Ragnar Metals (ASX:RAG) reveals magmatic sulphides at Granmuren, Sweden – The Market Herald
- Ragnar Metals (RAG) reports visual magmatic sulfides at the Granmuren nickel-copper-cobalt deposit in Sweden
- The Company obtained results for two holes testing the historic upper mineralization and the deeper mineralization to the east and west of a successful historic hole
- Both holes intersected visual magmatic sulfides with up to 19 percent visual sulfide estimates encountered
- Core from both holes is being prepared for analysis with results expected in November
- Ragnar is down 22.5 percent on the market with shares trading at 3.1 cents at 11:51 AEST
Ragnar Metals (RAG) has received results from the phase one drilling program at the Granmuren nickel-copper-cobalt deposit in Sweden.
Results have been obtained for holes 22DDTS009 and 22DDTS010, both of which intersected visual magmatic sulphides.
These holes were drilled to test the upper and deeper mineralization to the east and west of historic hole 21DDTS007 intersecting 166.3 meters at 0.6 percent nickel and 0.5 percent copper.
Results from 22DDTS009 confirmed large widths of sulfides that continue eastward and remain open.
The upper zone contained seven percent visual sulfide estimates with 11 percent matrix-like sulfides while the lower zone contained eight percent visual sulfides with 37 percent matrix and semi-massive sulfides.
Results from 22DDTS010 confirmed large widths of sulfides in the upper and lower zones.
The upper zone contained 19 percent visual sulfide estimates with 50 percent semi-massive sulfides while the lower zone contained six percent visual sulfide estimates with up to 80 percent semi-massive sulfide zones.
Core from both holes is being prepared for analysis with results expected in November.
When combined with the results of the geophysical survey data, these results will provide a more concise model of the mineralization to enable accurate targeting of future drilling.
“We are pleased to report that phase one drilling has achieved its objective of intersecting sulphides around the highly successful 21DDTS007 with logging confirming visual sulphides over significant widths in adjacent holes,” said Managing Director Eddie King.
“Phase one drilling demonstrates the potential scale of the Granmuren system, and we are pleased that the interception of sulphides confirms that the geophysical modeling to generate drill targets is working.
“We look forward to receiving visual logs when the final hole in phase one is completed and begin drilling phase two.”
Hole 22DDTS011 is now being drilled to test the 3D nature of the potentially significant sulphide system.
Once this hole is drilled, phase two will begin drilling to test the Northern and Southern Lobe targets.
Furthermore, electromagnetics in the borehole and borehole induced polarization and resistivity measurements have been started.
Ragnar was down 22.5 per cent on the market with shares trading at 3.1 cents at 11:51 AEST.