Pegmatites and Visual Spodumene Mineralisation Mapped at Arrow Lithium Project
Sydney, Oct 30, 2023 AEST (ABN Newswire) - Raiden Resources Limited (
ASX:RDN) is pleased to report on the results of mapping program on the Arrow North project (E47/3476).
Highlights
- Field observations confirm visual spodumene mineralisation in outcropping pegmatites at Arrow Project
- Project is located in proven lithium-pegmatite district with defined lithium bearing pegmatites hosted in the district and on the Arrow Project
- Project geology and setting considered highly prospective for LiCs-Ta mineralisation, with historical results confirming presence of lithium bearing pegmatites on the Arrow project
- Additional samples have been collected and will be submitted for further XRD analysis to confirm Spodumene mineralisation
- Soil sampling analysis is pending and full data results are anticipated in the near term
- Raiden entered into an agreement with Arrow Minerals Limited (ASX:AMD) to earn-in to 85% position of the Arrow Project (E47/3476 & E47/3478) Lithium-Caesium-Tantalum (Li-Cs-Ta or "LCT") rights, with option to purchase 100% of those rights (Raiden has 100% of all other mineral rights on Arrow Project)
Mr Dusko Ljubojevic, Managing Director of Raiden commented: "Our systematic exploration efforts have once again been rewarded, this time on the Arrow project. The definition of pegmatite outcrops in another emerging district in the Pilbara is adding to the overall lithium potential within our exploration portfolio. The visual determination of Spodumene mineralisation is very encouraging, however XRD analysis is required to confirm the exact nature of the mineralisation. We are also hopeful that the soil analysis for LCT suite of minerals will define further trends to be followed up on an ongoing basis to fully realise the potential of the project."
Mapping program
The 100% owned Arrow project (E47/3476 and E47/3478) totals 223km2. Historic exploration in the area has identified fertile and fractionated granitic intrusions, which may produce mineralised Li-Cs-Ta ("LCT") bearing pegmatites. Historic rock sampling and field observations confirmed that the Satirist Granite is the likely source of LCT bearing pegmatites within the district.
The ongoing field reconnaissance, mapping and sampling program focussed on areas of interest identified from satellite analysis by external consultants Terra Resources Ltd. The teams also evaluated priority areas directly to the north of Morella Corporation Ltd's (ASX:1MC) pegmatite discovery.
As a result, the teams have visually identified spodumene crystals within several rock samples collected from outcropping pegmatites located in the western area of Arrow North (E47/3476), which is situated directly to the north of Morella Corp's pegmatite discovery.
Further indication of potential Spodumene mineralisation was provided by the fluorescence test of samples under Ultraviolet ("UV") light. Spodumene mineralisation may fluoresce (usually pink), under UV light and is a commonly used field technique to evaluate for the presence of Spodumene mineralisation. The images in Figure 4* show several of the rock samples, both under a UV light and natural light conditions for comparison indicating potential Spodumene mineralisation.
In order to further the understanding of the mineralogy on Arrow Lithium Project, XRD analysis and mineralogical evaluations will be undertaken on additional samples.
Soil Sampling
The Company has submitted all the soil sample pulps (collected during the maiden sampling program on the Arrow project and which was evaluating the gold potential of the project), for re-analysis for the LCT suite of minerals. Management believe that the pegmatites on the Arrow project may be obscured by a sediment cover and the soil sampling results will hopefully define target areas with elevated LCT geochemical responses for further follow up.
About the Arrow Project
The project lies within the folded and faulted siliciclastic, volcaniclastics and mafic sills of the Mallina Basin, which is part of the De Grey Supergroup (3010 to 2930 Ma). The Satirist Granite (2935 Ma) intrudes the southern portion of the project area and is considered to be the source of the lithium mineralisation in the district.
The Company owns 100% of the two tenements, but the Li-Cs-Ta rights are currently owned by Arrow Minerals Limited (ASX:AMD). Raiden currently holds an exclusive option to earn up to an 85% interest in the Granted Li-Cs-Ta Rights (with an option to acquire the remaining 15% to attain a 100% interest in the Li-Cs-Ta rights), and potentially form a joint venture, by fulfilment of certain milestone and expenditure obligations in relation to exploring for Minerals within the Tenements, on the terms set out in the recently announced agreement with Arrow Minerals (Refer ASX announcement on the 7th August 2023).
Raiden also has the exclusive option, at it sole discretion, to acquire an immediate 100% interest in the Li-Cs-Ta rights (Upfront Option) during the upfront option Period, subject to the satisfaction of the Upfront Option Conditions.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Q60PFN5Y
About Raiden Resources Limited
Raiden Resources Limited (ASX:RDN) (DAX:YM4) is a dual listed exploration and development company which is advancing the Mt Sholl Nickel-Copper-Cobalt-Palladium deposit in the Pilbara. The Company's portfolio host metals and commodities considered critical for the energy and electrification revolution.
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