Raiden uncovers 30m wide outcropping pegmatites at Andover South, right next door to Azure Minerals
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Early-stage mapping reveals swarms of outcropping and interpreted pegmatites of up to 30m width at surface at Raiden’s Andover South project.
The newly acquired ground is south of the Andover lithium project, where Azure Minerals (ASX:AZS) is drilling toward a maiden resource in Q1, 2024.
Here, exceptionally thick drill results with intersections of up to 2.13% Li2O culminated in a monster exploration target of 100-240Mt and an informal (and rebuffed) takeover offer from SQM, one of the biggest lithium miners in the world.
Raiden’s (ASX:RDN) says early indications are that the lithium system at Andover South may also be “of significant scope and nature”.
These outcropping pegmatites have been defined across a 3.5km long and 600m wide pegmatite field at the Andover South tenements E47/4061 and E47/4062, where a potential source of the required fractionated mineralising fluids comes from the nearby Black Hills Monzogranite.
This monzogranite wraps around the sequence which hosts Azure’s (ASX:AZS) Andover lithium project.
According Raiden, multiple swarms of pegmatites have been mapped throughout the project and are in line with previously reported reconnaissance outcrop sampling, which confirmed multiple high-grade results including:
RDN managing director Dusko Ljuojevic says the widths of the pegmatites – up to 30m in outcrop – are providing encouragement that the pegmatite system may be bigger than initially anticipated.
“Our teams are now mapping and sampling the remaining tenements of the Andover South and Andover North project area and we hope to provide results to the market in the near term,” he adds.
Raiden says the aim of the current mapping and sampling program is to follow up on the company’s recently announced high-grade, lithium bearing pegmatites on the Andover South Project, and to define the potential size and extent of the pegmatite field.
The teams are now turning their mapping efforts to tenement E47/4061, where it is anticipated that pegmatites may outcrop in the prospective outcropping geology of that tenement.
Rock samples from outcropping pegmatites will be assayed by ALS Perth, with results to be released as soon as possible.
With pegmatite mapping and reconnaissance work ongoing across the entire portfolio, including Mt Sholl and Arrow projects, there may very well be more stories to come from Raiden.
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.