Raiden eyes mouthwatering walk-up drilling with five extra target zones to sink into at Andover South
Special Report: K/Rb analysis has mapped further targets across the Andover South lithium project area, adding five more zones of interest on top of the already defined Target zone 1 which has a ~1.5km strike extent.
Raiden Resources’ (ASX:RDN) 80% owned Andover South project in the WA Pilbara’s hotbed of lithium mining activity directly abuts one of this year’s market darlings – Azure Minerals’ (ASX:AZS) own Andover discovery, which is pegged to be one of the next world-class lithium projects.
AZS just this week announced that lithium giant SQM and Gina Rineheart’s Hancock Prospecting had joined forces to acquire the company for $3.70/sh, implying a value of a whopping $1.7bn.
Results from K/Rb ratio analysis based off a recent rock chip sampling program have delivered five further target zones at RDN’s Andover South project ahead of a planned maiden drilling campaign.
Before maiden drilling, further work will be undertaken to confirm the potential zones of interest, including:
Raiden MD Dusko Ljubojevic says that with ongoing work the teams are starting to define further potential on the Andover South project.
“On the basis of K/Rb ratio analysis and zonation mapping of all pegmatites, we have defined a further five zones of interest, which will be evaluated in more detail in the coming months,” Ljubojevic says.
“We hope that through the improved understanding of the zonation of the pegmatite field, as well as individual pegmatites, future sampling will confirm the mineral potential within the recently defined targets.
“We will re-evaluate all the target areas with the view of potentially drill testing them in conjunction with Target Area 1, the company’s established target zone.
“Shareholders can be assured that whilst awaiting heritage survey dates for drill access, which are being followed up on a regular basis, the company is diligently continuing to explore its Pilbara lithium projects, especially Andover, with the aim of defining numerous walk-up drill ready targets.”
This article was developed in collaboration with Raiden Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.