{"id":3101,"date":"2023-12-12T22:02:13","date_gmt":"2023-12-12T22:02:13","guid":{"rendered":"https:\/\/economicherald.net\/?p=3101"},"modified":"2023-12-12T22:02:13","modified_gmt":"2023-12-12T22:02:13","slug":"raiden-resources-inks-deal-with-welcome-exploration-over-lithium-nickel-and-other-mineral-rights-at-mt-sholl","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3101","title":{"rendered":"Raiden Resources inks deal with Welcome Exploration over lithium, nickel and other mineral rights at Mt Sholl"},"content":{"rendered":"<p>Raiden has secured 100% of LCT and nickel-copper-PGE rights in 12 tenements comprising the Mt Sholl deposit<br \/>\nRDN believes the Mt Sholl deposit represents potential to unlock a district-scale nickel-copper camp<br \/>\nGroundwork will kick off in 2024 to delineate further targets for follow up drilling <\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Raiden Resources has increased its exposure to lithium in the Pilbara region \u2013 an emerging critical minerals hotspot \u2013 after securing a 100% interest to a plethora of mineral rights across the Mt Sholl project from Welcome Exploration. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/azure-minerals-azs\/\">Azure Minerals (ASX:AZS)<\/a> neighbour <a href=\"https:\/\/stockhead.com.au\/company\/raiden-resources-rdn\/\">Raiden Resources (ASX:RDN)<\/a> has acquired Welcome Exploration\u2019s 20% interest in 12 tenements comprising the Mt Sholl project, expected to be prospective for lithium-bearing pegmatite mineralisation.<\/p>\n<p>The transaction means RDN now has a 100% interest to mineral rights at the site, which holds a 23.4Mt resource with mineralisation open along strike and at depth across all four deposits.<\/p>\n<p>With ~$7.9m in the bank following the recent utilisation of its At-the-Market Financing Deed with 8 Equity, RDN is in a good position to advance an aggressive exploration campaign across all its projects in the Pilbara.<\/p>\n<p>The Mt Sholl project in relation to Raiden\u2019s lithium portfolio and Azure\u2019s Andover discovery. Pic via Raiden Resources<\/p>\n<p>Recent drilling at projects adjacent to Mt Sholl held by <a href=\"https:\/\/stockhead.com.au\/company\/greentech-metals-gre\/\">GreenTech (ASX:GRE)<\/a> and <a href=\"https:\/\/stockhead.com.au\/company\/artemis-resources-arv\/\">Artemis (ASX:ARV)<\/a> intersected pegmatite mineralisation, providing indications for lithium-caesium-tantalum mineralisation potential in the district.<\/p>\n<p>While multi-kilometre lithium in soil anomalies have been identified at Mt Sholl through exploration work, through a recent soil sampling program, RDN believes the Mt Sholl deposit also represents significant potential to unlocking a district-scale nickel copper camp.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>A significant base metal deposit <\/strong><\/h2>\n<p>\u201cHaving also secured a 100% position in the base metal rights, Raiden is in a position to consider strategic options and partnerships as a means for advancing the Mt Sholl nickel-copper-PGE deposit,\u201d RDN managing director Dusko Ljubojevic says.<\/p>\n<p>\u201cThis transaction not only provides the company with 100% exposure to the potential LCT mineralisation on the project but also provides us with 100% exposure to the Mt Sholl Ni-Cu-PGE deposit.\u201d<\/p>\n<p>On the basis of the recently announced lithium in soil anomalies and pegmatite drill intercept by GRE, RDN carried out a soil sampling program, over what it considered are the most prospective zones.<\/p>\n<p>As a result of the program, several multi-kilometre lithium in soil trends and anomalies have been defined, which appear to correlate to the recent discoveries on to the east of the project area.<\/p>\n<p>RDN now plans to initiate follow up groundwork on these anomalies in the early part of \u201924, which will hopefully delineate further targets for follow-up drilling.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Transaction terms <\/strong><\/h2>\n<p>RDN will pay Welcome Exploration $1.5m in cash and issue $2m consideration shares to obtain a 100% interest in the 12 tenements.<\/p>\n<p>A milestone payment is payable of $5m in cash or script, should a decision to mine be made over the LCT or nickel-copper-PGE rights.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Raiden Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/raiden-resources-inks-deal-with-welcome-exploration-over-lithium-nickel-and-other-mineral-rights-at-mt-sholl\/\">Raiden Resources inks deal with Welcome Exploration over lithium, nickel and other mineral rights at Mt Sholl<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Raiden has secured 100% of LCT and nickel-copper-PGE rights in 12 tenements comprising the Mt Sholl deposit RDN believes the Mt Sholl deposit represents potential <a href=\"https:\/\/economicherald.net\/?p=3101\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3102,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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