Raiden Resources Limited (ASX: RDN) ("Raiden" or "the Company") is pleased to announce the acquisition of tenure adjacent to Raiden's Mt Sholl Project. Through the Welcome acquisition, the consolidated tenements cover a land area of 27km2 . Relative to the prospectivity and results returned to date, the tenements appear under explored, especially regarding extensions of known mineralisation and untested targets.
Mr Dusko Ljubojevic, Managing Director of Raiden commented: "The consolidated tenements have provided Raiden with a significant ground package with drill proven prospectivity. We are particularly encouraged by the fact that mineralisation is outcropping and has very high grade sections within the ore body.
Raiden has commenced interpreting geophysical coverages across the tenements to define extensional targets and potentially untested drill targets, in preparation of a substantial drilling program to be undertaken in Q1 CY22. Systematic analysis of platinum-palladium will be conducted to determine the extent of polymetallic mineralisation present, within what appears to be a large magmatic intrusion system. Twin holes or infill drilling will be completed in areas of nickel-copper mineralisation that has been intersected in previous drilling, which were not tested for palladium-platinum-cobalt.
Through aggregation of individual assets with fragmented ownership, we have generated a substantial asset which has the potential of underpinning a significant resource base. In addition, the associated PGE-cobalt mineralisation has the potential to significantly increase the economic value."