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Highlights
- Mapping at the Andover South project (E47/4061 & E47/4062) has defined significant pegmatites.
- Latest work defined outcropping pegmatites across a 3.5km-long, 600m wide pegmatite field on the project, with individual pegmatites outcropping up to 30 metre widths.
- Swarms of pegmatites have been mapped throughout the E47/4062 project tenement.
Share price of Raiden Resources Limited (ASX: RDN, DAX: YM4) soared by over 58% to AU$0.019 apiece by close of trading on 23 August 2023 following a project update.
The ASX-listed exploration company has identified significant outcropping pegmatites at the Andover South Project.
Currently, RDN is conducting a mapping and rock sampling program across the two tenements of the Andover project (E47/4061 & E47/4062). Mapped pegmatites on E47/4062 have been reported with dimensions of up to 30 metre width.
Mapping has also highlighted multiple swarms of outcropping and interpreted pegmatites at the E47/4062 area, defined within an outcropping pegmatite field which is 600 metres wide and extends up to ~3.5km along the strike.
Data source: Company update
Highly encouraging dimensions of pegmatites at Andover South
The mapped pegmatites on E47/4062 with dimensions of up to 30m width at surface within a swarm of pegmatites have boosted the company’s confidence. RDN highlights that this indicates that the system may be of significant scope and nature. Geologists at the company have interpreted extensions to the mapped pegmatites on the basis of clear vegetation anomalies directly along strike from outcropping pegmatites.
To date, the focus of the mapping has been on E47/4062, as preliminary results demonstrated positive indications. The company plans to undertake further work to define the grades and size of the system.
The mapping team is now moving its focus towards tenement E47/4061, expecting that pegmatites might outcrop in the prospective outcropping geology of that area.
More about the current mapping and sampling program
Raiden highlighted that the sampling and mapping program aims to follow up on the recently announced lithium bearing pegmatites on the Andover South project and to define the extent and potential size of the pegmatite field.
Data source: Company update
