Raiden Resources (ASX: RDN) Unveils Promising Pegmatite Zone at Andover South

Highlights

• Maiden diamond drillhole (ASDD023) at Andover South intersected a significant ~250-metre pegmatite-bearing zone in Target Area 7.
• Drillhole ASDD023 terminated within a 57-metre-thick pegmatite zone, with plans for redrilling to continue exploration in Target Area 7.
• Initial drilling in Target Areas 1 and 2 revealed 15.3 metres at 0.53% Li₂O, with further drilling planned to explore untested zones.

Raiden Resources Limited (ASX:RDN) has announced a notable discovery at its Andover South Lithium Project, situated in the Pilbara region of Western Australia.

The initial results from its maiden diamond drilling program revealed a significant ∼250-metre pegmatite-bearing zone, with the first diamond drillhole (ASDD023) drilled in Target Area 7. This promising intersection underscores the project's potential for further exploration.

Additionally, planning for subsequent drilling in Target Areas 1 and 2 is underway, aiming to expand on these initial findings and further assess the lithium-bearing zones within the project area.

Significant pegmatite system intercepted at Target Area 7

Target Area 7, located on the western side of tenement E47/4062, is believed to have potential for fractionation and lithium mineralisation. The first diamond drillhole in the area revealed a broad zone interpreted as multi-phase pegmatite, hosted within biotite-altered porphyritic dykes and intrusions.

The first drillhole encountered pegmatite intersections up to 57m thick. However, drilling was halted at a depth of 558m due to mechanical issues with the rig. Plans are underway to redrill this hole for further exploration.

Preliminary analysis suggests that the pegmatites are located within a significant structural corridor, which could accommodated substantial pegmatitic intrusions. Drill testing along the strike is underway and includes the completion of drill hole ASDD023 to accurately determine the true width and extent of the mineralised system.

Potential of Target Areas 1 and 2

The maiden drilling campaign at the Andover South project has intersected pegmatites in all 12 drill holes assayed to date. Pegmatite thicknesses range from less than 1m to 15m.

Early analysis suggests the pegmatite system dips shallowly to the north and is hosted within massive, structurally undisturbed gabbro.

Deeper intersections reveal the potential for a stacked system with repeated pegmatite formations at depths.

Management's interpretation suggests that the mineralisation at Target Areas 1 and 2 is hosted within a structural framework, which could accommodate pegmatite intrusions within varying strike and dip orientations.

The recent discovery at Target Area 7 supports the theory that previous drilling in Target Areas 1 and 2 may have only targeted the upper sections of the system with the main structural targets still untested and potentially located further south of the current drilling limits.

Ongoing activities and plans

In the coming week, samples from Target Areas 1, 2, and 7 will be sent for laboratory assaying, with assay results anticipated in 3-4 weeks. Drilling at Target Area 7 is underway to explore potential extensions of the pegmatite zone along strike, up-dip, and at depth.

Additionally, initial drill testing will commence at Target Areas 3 and 4.

Based on promising intercepts from Target Area 7, management is re-evaluating Target Areas 1, 2, 5, and 6, along with broader structural trends, and plans further drilling campaigns.

RDN shares traded at AU$0.017 on 26 November 2024.