Raiden Resources (ASX:RDN) has secured an archaeological/anthropological heritage survey over its priority lithium-bearing pegmatite targets at the Andover South Project in Western Australia.
The $69 million market capitalisation company says the survey is expected to begin on 25 March 2024 and will encompass areas where Raiden has defined priority targets for drilling over the ‘high-grade’ pegmatites at the project.
Once the survey has been completed and all regulatory approvals are in place, Raiden is focused on starting drilling activities as soon as possible.
The drilling program will be focusing on the key targets on Andover South, with outcropping pegmatites defined along a 4.2km strike and with individual pegmatites defined up to 50m widths.
Managing Director Dusko Ljubojevic says: “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.”
Raiden has been proactively engaging with the Ngarluma traditional owners across the project area, where the aim is to ensure the traditional owners knowledge of the area is used to avoid areas of cultural significance.
In parallel with the heritage survey, Raiden’s management team are working to secure an additional survey over the Andover North project area. This will allow the company to dual track a parallel exploration campaign, which will aim to lead to further definition of potential pegmatite mineralisation.
Raiden Resources is a mineral explorer and developer focused on its nickel, copper, cobalt, palladium, and gold assets in Serbia, Bulgaria, and across Australia.
As of 31 December 2023, the company had $7.714 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Raiden Resources
