Latest review shows Li-bearing pegmatite potential of Raiden Resources’ (ASX:RDN) Roebourne Project

Highlights

• Review and compilation of geophysical data points to lithium-bearing pegmatite potential of Roebourne Project (Pilbara, WA)
• At Azure Minerals’ Andover Project -- which is next to Roebourne -- geophysical interpretation indicates that the Andover Complex hosts the lithium pegmatite mineralisation and extends into Raiden's Roebourne project
• Raiden states that shallow transported material over its Roebourne Project obscures underlying geology, but presence of fertile host rocks indicates potential for mineralisation

Exploration company Raiden Resources (ASX:RDN / DAX:YM4) -- which is primarily focused on the Mt Sholl nickel-copper-cobalt-PGE project in Western Australia -- has informed that a review of available historical and geophysical data highlighting the lithium bearing pegmatite potential of its Roebourne (Li) Project is now complete. RDN is in the process of planning work for assessment of lithium potential within its project areas in Australia.

At ASX-listed Azure Minerals’ Andover Project, the geophysical interpretation of intrusive body shows the existence of Andover Complex, which hosts Li-bearing pegmatites. Notably, Azure’s Andover Project is adjacent to RDN’s Roebourne project, with Azure drilling in very close proximity to Roebourne.

Source: Company update

Shares rally 20%

Triggered by the update, RDN shares soared 20% to trade at AU$0.006 at the time of writing on 19 June 2023.

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ASX-listed Raiden has completed the review of historical and geophysical data for its Roebourne Li Project (E47/4603). RDN considers that the interpretation of both historical and recent available datasets reveals high prospectivity for pegmatites on the Pilbara-based Roebourne Project.

Raiden has based this interpretation on the understanding that the rocks -- obscured by shallow transported cover -- that underlie the tenure demonstrate a consistent magnetic signature, indicating  a larger, than previously assumed, Andover Complex area and which extends into Roebourne project. Moreover, recent drilling results from Azure's Andover Project show that the rocks of the Andover complex are a suitable geological host for high-grade Li-bearing pegmatites.

Raiden states that in addition to the known Li prospectivity of the Andover complex, potential for Li-bearing pegmatites has also been demonstrated in related geological units within the district, which includes GreenTech Metals' recent discovery of high-grade Li-bearing pegmatites. GreenTech's Ruth Well Project is just 30km west of Raiden's Roebourne.

Mt Sholl Project Location with GreenTech’s Ruth Well Project tenements; Source: Company update

Next step

Raiden Resources is in the process of planning field reconnaissance work, which will be conducted on potential host geology, including the Mt Sholl Project area. Notably, the company’s Mt Sholl project is adjacent to GreenTech’s Ruth Well project.

Mr Dusko Ljubojevic, Managing Director of Raiden, has said that the initial focus with respect to Roebourne was on Ni-Cu mineralisation to augment the overall Ni-Cu-PGE potential within the scope of Mt Sholl project. He added that the analysis of geophysical data sets "strongly indicates" that Roebourne hosts the "right rocks", with prospectivity for pegmatite hosted Li mineralisation.