Opportunity could be knocking as Raiden samples high-grade lithium right next to Azure’s Andover discovery. Pic via Getty Images.
Mining
Raiden is in the process of acquiring Welcome Exploration’s Pty Ltd Roebourne tenements and already, due diligence reconnaissance outcrop sampling has defined multiple lithium-bearing pegmatites.
The outcropping pegmatites are noted across a 4km long field with individual lithium-bearing pegmatites outcropping over a strike of 200m and up to 6m wide at surface.
Notably, the 20 rock chip samples returned a top result of up to 2.22% Li2O.
That’s a great result for any such an early stage of exploration, but gains a great deal more relevance when one considers that the tenements which Raiden Resources (ASX:RDN) is acquiring are immediately adjacent to Azure Minerals’ (ASX: AZS) 60%-owned Andover lithium discovery to the south.
The ‘why’ is simple. Azure’s drilling at Andover has returned multiple +100m lithium intercepts with grades in excess of 1% Li2O, while also confirming that broad mineralised zones extend for more than 1,200m along strike and down-dip from surface to vertical depths in excess of 350m – increasing the likelihood of finding a +100Mt deposit.
At this point, the fact that famed prospector Mark Creasy’s company Creasy Group owns the remaining 40% in Andover just adds more flavour to the over tasty feast.
“These reconnaissance samples are highly encouraging and provide further evidence the Roebourne project is prospective for high-grade, pegmatite hosted Li2O mineralisation,” managing director Dusko Ljubojevic said.
“Whilst the initial due diligence program was of limited scope, results confirm the potential of the high prospectivity of the Roebourne project.
“We will now be undertaking a detailed review of the entire project area, including evaluating the potential of the Mt Sholl project for pegmatite hosted lithium mineralisation. Investors will be kept updated if further areas of interest are defined.”
Raiden had in late June reached the agreement to acquire 80% of five tenements in Roebourne from Welcome Exploration.
These five tenements cover about 39km2 of the Andover Complex, which is largely dominated by Azure.
Adding further to their prospectivity, the project – like Andover – is also prospective for nickel sulphide mineralisation as two of the tenements host the same geological setting and are adjacent to the Andover/Ridgeline nickel deposit, which currently has a resource of 6Mt grading 1.1% nickel and 0.47% copper.
Roebourne South has ready access to excellent infrastructure as well as all exploration support services in Karratha, which is just 40km by road to the west.
The properties are also transected by a road network, which allows for rapid and cost effective evaluation and support of the project.
The company plans to carry out more detailed mapping and sampling across the entire Roebourne project area.
This will include detailed mapping of outcropping pegmatites, rock sampling at a greater density, and detailed soil sampling over areas with sediment cover.
A broader exploration program, including mapping and sampling for lithium-bearing pegmatites within the company’s Mt Sholl project area, adjacent to the recently announced discovery of high-grade lithium bearing pegmatites by GreenTech Metals (ASX: GRE) on the Ruth Well project, is also in planning phases and will be undertaken in the near future.
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.
