AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Final heritage report for the Andover North project has been received, paving path for drilling on Andover North as well as Andover South projects.
- Programs of Work (POWs) have been submitted for three tenements.
- The Air Core drilling program will initially focus on areas covered by sediment cover to define further targets.
- Diamond and RC program to target Andover South where multiple stacked and mineralised lithium pegmatites have been discovered.
Raiden Resources Limited’s (ASX: RDN, DAX: YM4) shares jumped approximately 4% on Monday (20 May 2024) morning to AU$0.054 apiece following a significant update regarding the Andover permits. The company has received the final heritage survey report for the Andover North Project areas.
As the report has not flagged any changes from the preliminary heritage survey, the company plans to move ahead with aircore (AC) drilling on the key prospects These prospects are believed to hold potential for pegmatite-hosted Li2O mineralisation.
POW applications for three tenements (E47/4061, E47/3849, and E47/4063) have been lodged with the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS). Once approved, the company intends to commence the AC drilling program.
Details of upcoming drillings at Andover permits
The AC drilling program will focus on identifying additional potential pegmatite-hosted mineralisation within two Andover North tenements (E47/3849 and E47/4063) and specific areas of Andover South, particularly E47/4061. At E47/4061, the company expects that potential mineralisation may be concealed by a thin sediment layer.
The AC drilling program will be followed up by diamond and rotary circulation (RC) drilling, along with RC/diamond drilling on Andover South.
The company has initiated discussions with drilling contractors to start the drilling program, once all required regulatory conditions for drilling are approved.
