Ragnar Metals (ASX: RAG) cuts nickel and copper in Sweden – The Market Herald
- Ragnar Metals (RAG) cuts 145 meters of nickel and copper mineralization during its stage two diamond drilling programs at the Granmuren Deeps deposit
- Located at Tullsta Nickel project in Sweden, the mineralized zone consists of 393 to 538 meters of various sulfides
- The company says it has completed 2,021 meters of core drilling and has further exploration investigations planned
- Another four diamond wedge holes will be planned in order to cut out existing deep boreholes in the platform
- The share has risen 27.3 percent and traded at 4.2 cents
Ragnar Metals (RAG) has crossed 145 meters of nickel and copper mineralization during its stage two diamond drilling programs at the Granmuren Deeps deposit.
Located at Tullsta Nickel Project in Sweden, the mineralized zone consists of 393 to 538 meters of various sulfides.
The company said it has completed 2021 meters of core drilling and has further exploration investigations planned.
The company said it is awaiting laboratory analysis to determine the breadth and degrees of mineralization.
The company plans to begin regional analysis of Granmuren’s magmatic intrusion within the tenancy package with a focus on favorable locations for potential nickel and copper mineralization.
An additional four diamond wedge holes will be planned in order to cut out existing deep boreholes in the platform.
The company said it will begin field surveys and mapping when the weather clears and the site is more accessible.
Ragnar Metal’s chairman of the board Steve Formica says that the discovery validates the company’s efforts.
“We are pleased to report such a thick zone of sulfide mineralization within a proven nickel-copper system at the Gran Wall Deeps Prospect,” he said.
The shares were traded 27.3 percent higher at 4.2 cents at 15:45 AEDT.