sholl Ni-Cu-PGE deposits, and which may include a ground electromagnetic ("EM") survey. The objective of the EM survey is to define further potential zones of massive sulphide mineralisation which are know to be hosted within the lower tenor disseminated mineralisation zones on the Mt Sholl deposits.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/F6345XVY
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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