- Raiden Resources (ASX:RDN) shares were up more than 10 per cent in early morning trade today on the release of an independent technical analysis
- The technical analysis confirmed five new zones at the company’s Andover South project in WA
- Raiden will expand its maiden drilling program to test all six of the prospective target zones
- Work also continues to define further zones
- Shares in RDN last traded at 4 cents
Raiden Resources (ASX:RDN) shares were up more than 10 per cent in early morning trade today on the release of an independent technical analysis confirming five new target zones at the company’s Andover South project in Western Australia.
The technical analysis in question was carried out by CSA Global in an effort to assist in a re-evaluation exercise of the project that resides in WA’s Pilbara.
“With ongoing work the teams are starting to define further potential on the Andover South project,” RDN Managing Director Dusko Ljubojevic said.
“On the basis of K/Rb ratio analysis and zonation mapping of all pegmatites, we have defined a further five zones of interest, which 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.”
Mr Ljubojevic added that the company will work to re-evaluate all target areas with its sights set on drill testing them in conjunction with Target Area 1.
Following the results, Raiden will now expand its maiden drilling program to test all six of the prospective target zones. Work also continues to define further zones.
“Shareholders can be assured that whilst awaiting heritage survey dates for drill access, which are being followed up on a regular basis, the Company is diligently continuing to explore its Pilbara lithium projects, especially Andover with the aim of defining numerous walk-up drill ready targets,” Mr Ljubojevic said.
Shares in RDN last traded at 4 cents.