{"id":7546,"date":"2024-03-24T21:58:08","date_gmt":"2024-03-24T21:58:08","guid":{"rendered":"https:\/\/economicherald.net\/?p=7546"},"modified":"2024-03-24T21:58:08","modified_gmt":"2024-03-24T21:58:08","slug":"raiden-and-first-quantum-eye-lithium-and-nickel-targets-at-mt-sholl","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7546","title":{"rendered":"Raiden and First Quantum eye lithium and nickel targets at Mt Sholl"},"content":{"rendered":"

Two high-priority lithium targets delineated
\nFirst Quantum Minerals identifies new nickel anomaly over 1.2km strike
\nAn earn-in deal gives the Canadian miner all base metal rights, while Raiden retains lithium and gold<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: Two high-priority lithium targets and nickel anomalies have been identified from infill soil sampling at Raiden Resources\u2019 Mt Sholl project in WA\u2019s Pilbara region. <\/strong><\/p>\n

C$11.5bn Canadian miner First Quantum Minerals, under a memorandum of understanding (MoU), is funding all base metal-related exploration work at Mt Sholl targeting nickel-copper-PGEs.<\/p>\n

As part of the strategic partnership<\/strong><\/a>, First Quantum has the option to spend up to $25m on exploration and make $10m in cash payments to RDN and earn in up to 70% of all non-lithium and gold rights at the project.<\/p>\n

Mt Sholl has a current resource of 23.4Mt @ 0.6% nickel equivalent for 83,000t of contained nickel, 83,700t copper and 233,644oz of PGEs that remains open along strike and at depth across all four identified deposits.<\/p>\n

Raiden Resources (ASX:RDN)<\/strong><\/a> retains the rights to lithium and gold mineralisation, and is also progressing exploration across the tenement, where initial soil sampling had identified multiple lithium trends<\/strong><\/a>.<\/p>\n

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Lithium targets<\/strong><\/h2>\n

Two high-value lithium targets have been confirmed over previously defined anomalies at Mt Sholl, where lithium in soil trends cover a strike length of 3.5km in the north-central part of the tenement and 2.5km in the southeastern section.<\/p>\n

Infill sampling grids were executed on a 50m x 100m grid and a 50m x 200m grid over the anomalies, infilling the original survey line spacing and results show peak values of up to 188ppm Li (405ppm Li2O) in soils.<\/p>\n

In the southeast zone, the lithium in soil trends onto GreenTech\u2019s (ASX:GRE)<\/strong><\/a> Osbourne JV lithium project and additional mapping and evaluation of these trends is being considered as next steps to defining further potential drill targets.<\/p>\n

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Soil sampling for lithium at Mt Sholl. Pic supplied: (RDN)<\/em><\/p>\n

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Nickel anomalies<\/strong><\/h2>\n

Under the MoU, First Quantum has hit the ground at Mt Sholl North with an infill soil sampling program that has identified a significant new nickel anomaly.<\/p>\n

The program confirmed and constrained a high-value nickel-in-soil trend with peak values of up to 1,770ppm nickel extending up to 1.2km in strike length.<\/p>\n

Further field mapping and potentially geophysical surveys will be conducted by First Quantum over the anomalies identified next.<\/p>\n

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Nickel soil sampling conducted by First Quantum at Mt Sholl North. Pic supplied: (RDN)<\/em><\/p>\n

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This article was developed in collaboration with Raiden Resources, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Raiden and First Quantum eye lithium and nickel targets at Mt Sholl<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Two high-priority lithium targets delineated First Quantum Minerals identifies new nickel anomaly over 1.2km strike An earn-in deal gives the Canadian miner all base metal [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7547,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nRaiden and First Quantum eye lithium and nickel targets at Mt Sholl - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7546\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raiden and First Quantum eye lithium and nickel targets at Mt Sholl - 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