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Raiden Resources Announce Exceptional Results at Andover South

9 November 2023 10:35
ASX: RDN

Raiden Resources Limited (ASX: RDN) continues to make significant strides in its lithium exploration, announcing its recent sampling at the Andover South Project, located in the Pilbara region of Western Australia, has yielded the highest grade lithium result defined to date at the Project.

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Figure 1: Raiden’s Andover South Project and adjacent Azure Minerals Ltd.’s Andover Lithium project2

Successful Sampling

Located in the prolific Pilbara region, Raiden’s Andover South Project continues to impress.

The latest assay results are from the rock chip sample program the Company conducted in September as part of a detailed mapping undertaken in preparation for drill planning.

The results released have been extremely encouraging, recording the highest grade lithium result, 3.80% Li2O, to date across the tenements, demonstrating the high potential for significant and mineralised Lithium-Tantalum-Caesium (LCT) pegmatites.

The Company reports a total of 143 rock chip samples were collected, of which a total of 34 samples, equivalent to 24% of the samples, assayed >1% Li2O.

Several of the significant new results above 2% Li2O from Andover South Project are outlined below:

  • 3.80% Li2O – sample R21843
  • 3.64% Li2O – sample R21952
  • 2.97% Li2O – sample R21923
  • 2.87% Li2O – sample R21989
  • 2.79% Li2O – sample R21949
  • 2.77% Li2O – sample R21922
  • 2.71% Li2O – sample R21918
  • 2.63% Li2O – sample R21947
  • 2.57% Li2O – sample R21907
  • 2.54% Li2O – sample R21979
  • 2.40% Li2O – sample R21945
  • 2.25% Li2O – sample R21921
  • 2.17% Li2O – sample R21990
  • 2.15% Li2O – sample R21987

Raiden is confident the mapping and sampling continues to support the defined high- grade Li2O trend within the central part of the pegmatite field, which extends over 1.5 kilometre along strike with increased prospectivity at the western end of the zone.

X-Ray Diffraction Analysis

In addition to the sampling, semi-quantitative X-Ray Diffraction analysis (XRD) was conducted on whole rock chip samples collected during late August, with the results confirming spodumene as dominant lithium mineral at the Project.

Samples selected for analysis had previously returned 2.14% (sample #R21533) and 2.11% (sample #R21826) Li2O values. The XRD analysis further confirms that Spodumene is likely the dominant lithium bearing mineral in on the Andover South Project.

Additional Exploration Endeavours

Raiden announced earlier this month it has completed its acquisition of 100% of the the LCT rights of the Arrow Project, also located in the Pilbara, from Arrow Minerals Limited (ASX:AMD).

The Arrow Project exploration has been promising so far with the completion of a mapping program confirming visual observations of spodumene mineralisation in outcropping pegmatites.

Raiden believes that the Arrow Project geology and setting is highly prospective for LCT mineralisation, with historical results confirming presence of lithium bearing pegmatites.

As it draws toward the end of the year, Raiden will continue to evaluate the potential for LCT mineralisation throughout its portfolio, including Andover South, Mt Sholl, Arrow, Tabba Tabba and the Pyramid Projects.

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Figure 2: Raiden’s Pilbara portfolio of projects, infrastructure and key discoveries in the district

Company Comments

Raiden Resources Managing Director Dusko Ljubojevic commented on the significant results.

“While the high-grade results from Andover South continues to impress us, we are particularly excited by the definition of further mineralised pegmatites on the western periphery of the high-grade trend we have defined to date,” he said.

“The western anomalies are reporting the highest grades defined to date and are characterised by multiple pegmatites. The work we have undertaken over the last quarter is yielding multiple high-value targets for the planned drill campaign.”

“Drilling will be initiated as soon as the heritage surveys are completed and the Program of Work has been approved by the Department of Mines, which management are advancing as a key priority.”

“We will continue to evaluate the prospects, which will hopefully result in further high-priority targets. At the same time we are progressing with the evaluation of the entire portfolio of projects for LCT mineralisation.”

RDN’s Australian Stock Exchange-listed share price has risen 30.769% and is currently trading at $0.051 cents (10.30am UTC+ 8 hours).

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