Why Are the IP Survey Results Significant for Raiden Resources Limited?
Unlocking the Depths: The Promising Expansion of the Mt Sholl B2 Deposit
Raiden Resources Limited, in partnership with First Quantum Minerals, has recently unveiled the results of an advanced geophysical survey at the B2 Ni-Cu-PGE deposit within the Mt Sholl Project, highlighting a substantial potential for resource expansion. The Induced Polarisation (IP) survey not only confirmed the depth extension of mineralization but also identified significant unexplored anomalies, promising a strategic enhancement of this base metal asset in the Pilbara region.
Highlights of the IP Survey:
Depth Extension Discovery: A key finding from the First Quantum Minerals-funded IP survey is the confirmation of mineralization extending east of the B2 deposit, supporting Raiden's previous JORC Exploration Target predictions.
Unexplored Anomalies: The survey uncovered chargeability anomalies, particularly a 1km long IP chargeability anomaly, indicating potential zones of mineralization that have yet to be drill-tested.
Strategic Implications: The identification of these anomalies and their correlation with the modeled SW plunge of B2 mineralization underscore the potential for significantly expanding the known resource base at Mt Sholl.
First Quantum Minerals Program and Results:
The IP survey, conducted using a gradient array method followed by dipole-dipole sections, was aimed at trialing the method over known mineralization to define potential responses within the disseminated style of mineralization. The results have been promising, outlining a 1,000m x 200m chargeability anomaly east of the current B2 deposit and identifying chargeable features within 150m of the surface that correlate with the SW plunge of B2 mineralization.
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These findings are pivotal, as much of the identified chargeability anomaly is underexplored, with previous drilling either shallow or non-existent in the newly identified zones.
Future Prospects and Planning:
First Quantum Minerals is planning further exploratory work on the Mt Sholl Ni-Cu-PGE deposits, including a potential ground electromagnetic (EM) survey to define zones of massive sulphide mineralization. This follows the strategic intent to comprehensively evaluate the Mt Sholl intrusion, including other deposit areas like B1 and A1, indicating a broad and aggressive exploration strategy.
Raiden's Strategic Position:
Raiden Resources, under the leadership of Managing Director Mr. Dusko Ljubojevic, views these results as a significant step forward in proving the strategic value of the Mt Sholl project as a base metal asset. The company's portfolio, spanning Serbia, Bulgaria, and Australia, reflects a diversified approach to mineral exploration and development, with the Mt Sholl project positioned as a potential cornerstone in its asset base.
The recent IP survey results at the B2 deposit of the Mt Sholl Project represent a pivotal moment for Raiden Resources Limited and its partners. With significant unexplored potential now identified, the path forward includes detailed exploration and drilling to confirm and expand the known mineral resource. This strategic endeavor not only highlights the potential for resource expansion but also underscores the importance of innovative geophysical survey techniques in uncovering hidden mineral wealth. As further exploratory work continues, the Mt Sholl Project stands on the cusp of defining a new era of base metal mining in the Pilbara.
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