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Raiden Resources Forges Ahead with Heritage Access Deed and Survey Request

27 October 2023 10:16
ASX: RDN

Raiden Resources Limited (ASX: RDN) has achieved a pivotal milestone by executing a Heritage Access Deed and Native Title Agreement, enabling the initiation of drilling and sampling operations at its newly acquired Andover tenements in collaboration with the Ngarluma Aboriginal Corporation (NAC), emphasising its commitment to sustainable resource development and cultural heritage preservation.

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Figure 1: Location of Andover South Project; Raiden lithium portfolio in relation to district infrastructure and Andover Lithium deposit (ASX:AZS)

Background

The Company’s recent acquisition of the Andover Lithium Project tenements has opened up new opportunities for Raiden Resources, especially in the Andover South Project.

With a focus on lithium exploration, Raiden aims to tap into the growing demand for this critical component of the clean energy sector.

The Native Title and Heritage Deed

The execution of the Heritage Access Deed and Native Title Agreement is a crucial step forward for the Company.

The Native Title Agreement, established with the Ngarluma Aboriginal Corporation, represents a cooperative approach towards exploration activities in the region.

This agreement not only acknowledges the rights of the Traditional Owners but also provides an avenue for Raiden to engage proactively with them. It allows for heritage surveys to be conducted across the area, with the aim of preserving areas of cultural significance.

Andover South Project

The Andover South Project, part of the newly acquired tenements, holds great promise for lithium exploration.

Outcropping pegmatites have been identified across a substantial area, approximately 3.5 kilometres long and 600 metres wide. These pegmatites can reach widths of up to 50 metres. Moreover, swarms of pegmatites have been mapped throughout the Project area, indicating a rich resource potential.

A series of rock sampling endeavours on the Andover South tenements has confirmed the presence of high-grade lithium-bearing pegmatites.

Notably, some rock samples have returned extremely high grades of lithium oxide (Li2O), with proportions exceeding 1%, and the highest grades reaching up to 2.73% Li2O. This suggests the presence of substantial lithium mineralisation, making the Andover South Project an attractive prospect for further exploration and development.

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Figure 2: Andover South Project with mapped & interpreted pegmatites with previously reported rock chip sampling samples

Drilling and Sampling Program

The Company is moving forward with a comprehensive program of work for drilling, which will initially target the identified outcropping pegmatites. The plan is to submit this program of work to the Department of Mines, Industry Regulation, and Safety (DMIRS) once the necessary approvals for the respective tenement (E47/4062) are granted, with a prompt response expected.

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Figure 3: Significant rock chip Li2O results within the E47/4062 (Andover South Project)

In the interim, the Company is planning a heritage survey to cover the proposed drilling program at Andover South, and discussions regarding the timing of this survey are underway with the Ngarluma Aboriginal Corporation.

This coordinated approach ensures that exploration activities respect the heritage of the region.

Once the heritage survey is completed and DMIRS clearance is received, drilling contractors are expected to be ready to commence drilling operations.

In addition to drilling, a comprehensive soil sampling program is in the pipeline for areas where cover obscures interpreted pegmatites.

This work will occur either before or concurrently with the drilling program, contingent on heritage clearance. These combined efforts will further the understanding of the lithium resources in the region and guide future exploration activities.

Raiden’s Managing Director Dusko Ljubojevic commented on the progress.

“We thank the Ngarluma Aboriginal Corporation for their support,” he said.

“The execution of the variation deed to include the recently acquired tenements is a significant step for Raiden in progressing exploration over the tenements.”

RDN’s Australian Stock Exchange-listed share price has risen 9.1% and is currently trading at 3.6 cents (10am UTC+ 8 hours).

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