Raiden Resources announces significant nickel anomaly at Mt Sholl North Project

Raiden Resources Limited (ASX: $RDN) has announced the results of an infill soil sampling program at the Mt Sholl North Project. The program, funded by First Quantum Minerals, has defined a new significant nickel anomaly, indicating potential for further upside to the existing Ni-Cu deposit. The anomaly extends over a significant strike length of up to 1.2km, with peak values reaching 1,770 ppm Ni.

Executive Commentary on Mt Sholl Project's Nickel Anomaly

Mr Dusko Ljubojevic, Managing Director of Raiden, expressed satisfaction with the results, stating, 'The nickel-copper anomaly defined on the northern trend is characterized by exceptional nickel in soil values, and this new prospect represents further upside to the Mt Sholl Ni-Cu deposit. First Quantum Minerals will be undertaking further target generation work on these defined prospects.'

Summary of Mt Sholl Project's Nickel Anomaly

Raiden Resources' infill soil sampling program at the Mt Sholl North Project has successfully defined a new significant nickel anomaly, indicating the potential for further upside to the existing Ni-Cu deposit. The anomaly, with peak values reaching 1,770 ppm Ni, extends over a significant strike length of up to 1.2km. The company plans to undertake further mapping over all the defined anomalies, with First Quantum Minerals funding all base metal related work on the project. The source of the nickel anomalies is not yet known, but may be related to a potential VMS system, adding 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.