- First Quantum Minerals-funded geophysical IP survey indicates mineralisation extends to depth east of the B2 deposit
- The data also confirms a 1km long IP chargeability anomaly
- Raiden Resources is planning further work to evaluate the entire intrusion, including B1 and A1 deposit areas
Special Report: A geophysical induced polarisation survey (IP) has demonstrated potential for mineralisation extensions over the B2 deposit at Mt Sholl, correlating with Raiden’s modelled exploration target.
B2 is one of four deposits at the Mt Scholl project in WA’s Pilbara region, which covers part of the layered mafic-ultramafic intrusive complex of the same name and is host to widespread nickel-copper-PGE mineralisation.
The 23.4Mt project has an exploration target of between 80Mt and 150Mt with a grade range of 0.45% to 0.75% nickel equivalent (based on 85,00m of drilling) and is currently the only open-pittable, nickel-copper-PGE sulphide resource in the district.
According to Raiden Resources (ASX:RDN) managing director Dusko Ljubojevic, Mt Sholl has the potential to unlock a district-scale opportunity for development.
This nickel-copper-PGE prospectivity was enough to draw C$8.7bn market cap First Quantum Minerals into a strategic partnership with RDN late last year to earn up to 70% in the project.
Anomalies have not been drill tested
Having entered the strategic partnership in December 2023, First Quantum has completed an IP survey over the B2 nickel-copper-PGE deposit as part of its preliminary due diligence program.
The aim was to trial the method over the known mineralisation to define the potential response within the disseminated style of mineralisation.
IP data has confirmed a 1km long induced polarisation chargeability anomaly, which also correlates with the modelled south-west plunge of B2 mineralisation and has not been drill tested.
The limits of the survey cover only a small portion of the Mt Sholl intrusion.
Geophysical survey confirms and extends mineralisation
What is of significance, Ljubojevic says, is that the survey indicates mineralisation extends to depth, which Raiden’s team previously modelled and was the basis for the exploration target released with the resource in 2023.
“We hope that further geophysical surveys will confirm and extend the potential mineralisation throughout the entire deposit and drill testing will confirm that the Mt Sholl project is a strategic base metal asset in the Pilbara,” he says.
What’s next?
First Quantum are currently planning additional work over the Mt Sholl Ni-Cu-PGE deposits, which may include a ground electromagnetic (EM) survey to define further potential zones of massive sulphide mineralisation.
This mineralisation is also known to be hosted within the lower tenor disseminated mineralisation zones on the Mt Sholl deposits.
This article was developed in collaboration with Raiden Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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