Raiden Resources locks in heritage survey ahead of maiden drilling at Andover South

Raiden Resources secures heritage survey over priority lithium targets at Andover South
Survey is a key step in enabling maiden drilling to begin
Heritage survey also being sought for the Andover North project area

Special Report: Raiden Resources will carry out a heritage survey with the Ngarluma Aboriginal Corporation allowing it to conduct maiden drilling over priority lithium-bearing pegmatite targets at Andover South in the Pilbara.

The 80%-owned Andover South project directly abuts Azure Minerals’ (ASX:AZS) Andover lithium discovery where drilling has returned multiple +100m intersections.

Highlighting the prospective scale of this find, Chilean lithium giant SQM, which had originally acquired a 20% stake in AZS at the beginning of 2023, has reached an agreement with Gina Rinehart’s Hancock Prospecting to launch a joint bid for AZS that values the company at close to $1.7 billion.

Following initial reconnaissance efforts in August 2023 that identified outcropping pegmatites, Raiden Resources’ (ASX:RDN) subsequent work led to the definition of six priority targets at Andover South.

Outcropping pegmatites with individual widths of up to 50m and sampling up to 3.8% Li2O have been defined over a 4.2km strike.

With the takeover for AZS highlighting the potential value of a lithium discovery, the company is understandably keen to start drilling to test these targets.

Heritage survey to clear the way for drilling

As part of this effort, RDN will carry out the heritage survey on 25 March over priority drill targets.

This is aimed at allowing the company to start drilling as soon as possible.

“I would like to personally thank on behalf of Raiden the continued engagement and assistance of the Ngarluma Aboriginal Corporation in relation to the progress of the surveys across our projects,” RDN managing director Dusko Ljubojevic said.

“We are eager to continue the progress on what we believe is an exciting lithium project in one of the best mining jurisdictions in the world.

“With this heritage survey commencing, the company is closer to our objective of drill testing out defined high-grade pegmatite targets.”

Other activity

In parallel with the heritage survey, RDN is also working to secure a heritage survey over the Andover North project area.

This will allow the company to dual track a parallel exploration campaign over this area, which could lead to the definition of further pegmatite mineralisation.

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.