Raiden Resources Completes Preliminary Structural Interpretation for Andover South Lithium Project
RDN (RDN) Share Update September 2024 Thursday 26th
Raiden Resources Completes Preliminary Structural Interpretation for Andover South Lithium Project
Raiden Resources Limited (ASX: RDN) has successfully completed a preliminary structural interpretation of the Andover South Lithium Project, leveraging magnetic data from a recent drone survey.
Instant Summary:
- Completion of district-scale structural interpretation of the Andover Complex.
- Detailed evaluation of magnetic survey data over the Andover South Project.
- Preliminary findings indicate mineralisation is hosted within ultramafic units of the Andover Complex.
- Mineralisation appears confined to a well-defined north-east trending structural corridor.
- Next steps include refining geological boundaries and identifying potential blind targets.
- Drilling scheduled to commence over the weekend with a formal update on Monday.
Structural Interpretation Details
Raiden Resources has completed a preliminary structural interpretation of the Andover South Lithium Project using magnetic data captured from a drone survey conducted in July 2024. The survey covered tenements E47/4062 and E47/4061 and utilized data from a Scintrex CS-VL cesium vapor magnetometer.
The interpretation reveals that the mineralisation within the district is hosted exclusively within the ultramafic units of the Andover Complex. It is confined to a well-defined north-east trending structural corridor and appears to be hosted within the footwall of a second-order structure within this broader corridor. Additionally, the mineralisation is offset by post-emplacement structures.
Next Steps
The next steps for Raiden Resources include refining the geological boundaries of the Andover Complex within the company's project area. This will be followed by a detailed exercise to define potential blind targets under sediment cover, based on the detailed magnetic data at the Andover South project. Drilling is scheduled to commence over the weekend, with a formal update expected on Monday.
Management Comments
Mr. Dusko Ljubojevic, Managing Director of Raiden, commented: 'We undertook this exercise with the objective of understanding the district scale structural setting and the relationship between the observed mineralisation at Andover South to the setting of the Andover Deposit, which is located to the north-east of our target area. The district scale controls on mineralisation inferred from this exercise will assist us to plan and refine our analysis on an ongoing basis with the aim of defining further target areas and aligning our planned exploration activities through the entire project area.'
The completion of the preliminary structural interpretation is a positive step for Raiden Resources, as it provides valuable insights into the mineralisation patterns within the Andover South Project. This information will be crucial for planning future exploration activities and could potentially lead to the discovery of new mineralisation zones. The commencement of drilling is likely to generate interest among investors, although the impact on the stock price will depend on the results of the drilling program.
Investor Reaction:
Analysts are likely to view this development positively, as it demonstrates Raiden Resources' commitment to advancing the Andover South Lithium Project. The detailed structural interpretation provides a clearer understanding of the mineralisation patterns, which could enhance the company's exploration strategy. However, the true impact on investor sentiment will depend on the outcomes of the upcoming drilling program.
Conclusion:
Investors should keep an eye on the formal update expected on Monday and monitor the progress of the drilling program. The preliminary structural interpretation is a significant milestone for Raiden Resources, and the results of the drilling could provide further insights into the potential of the Andover South Lithium Project.