Raiden Resources (ASX: RDN) Optimistic About Starting Drilling at Andover South, WA, by Mid-October

August 21, 2024 10:25 AM AEST | By Team Kalkine Media

Google News:

Raiden Resources (ASX: RDN) Optimistic About Starting Drilling at Andover South, WA, by Mid-October — Image source: shutterstock

Recent News

13th World Peace Forum held in Beijing, calls for shared responsibilit...

Enhancing Capacity and Logistics Flow, Minister Al-Jasser Lays Foundat...

Dalai Lama’s 90th: A Global Celebration of Compassion, Peace, and Wisd...

FAIR PLAY MENARINI INTERNATIONAL AWARD, A WAVE OF EMOTIONS MARKS THE 2...

Highlights:

Drilling Timeline: Raiden Resources (ASX:RDN) aims to commence drilling at its Andover South project by mid-October, pending the grant of the tenement and approval of the Programme of Work (PoW) by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).

Approval Process: The company has completed the necessary agreement with the Native Title entity and the tenement vendor. It expects the tenement grant application to take three to five weeks, though this timeline is not guaranteed.

Drilling and Results: Following the tenement grant and PoW approval, Raiden plans to start diamond drilling on-site. Initial mineralisation data could be available by late 2024 or early 2025, depending on assay laboratory turnaround times.

Raiden Resources (ASX:RDN) is targeting the end of this year to start drilling at its Andover South project in Western Australia, following the execution and lodging of a final agreement with the relevant Native Title entity and the tenement vendor with the WA government.

With this agreement now in place, Raiden can proceed with its application to the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for a tenement grant for E47/4062. The company anticipates that this process will take approximately three to five weeks, though it noted that this timeframe is not guaranteed.

Once the tenement is granted, Raiden plans to promptly submit a Programme of Work (PoW) for diamond drilling on-site, which is expected to take an additional 15 days. If all goes according to plan, drilling could commence by mid-October. Depending on the turnaround time for assay results, shareholders might see initial mineralisation data by the end of 2024, or early 2025 if delays occur.

Raiden’s Managing Director, Dusko Ljubojevic, commented, “With heritage approvals secured and the State Deed for E47/4062 now finalized, we are pleased to outline our expected timeline for the maiden diamond drilling program at the Andover South Lithium Project. The next steps involve the tenement grant and the approval of the PoW by DEMIRS. Our earthmoving and drilling contractors are prepared to mobilize as soon as the PoW is approved.”

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.