Highest-grade lithium results from Andover South sent Raiden (ASX: RDN, DAX: YM4) shares soaring

Highlights

• Sampling assays from Andover South continue to project the potential for high-grade LCT pegmatites.
• Latest development has highlighted highest grade lithium results defined so far from the project, with grades up to 3.8% Li₂O.
• XRD analysis has further confirmed that spodumene is a dominant mineral from samples at Andover South.
• RDN continues to evaluate LCT mineralisation potential across its portfolio.

Raiden Resources Limited (ASX: RDN, DAX: YM4) has received excellent rock chip sampling assays from the Andover South tenements. The latest results continue to boost the company’s confidence in the high potential of the project for significant and hig-grade lithium-tantalum-caesium (LCT) pegmatites.

During the latest sampling program, 143 rock chip samples were collected from outcrops on the project. Of the total, 24% reported assay result of >1% Li₂O.

Data source: company update

Moreover, further X-Ray Diffraction (XRD) analysis on whole rock samples collected in August 2023, has re-confirmed that spodumene is a dominant lithium mineral over the project.

This is what RDN MD Dusko Ljubojevic commented on the latest development, among other things:

RDN shares skyrocket

Triggered by the update, RDN shares soared 30.7% to trade at AU$0.051 apiece at the time of writing on 9 November 2023.

XRD analysis confirms spodumene as dominant lithium mineral

For the semi-quantitative XRD analysis, the company submitted samples to Duratec Australia Limited, Perth, with preparations finalised at the latter’s accredited laboratory.

The samples selected had returned 2.11% and 2.14% Li₂O values. The XRD analysis further supported previous reports indicating that spodumene is likely the dominant lithium-bearing mineral within the Andover South project.

As the test was conducted on outcropping rock samples instead of drill core, the results might not reflect the entire mineralised system.

Post the completion of the drilling campaign, the company would submit larger, representative samples for further analysis.

RDN evaluating LCT mineralisation potential across portfolio

The company’s lithium project portfolio covers Mt Sholl, Tabba Tabba, Arrow and Pyramid projects. The projects are under evaluation for LCT mineralisation potential.

Presently, the focus is on concluding soil sampling campaign on Mt Sholl and re-assaying historic soil assay pulps for LCT suite of minerals on Arrow North.