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Raiden Resources (ASX:RDN) is set to oversee a heritage survey on-site its Andover South lithium acreage.
Kicking off later this month, the scan reflects the company’s ongoing efforts through 2024 to bring Andover South up to speed, defying intense headwinds facing the lithium space.
The company is also looking forward to the maiden drilling program that will follow the survey – and for this reason, a lot of HotCopper users are watching closely.
Raiden’s geotechs interpret the company is sitting on top of 4.2km worth of strike – defined by pegmatite outcrops.
Pegmatite, for the uninitiated, is a very common host of lithium (though, not always.)
Whether or not the company can boast the market’s favourite lithium rock, spodumene mineralisation, remains to be seen.
(Spodumene auctions were ultimately what made Pilbara Minerals a household name.)
Of particular interest to stockpickers is that Raiden claims it has pegmatite outcrops on-site as wide as 50m.
The company also pointed to a range of lithium rock chip samples collected on-site grading from 2.15% up to 3.80%.
Readers would be wise to remember that given the nature of assaying and the much smaller size of rockchips, rockchip grades will generally always be higher.
At any rate, management remains bullish – and thanked local representatives.
“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.”
“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 (ASX:RDN) shares last traded at 2.6cps.
