Raiden Resources Limited (ASX:RDN) has obtained promising results from a recent review of historical gold exploration results from the Mt Sholl project in Western Australia’s Pilbara Region.
The objective of the exercise was to advance the understanding of the processes driving all the multiple mineralisation styles observed within the Mt Sholl ultramafic intrusion and the surrounding host rocks to determine the factors which may lead to further discoveries.
Management was aware of the potential for gold mineralisation within the Mt Sholl district area, but this detailed evaluation has further highlighted the high-grade nature of the mineralisation and the reasonable amount of historical exploration work undertaken. Subsequent ground consolidation of the district by the company, (Welcome Exploration Pty Ltd acquisition in 2021), included not only the Ni/Cu/Co mineralisation contained within the B2 deposit, but also the Four Ounce Show (FOS) Au prospect which is located west of the B2 deposit.
These historical gold results add further upside to the Mt Sholl district potential. While the company will focus on advancing the Ni-Cu-PGE deposit as its primary focus, we are excited by the fact that that we can observe a separate mineralisation event and style within the project area,” Managing Director, Dusko Ljubojevic, said.
“The historical gold results are high grade in nature and outcrop. The structures, of which there are several defined to date, appear to be associated with mineralisation extending over multiple kilometres through the project area. In parallel with our Ni-Cu-PGE deposit evaluations, we will continue to consider the upside of the gold mineralisation, which may add further value to the overall project in the longer term.”
Gold mineralisation at the Radley’s Find Prospect is associated with the Domain- bounding Sholl Shear Zone and subsidiary structures, where a series of shallow historic workings were drill tested over a 700-metre strike length by Agip Australia in the 1980s with a total of 45 RC holes drilled for 2,226.5 metres, with a best intercept of 1m @13 g/t Au from 48 metres.
Further historic workings are located 1.3 kilometres along strike east-southeast of Agip’s drillholes, where historic grab samples collected from mine dumps returned up to 48 g/t Au. A further 1.5 kilometres along strike to the east-southeast, a historic soil sample returned a gold value of 0.24 g/t. This gold trend has a strike length in excess of 3.5 kilometres.
The “Four Ounce Show” Au prospect (FOS) is located immediately to the west of the B2 Ni- Cu-Co deposit, in an area where existence of colluvial/alluvial gold has been known over many years.