Highlights

• Raiden has reported the presence of multiple lithium bearing pegmatites across a 4km-long pegmatite field at the Roebourne Project.
• 20 rock chip samples were taken with the most significant result reported as up to 22% Li₂O and where this sample was collected from a pegmatite estimated to be 200m long and up to 6m wide at the surface.
• Roebourne is located adjacent to Azure Minerals’ (ASX:AZS) Andover lithium discovery.
• The company plans to conduct detailed mapping and sampling programs at Roebourne and Mt Sholl tenements.

Mineral explorer Raiden Resources Limited (ASX: RDN / DAX:YM4 ) has reported positive results from reconnaissance sampling program at the Roebourne project, located immediately adjacent to Azure Minerals’ Andover discovery.

The latest results confirmed the presence of multiple lithium bearing pegmatites across the Roebourne Project.

Data Source: Company update

As part of the initial due diligence, a reconnaissance mapping and sampling program was undertaken over two southern permits. Twenty rock chip samples were gathered from targeted features using satellite imagery. Field mapping reported the presence of multiple pegmatites across a 4km-long pegmatite field.

The sample R21160, collected from a pegmatite that is estimated to be 200m long and up to 6m wide at the surface, returned the most significant result - 2.22% Li₂O.

Following these results, the management plans to conduct a detailed mapping and sampling program across the project area. The planned campaign would include rock sampling at a greater density, exhaustive mapping of outcropping pegmatites and indepth soil sampling over areas with sediment cover.

Raiden shares soar

Triggered by the update, Raiden share price soared by 28.57% to AU$0.009 apiece at the time of writing on 1 August 2023. 

High-grade reconnaissance outcrop sampling outcomes

The most significant results were reported from the below rock chip samples-

• Sample R21160 – 2.22% Li₂O
• Sample R21163 – 0.98% Li₂O
• Sample R21168 – 0.37% Li₂O

Further plans

The initial due diligence relating to the acquisition of five Welcome Exploration Pty Ltd.’s tenements was of limited scope. Therefore, the company plans to conduct a detailed sampling and mapping program across the Roebourne project area.

On completion of this transaction, Raiden will control a significant lithium exploration portfolio in the Andover Complex ~39km² (Azure ~102km²).

Raiden also shared that a broader exploration campaign comprising sampling and mapping for lithium bearing pegmatites within the Mt Sholl project area adjacent to GreenTech Metals’ (ASX:GRE) Ruth Well project is in the planning phase. RDN highlighted that GRE recently reported high-grade lithium bearing pegmatite discovery on the Ruth Well project.