Raiden Resources (ASX: RDN, DAX: YM4): Andover South Final Heritage Survey Clears Path for Maiden Drilling

May 16, 2024 10:17 AM AEST | By Sonal Goyal

Raiden Resources (ASX: RDN, DAX: YM4): Andover South Final Heritage Survey Clears Path for Maiden Drilling — Image source: Company update

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Highlights

Final heritage survey report for the Andover South Project paves way for maiden drilling.

The report has confirmed the clearance of culturally sensitive areas at the key drilling targets.

Drill contractor appointment will follow the final drilling plan and final heritage survey report for Andover South.

RDN shares jumped by over 9% in early morning trade on 15 May 2024.

Raiden Resources Limited (ASX: RDN, DAX: YM4) has received the final heritage survey report from the Ngarluma Aboriginal Corporation (NAC) for the Andover South Project.

The report confirms the absence of culturally sensitive areas within the key drilling targets, which will impact on the planned drilling. This development paves the way for commencing drilling activities across the project.

Preparations begin for maiden drilling at Andover South

The project area covers E47/4061 & E47/4062. With the final heritage report for Andover South received, the company is progressing discussions with drilling contractors, aiming to commence maiden drilling program (reverse circulation and diamond drilling), pending regulatory approvals.

The company plans to appoint a drill contractor after obtaining the final heritage report for Andover North project and finalising the full drilling works program.

Additionally, an air core drilling program is planned for the Andover South project, with a preliminary air core drill program for the Andover North project pending the final heritage survey report for that area.

The objective of the air core exploration campaign is to assess potential pegmatite-hosted mineralisation on E47/3849 and E47/4063 in Andover North, as well as areas of Andover South where pegmatite hosted mineralisation is expected to be present beneath shallow sediment cover.

RDN shares jump

After the announcement, RDN shares jumped by over 9% to AU$0.054 apiece during morning trading hours on 15 May 2024.

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