Raiden Resources (ASX: RDN, DAX: YM4) racing higher on latest assays from Andover South

Highlights

• Raiden Resources has reported ~50m wide pegmatite at Andover South with up to 1.81% Li₂O grades.
• Sampling results indicated anomalous rubidium grades with highest values of up to 0.36% Rb
• The first set of assay results comprises 81 rock chip assays out of 301 samples collected to date.
• The company is gearing up towards the maiden drilling program.

Share price of Raiden Resources Limited (ASX: RDN, DAX: YM4) appreciated by more than 20% to trade at AU$0.035 apiece during early morning trade on 19 September 2023 following the Andover South project update.

RDN received the first set of assay results from rock chip sampling and mapping program over Andover South tenements. The initial assay results refer to only 81 rock chip samples, out of 301 samples collected to date from outcrops on the project.

The company reported the discovery of ~50m wide pegmatite returning grades of up to 1.81% Li₂O.

Following are highlight results from the initial batch of samples:

• 42% Li₂O - sample R21896
• 27% Li₂O - sample R21895
• 11% Li₂O - sample R21826
• 85% Li₂O - sample R21825
• 81% Li₂O - sample R21876
• 77% Li₂O - sample R21868
• 69% Li₂O - sample R21887
• 64% Li₂O - sample R21866
• 52% Li₂O - sample R21871
• 49% Li₂O - sample R21886
• 44% Li₂O - sample R21869
• 43% Li₂O - sample R21859
• 35% Li₂O - sample R21870
• 30% Li₂O - sample R21865

The sampling results have also highlighted consistently anomalous rubidium values with grades up to 0.36% Rb. Rb is a technology mineral, generally linked with pegmatite deposits. Rubidium Carbonate is the most used form of rubidium and is used in fibre optic cables, solar panels, night vision equipment, GPS systems and sodium-ion batteries.

More on mapping and sampling program

The company acquired these tenements (E47/4061 & E47/4062) from Welcome Exploration Pty Ltd, following which the Andover project became the centre of focus. As a result, in early September, the mapping and outcrop sampling program was carried out over the outcropping pegmatites within the Andover South project.

The mapping results have reported a previously unknown pegmatite zone with substantial Li₂O grades.

previously unreported – 50m-wide pegmatite zone, which outcrops over a 170m strike, and which has returned grades of up to 1.81% Li₂O (sample R21876).

RDN said that the reported results correlate well and substantiate the already reported pegmatite outcrops with up to 30m widths, situated nearly 350m NE of the reported pegmatite outcrop.

Potential extensions of the pegmatites are interpreted by company geologists to extend beyond the currently defined outcrops and are based on vegetation anomalies which are located directly along the strike.

Maiden drilling program on the cards

The company has initiated planning for the drill campaign, which would focus on the outcropping lithium pegmatites owing to the latest initial results and works.

Currently, the mapping team is conducting detailed work on the major pegmatites discovered to date with the aim of defining their strike and dip orientations in order to support the drilling plan.

Heritage surveys, soil sampling and potential geophysical surveys are in the pipeline over the project area.