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Raiden Resources Discover 50m Wide Pegmatite at Andover South Project

19 September 2023 11:28
ASX: RDN
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Raiden Resources Limited (ASX: RDN) has announced promising high-grade lithium and rubidium samples collected from its recent sampling and mapping program across its Andover South tenements, with the discovery of a new 50 metre wide pegmatite which returned grades up to 1.81% Li2O.

Significant Results

Several significant results were returned from the Andover South Project, those >1% Li2O include:

  • 2.42% Li2O – sample R21896
  • 2.27% Li2O – sample R21895
  • 2.11% Li2O – sample R21826
  • 1.85% Li2O – sample R21825
  • 1.81% Li2O – sample R21876
  • 1.77% Li2O – sample R21868
  • 1.69% Li2O – sample R21887
  • 1.64% Li2O – sample R21866
  • 1.52% Li2O – sample R21871
  • 1.49% Li2O – sample R21886
  • 1.44% Li2O – sample R21869
  • 1.43% Li2O – sample R21859
  • 1.35% Li2O – sample R21870
  • 1.30% Li2O – sample R21865
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Figure 1: Raiden’s Andover South Project and adjacent Azure Minerals’ Andover Lithium Project

The Company has identified pegmatites located within a 3.5-kilometre by 600-metre wide pegmatite swarm.

Raiden has analysed the first batch of assays from the Andover South Program, which includes 81 out of 301 rock chip assays received, with the remaining assays pending.

In addition to the promising lithium and pegmatites identified, the Company reports consistent anomalous rubidium grades in rock samples, detecting grades of up to 0.36% Rb.

Raiden is evaluating the distribution of the elevated rubidium, a high value technology mineral used in solar panels, GPS systems and sodium-ion batteries, in regard to the high grade lithium values and ascertaining their relationships.

The Sampling Program

Raiden recently announced in August its successful $6 million capital raise to expedite its activities, providing a crucial boost to its exploration across its diverse lithium Projects situated in Western Australia’s Pilbara region.

Preliminarily exploration of the area, which took place in August, revealed a substantial pegmatite network which demonstrated widths of up to 30 meters at surface, hinting at the system’s potential scale and scope.

The maiden mapping and outcrop sampling aimed to further define this, and was carried out in early September following the Company’s acquisition of the tenements from Welcome Exploration Pty Ltd. Since its takeover, Raiden has been focusing its attention on the Andover South Project with plans for further work to be carried out across the land package.

The mapping conducted by the Company defined a previously unreported 50-metre-wide pegmatite zone, which outcrops over a 170 metre strike, with grades of up to 1.81% Li2O being returned.

This discovery marked a significant milestone for Raiden, as it aligns with previously reported pegmatite outcrops exhibiting widths of up to 30 metres, situated approximately 350 metres northeast of the currently reported pegmatite outcrop.

The Company’s interpretation suggests that the pegmatite trend extends further, supported by vegetation anomalies observed along the same strike.

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Figure 2: Significant rock chip Li2O results within the E47/4062 and area of interpreted pegmatite marked with dotted red line

From the assay results analysed, the Company notes that 17 percent of the 81 samples displayed grades exceeding 1.00% Li2O, affirming the significant high-grade potential of the Andover South Project.

Future Outlook

Raiden has initiated the planning for the inaugural drill program at the Andover South Project, with a specific emphasis on targeting the exposed high-grade lithium pegmatites, which have been identified as promising areas for future exploration.

Raiden’s mapping teams are actively engaged in ongoing efforts to refine the orientation and strike of the pegmatites, facilitating more efficient exploration drilling.

Additionally, Raiden has partnered with NAC to commence heritage surveys in collaboration with Traditional Owners.

The remaining assay results are anticipated to arrive soon and will be promptly disclosed to the market upon their receipt.

Raiden Resources’ Managing Director, Dusko Ljubojevic, expressed optimism regarding the received results.

“The results from the ongoing mapping and sampling exercise continue to build confidence for the Company that Andover South project represents a high value investment, with drill targets being defined on an ongoing basis,” he said.

“Detailed mapping continues to define broad zones of pegmatite hosted mineralisation with high grades striking over significant lengths and widths. As further results are received we are hopeful new target zones will be defined as we progress the project to drilling.”

“Further work is ongoing over the Mt Sholl, Pyramid and Arrow project to define lithium potential across those projects and the Company will report significant results are they are received and interpreted.”

RDN’s Australian Stock Exchange-listed share price has risen 22.4% and is currently trading at 3.5 cents (11am UTC+ 8 hours).

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