IP survey completed and infill sampling programs commence
Perth, Jan 22, 2024 AEST (ABN Newswire) - Raiden Resources Limited (
ASX:RDN) (YM4:FRA) is pleased to update shareholders on the current work programs underway on the Company's Mt Sholl and Andover Projects.
Based on the positive results from the recently completed lithium-caesium-tantalum ("LCT") soil sampling program over the Mt Sholl North (E47/3181) tenement, reported in December 2023, the Company has now commenced an infill soil sampling program to define the potential lithium mineralisation more closely in this area.
Mr Dusko Ljubojevic, Managing Director of Raiden commented: "Management is pleased that we have maintained our operational momentum throughout the December period, with ongoing work by First Quantum on the Ni-Cu project, which itself has defined new prospects for follow up. In parallel the Company has implemented a new infill program to further refine the lithium anomalies on the Mt Sholl lithium trend. While this work is ongoing, our key objective remains the completion of the heritage surveys across the Andover project area as soon as possible. Management have continuously engaged with all stakeholders on an ongoing basis and we hope with the completion of the holiday period that the surveys will be achieved in the near term."
As with the maiden program the objective of this program is to assist in defining the most prospective areas of the project for potential drill testing, as well as provide insight into the potential zoning of the mineralised system. While a significant part of Mt Sholl project geology is outcropping, certain parts of the project area are obscured by transported cover making soil sampling an integral exploration tool for the area.
A total of 823 samples are planned to be collected during the current program, which will bring the sampling density to 100m x 50m in the areas of interest, as defined in the 2023 soil sampling program (see Figure 1*).
As part of the current program, the sampling crew will also be collecting samples on behalf of First Quantum across zones of Ni-Cu soil anomalism on E47/3181.
The zones identified for further sampling are separated from the lithium-in-soil anomalies, and the current extent of the main anomaly is 1.2km x 0.4km, in an east-west trend, within the central northern part of the tenement. Further zones of interest are located along the western part of the tenement within a coherent zone trending northwest-southeast extending for 1.2km, and with a maximum width of 0.3km. These zones can be seen in further detail in Figure 2* below.
As previously announced, the initial 2023 soil sampling program defined several distinct geochemical trends. A +30ppm lithium soil trend in the central western part of the permit area extends along a 3.5km east-west trending corridor, with peak values of 138.5ppm lithium (298ppm Li2O). The strike of the trend aligns with GreenTech Metals Ltd (ASX:GRE) released lithium-in-soil anomalies, positive rock sampling, and their recently announced intersection of pegmatites in drilling (Figure 3*). The highest values are in the western part of the project area.
A >50ppm lithium soil anomaly in the southern part of the license extends over a 2.5km strike extent, with a peak value of 187.5ppm lithium (404ppm Li2O). This trend does not seem to be associated with any of the known anomalies/trends in the district and is a new target area which the Company will evaluate through the upcoming programs.
Induced Polarisation (IP) survey
During December 2023 First Quantum completed an IP survey over the northern extent of the Mt Sholl B2 Ni-Cu-PGE deposit. The aim of this IP survey was to trial the method over the known mineralisation to define the potential response within the disseminated style of mineralisation. If the orientation survey produces sufficiently strong/coherent anomalies, further use the IP survey method may be utilised to evaluate a greater area across the entire intrusion. Results of the survey have not yet been finalised.
First Quantum are currently reviewing the results of the IP survey, and once the review has been completed will be planning additional work over the Mt Sholl Ni-Cu-PGE deposits, and which may include a ground electromagnetic (EM) survey.
Andover Project Update
The Company continues to engage proactively with the Traditional Owners, through the Ngarluma Aboriginal Corporation, to schedule heritage surveys across the Andover South and North project areas, with the clear aim of ensuring the Traditional Owners knowledge of the area is used to avoid areas of cultural significance.
Raiden remains committed to conducting these heritage surveys as soon as possible and once the timing of these surveys has been finalised the Company will inform shareholders.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/4AECXM91
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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