Raiden Resources (ASX: RDN, DAX: YM4) Secures Drill Rigs for Andover Lithium Drilling Starting Next Week

Highlights

• RDN has engaged Topdrill and JB Contracting & Quarries Pty Ltd for maiden drilling at the Andover south Lithium Project.
• Initial drilling program will cover 5,000m, with the option to extend up to 10,000m at RDN’s discretion.
• Both contractors have extensive experience within the Andover Complex, including Azure Minerals' Andover Lithium Project.
• One rig will commence drilling next week, with the second rig to be deployed by early October 2024

Raiden Resources Limited (ASX:RDN, DAX:YM4) is advancing preparations for its maiden drilling program at the Andover South Lithium Project, covering exploration licenses E47/4061 and E47/4062.

The company has secured two diamond drill rigs from the renowned Western Australian contractor, Topdrill Pty Ltd., and earthmoving contractor JB Contracting & Quarries Pty Ltd. Both companies have extensive experience operating within the Andover Complex, including work on Azure Minerals’ Andover Lithium Project.

The maiden drilling program is set to cover 5,000m of diamond drilling, with the option to extend up to 10,000m at Raiden’s discretion.

Experience of Topdrill Drilling and JB Contracting

RDN previously engaged Topdrill for a drilling campaign at the Mt Sholl Cu-Ni-PGE Project, where the company was impressed with Topdrill’s professionalism and commitment to delivering a high-quality diamond drilling program while adhering to the highest safety standards. Topdrill’s extensive experience in the Andover Complex, coupled with its familiarity with the region’s geological conditions, positions it well to support Raiden’s lithium exploration efforts.

Similarly, JB Contracting has a proven track record in the area, having managed all earthwork requirements, including drill pad preparation, at the Andover Lithium Project of SH Mining Pty Ltd (formerly Azure Minerals).

Tentative timeline for mobilisation of rigs

Topdrill's diamond drill rigs will mobilise to the site once preliminary access tracks and drill pads have been prepared. The drilling campaign will commence with a single drill rig, with the second rig to be mobilised shortly thereafter, expected in early October 2024.  Drilling operations are expected to begin next week.

RDN shares jump

RDN shares jumped 5.56% to trade at AU0.038 apiece at the time of writing on 20 September 2024.