Raiden Resources (ASX:RDN) has confirmed 5 new potential zones for lithium-bearing pegmatites at its Andover South Project in Western Australia, via pegmatite outcrop analysis.
The $100.86 million market capitalisation company reports the new target zones of interest are characterised by a high-degree of fractionation of the pegmatites, suggesting potential for lithium-caesium-tantalum (LCT) mineralisation.
Raiden says a new prospective target zone that sits on E47/4061 is the first evidence of prospectivity on this particular tenement and expands the potential strike of the key target zone in the pegmatite field to 4.2km.
The company now plans to expand its maiden drilling program to test all of the prospective target zones identified to date.
Raiden Resources Managing Director Dusko Ljubojevic says these defined zones of interest will be evaluated in more detail in the coming months.
“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.
The company 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.”
Raiden is undertaking further targeting work over areas obscured by sedimentary cover. This work will be carried out prior to starting drilling, in order to confirm further potential zones of interest.
The company has engaged CSA Global to support the re-evaluation exercise of Andover, based on the recent findings. Raiden is in process for a heritage survey and awaiting to schedule a date.
Raiden Resources is a dual-listed explorer and developer focused on advancing its Mt Sholl Nickel-Copper-Cobalt-Palladium deposit in the Pilbara.
As of 30 September 2023, the company had $5.703 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Raiden Resources
