Raiden Resources (ASX:RDN) eyes full drilling campaign on flagship Mt Sholl – The Market Herald

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  • All eyes are on Mt Sholl as it becomes the focus in Australia for Raiden Resources (RDN)
  • Raiden recently expanded the footprint of the Mt Sholl project area by 50%
  • The company is set to launch a full and aggressive drilling campaign this quarter
  • Sustained high price projections for nickel, copper, cobalt and palladium give Mt Sholl great upside value
  • Large palladium credits at Mt Sholl provide strategic advantage to asset
  • Raiden offers additional Tier 1 discovery potential through its extensive portfolio of copper and gold exploration projects in Eastern Europe and Australia

Raiden Resources’ Mt Sholl nickel-copper-palladium project is fast becoming the company’s flagship Australian project. The recent acquisition of a new permit adjacent to Mt Sholl has expanded the existing ground position by 50%, providing new targets and advantages for the project.

Soaring commodity prices, fueled by growing demand from overseas markets – particularly resource-hungry Asian markets – drew Raiden’s attention to its advanced Mt Sholl project in WA’s Pilbara region.

Located just 22 kilometers southeast of Karratha and associated infrastructure, historic drilling at Mt Sholl has defined three outcrops of high-grade nickel-copper-cobalt-palladium deposits, all products that are reaching all-time highs on the market.

With tight supply and increased demand for battery minerals, nickel prices have more than doubled year-to-date to over US$33,000 per tonne

Cobalt and palladium are also booming, trading at over US$80,000/t and US$2,000/oz respectively.

Is this another case of the right time, right place? Raiden managing director Dusko Ljubojevic thinks so, making Mt Sholl the heart of his Australian assets.

“It’s a perfect time in terms of the commodity cycle, we have an advanced nickel-copper-cobalt-palladium deposit with very good grades in the best mining jurisdiction in the world,” Ljubojevic said.

“As it is an outcropping deposit, [Mt Sholl] is absolutely going to be the value driver for the company in the medium term.

“We believe that with very little work we can add an enormous amount of value and this will definitely be the anchor project for the company.”

Ready to rock

Ljubojevic said the company is well-prepared to launch an aggressive drilling campaign this quarter to define a JORC-compliant resource once it agrees on near-imminent heritage approvals and access agreements with stakeholders. concerned.

Once approvals have been processed, Raiden’s team of explorers will seek to prove its three known deposits (Mt Sholl A1, B1 and B2), as well as test direct extensions of these deposits. The objective will also be to increase the potential of the project beyond the JORN exploration target of 20 to 40 million tonnes (mt) at a grade between 0.55 and 0.75% nickel equivalent.

Raiden will also drill test geophysical targets throughout the project area to define new ore bodies. Significantly, very few of the defined geophysical targets have been drill tested to date, so the chances of a new discovery are significant.

“We’ve been planning for this over the past few months, lining up drilling contractors and management personnel and getting job approvals,” Ljubojevic said.

“Hopefully we’re going to drill this term, and once it starts it’s going to be a pretty comprehensive and aggressive campaign.”

The drill program will focus on these exploration targets, as well as where recent airborne and electromagnetic geophysical reshaping has uncovered considerable potential nearby.

Mount Sholl Extension

Raiden’s team are so impressed with what they have in Mt Sholl that they decided to jump at the chance to acquire a large building adjacent to the project from Welcome Exploration, increasing total land ownership by 50%. of Raiden in the region.

The deal involves Raiden paying $20,000 in cash and issuing $50,000 worth of RDN stock for the building license.

The operation is at the northernmost end of the layered Mount Sholl intrusion, giving Raiden additional exposure along the entire northern direction of the intrusive complex.

Mr Ljubojevic said the increase in land next to Mt Sholl underscored his aim to move the project forward as a key part of his Australian operations.

“This acquisition provides further growth potential to the Mt Sholl project, where nearly 80,000 meters of historic drilling has defined three outcrop deposits of nickel-copper-cobalt-platinum group elements,” Mr. Ljubojevic said.

“This is a transformation project for the company.

To investors, Mr. Ljubojevic was eager to note that his extensive exploration portfolio in Eastern Europe and Australia offers additional Tier 1 exploration potential to investors, with highly promising copper and gold projects. in both jurisdictions.

“[Mt Sholl] is a relatively risk-free project from a technical standpoint, with nickel, copper, cobalt and palladium being the resources that every explorer wants to be in right now,” Ljubojevic said.

“At the same time, our shareholders are exposed to a very large exploration portfolio, multiplying our chances of significant success at all levels.”

Raiden Resources shares are flat at 1.6 cents apiece as of 11:46 a.m. AEST.

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