Target Zone 7 was the last to be uncovered but was already seen as a high priority. Pic: Getty Images
Raiden penetrates Pilbara pegmatite quarry at Target Zone 7
Mining
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- A first diamond hole into a new target area has intersected a large pegmatite zone and what appears as an ideal target for lithium
- The intercept holds significant implications across the entire Andover-adjacent project area
- Pilbara pegmatite represents one of the world’s largest sources of hard rock lithium
Special Report: Raiden Resources has struck a large pegmatite-bearing zone and what appears to represent a major structural corridor and ideal target to add to Andover South in the WA Pilbara.
Raiden Resources’ (ASX:RDN) first diamond hole into the project’s Target Area 7 struck the ~250m zone, running from 309m to end of hole at 558m.
The hole had to be terminated within a 57m thick pegmatite due to mechanical issues, but Raiden is going to run the rig again after finding what could be an ideal target for lithium in the Pilbara.
Raiden managing director Dusko Ljubojevic said the drill intercept has significant implications for planning and targeting across the entire project.
“ASDD023 has intersected a major structural trend, which comprises of multiple, wide stacked pegmatites, as well as altered intrusives,” he said.
“This intercept will allow us to now vector into this zone along strike and at depth.”
Ljubojevic added that observations from the hole are also driving its strategy for exploring other targets across the project.
“Our initial observations suggest that drilling to date on Targets 1 and 2 has tested the upper parts of the system whereby the main target, or structure remains untested on the southern periphery of Target Area 1,” he said.
“While we are drill testing the direct extensions of the ASDD023 drill intercept, we will be modelling the extensions of this pegmatite trend for future drill testing on Target Areas 1 and 2.”
Lucky 7
Andover South sits nearby, in the obvious direction away from the Azure Minerals (ASX:AZS) Andover discovery, now in SQM and Hancock Prospecting hands after a $1.7 billion takeover deal.
Even through a price downturn for lithium Raiden got a firm backing to raise $10m by placement to advance the project with a much-anticipated drill campaign.
Target Area 7 was the last target area Raiden uncovered ahead of the campaign but was hardly last on the pecking order given a high degree of desired fractionation.
The seven zones cover 4.2km of strike across the project, but it appears Raiden has an early priority to square in on.
Plan of attack
Raiden has received its first dozen holes of the maiden campaign, returning a widest intersection of 15.3m at 0.53% Li2O with highest individual grades going over 2%.
The company considers the main target zone remains untested and is planning for more drilling over the central tenement target areas 1 and 2.
But management plan to further concentrate on no.7, testing for pegmatite extensions along strike to the southeast, up dip, and at depth while looking for potential analogues across Andover South.
Remaining holes sampled from areas 1,2, and 7 will soon be sent to the lab for assay, with results expected within a month after.
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.
