RAG is currently up 40% after it confirmed large scale potential of the Granmuren magnetic NI-CU-CO discovery. The extensive mineralisation contains multiple higher-grade zones and a 3D review of drill data indicates a steep west plunging zone of thick nickel-copper mineralisation extending from surface down to 400m true vertical depth. Grades and thickness are increasing with depth and 3D review confirms huge potential upside in 3 key areas: At depth along the plunge length of the intrusion, within a 240m wide gap in the drilling above 21DDTS007 & up-dip and close to surface in untested area to the east of the historical drilling.
Chairman Steve Formica comments, “With the results of hole 21DDTS007 now received, we can start to understand the potential scale of the Granmuren Intrusive system. All holes drilled in this drilling program added to the discovery and understanding of the magmatic sulphides intersected in the drilling. The modelling and interpretation to date show this to be an extensive system with the potential to host significant tonnage of Ni-Cu-Co metals.
The mineralisation within the Granmuren Gabbroic Intrusion starts from the surface and continues down to 400m vertical depth. It is open and increasing in size and grade with depth, similar to Anglo American’s Sakatti Deposit in Finland which Ragnar continues to form its geological modelling around.”