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Raiden Resources Identify Multiple Lithium Soil Anomalies at Mt Sholl

5 December 2023 09:53
ASX: RDN
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Raiden Resources Limited (ASX: RDN) has announced its recent soil sampling program has yielded promising results, reporting the detection of several clear lithium in soil trends at the Mt Sholl Project, including trends with a strike length up to 3.5 kilometres.

A Successful Sampling Campaign

The Company completed a soil sampling program over two tenements at the Mt Sholl Project during October, hoping to ascertain the potential for lithium bearing pegmatites on the northern parts of the Project, which is considered the most prospective.

The program also aimed to provide insight into the potential zoning of the mineralised system, define the direction and location of the potential source granites and highlight any structural trends which may act as hosts for mineralised pegmatites.

Raiden Resources reports the program was a success, clearly defining several lithium in soil trends at Mt Sholl Project including a 3.5 kilometre strike trend with peak value of 138.5ppm Lithium, extending across the north-central part of the tenement, and a lithium in soil trend with 2.5 kilometre strike length, with peak value of 187.5ppm Lithium, defined in the southeastern part of the permit.

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Figure 1: Mt Sholl Project with the results of Raiden’s lithium soil sampling program, in relation to GreenTech Metals Ltd’s Osbourne JV results1

Strategically Located

The Company reports the defined anomalies are located along strike to GreenTech Metals Ltd’s (ASX:GRE) Osbourne JV pegmatite discovery.

GreenTech conducted reconnaissance rock chip sampling this year, which confirmed the presence of a new high-grade lithium trend, with assays returning up to 3.6% Li2O pegmatite hosted mineralisation, with mineralisation confirmed as spodumene.

Raiden hopes its strategic proximity to this discovery will lead to similar lithium mineralisation potential.

The Next Steps

Following the promising results, Raiden has commenced planning further work on the tenements for early 2024.

The work outlined will include a detailed analysis of the regolith in relation to these soil anomalies, and previously mapped structures, with a re-evaluation Raiden’s aeromagnetic data to target potential concealed structures, which may act as potential hosts of LCT pegmatite mineralisation.

Ultimately the Company hopes exploration work can define drill targets for testing in 2024.

Company Comments

Raiden Resources Managing Director Dusko Ljubojevic commented on the results.

“These recent results from the Mt Sholl campaign have defined multiple anomalous lithium trends within the property,” he said.

“The fact that the anomalies are within the same district and along strike from a recent pegmatite discovery on the adjoining property, provide further encouragement that the anomalies may be associated with a mineralised system.”

“Management plan to initiate a detailed follow up work campaign in order to refine the anomalous trends and hopefully define drill targets on the Mt Sholl lithium project. Over the past several months, the Company has been undertaking targeting work over multiple properties and we are very pleased that the work is yielding positive results, that will hopefully lead to multiple drill programs.”

RDN’s Australian Stock Exchange-listed share price is currently trading at $0.037 cents (9.30am UTC+ 8 hours).

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