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Raiden Resources Confirms Pegmatites & Visual Spodumene Mineralisation at Arrow Project

30 October 2023 12:27
ASX: RDN

Raiden Resources Limited (ASX: RDN) continues to make progress at its Arrow North Project, located in the Pilbara Region of Western Australia, reporting the completion of a mapping program with confirmed visual observations of spodumene mineralisation in outcropping pegmatites.

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Figure 1: Raiden’s Arrow lithium-gold project in relation to Raiden’s Pilbara portfolio of projects, infrastructure and key discoveries in the district

Mapping at the Arrow Project

The Company’s wholly owned Arrow Project is located in the prolific Pilbara region in WA, expanding across 223 square kilometres.

Raiden believes the Arrow Project geology and setting is highly prospective for Li-Cs-Ta (LCT) mineralisation, with historical results confirming presence of lithium bearing pegmatites.

Historic exploration conducted in the area has identified fertile and fractionated granitic intrusions, which are believed to produce mineralised LCT bearing pegmatites.

Raiden utilised the results from satellite analysis conducted by external consultants Terra Resources, to focus the field reconnaissance program with mapping and sampling across the areas of interest identified from this testing.

The Arrow Project is located directly north of Morella Corporation (ASX:1MC), who recently announced a promising pegmatite discovery.

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Figure 2: Area of mapped pegmatites (dashed zone above) where visual spodumene crystals have been identified in relation to adjoining projects and discoveries.

Raiden conducted testing across priority areas located in close proximity to these discoveries and as a result, the teams have visually identified spodumene crystals within several rock samples collected from outcropping pegmatites located in the western area of Arrow North.

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Figure 3: Selected rock chip samples collected from E47/3476 during the current program under UV and natural light, indicating potential spodumene mineralisation (Spodumene mineralisation may fluoresce (usually pink), under UV light and is a commonly used field technique to evaluate for the presence of Spodumene mineralisation)

Soil Sampling at the Arrow Project

During the maiden sampling program, soil sample pulps were submitted for gold potential testing. Raiden has resubmitted these sample pulps for analysis regarding the LTC suite of minerals.

Raiden expects that the pegmatites located on the Arrow Project may have been obscured by sediment cover, thus soil samples will be able to generate defined areas with elevated LCT to aid in follow up sampling and exploration.

Arrow Acquisition

Raiden announced in August this year, that it had entered into an agreement with Arrow Minerals Limited (ASX:AMD)to acquire the LCT rights for the Arrow Project, earning up to 85 percent of the LCT rights across the two tenement areas, or 100 per cent of the LCT rights by way of a $250,000 cash payment and issuing $250,000 in RDN shares to Arrow.

Raiden wholly owns the two tenements but Arrow still holds the LCT rights.

Future Exploration

Raiden has collected additional samples to be submitted for further XRD analysis to confirm spodumene mineralisation following the visual confirmations.

Raiden Resources Managing Director Dusko Ljubojevic commented on the observations.

“Our systematic exploration efforts have once again been rewarded, this time on the Arrow Project,” he said.

“The definition of pegmatite outcrops in another emerging district in the Pilbara is adding to the overall lithium potential within our exploration portfolio. The visual determination of Spodumene mineralisation is very encouraging, however XRD analysis is required to confirm the exact nature of the mineralisation.”

“We are also hopeful that the soil analysis for LCT suite of minerals will define further trends to be followed up on an ongoing basis to fully realise the potential of the project.”

RDN’s Australian Stock Exchange-listed share price is currently trading at $0.038 cents (12:30pm UTC+ 8 hours).

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