Multiple Lithium Soil Anomalies Defined at Mt Sholl Project
Perth, Dec 5, 2023 AEST (ABN Newswire) - Raiden Resources Limited (ASX:RDN) is pleased to announce the results of a soil sampling program for the Mt Sholl North Project.
- Soil sampling program has defined several clear lithium in soil trends at Mt Sholl Lithium Project
- Soil geochemistry delineates a Lithium in soil trend with 3.5km strike length and with peak value of 138.5ppm Lithium (298ppm Li2O), extending across the north-central part of the tenement
- A Lithium in soil trend with 2.5km strike length, with peak value of 187.5ppm Lithium (404ppm Li2O), defined in the southeastern part of the permit
- Defined anomalies are located along strike to GreenTech Metals Ltd (ASX:GRE) Osbourne JV pegmatite discovery
- Detailed follow up program will be initiated in early parts of Q1 with objective to define drill targets for testing in '24
Mr Dusko Ljubojevic, Managing Director of Raiden commented:
"These recent results from the Mt Sholl campaign have defined multiple anomalous lithium trends within the property. The fact that the anomalies are within the same district and along strike from a recent pegmatite discovery on the adjoining property, provide further encouragement that the anomalies may be associated with a mineralised system.
Management plan to initiate a detailed follow up work campaign in order to refine the anomalous trends and hopefully define drill targets on the Mt Sholl lithium project. Over the past several months, the Company has been undertaking targeting work over multiple properties and we are very pleased that the work is yielding positive results, that will hopefully lead to multiple drill programs."
In order to evaluate the potential for lithium bearing pegmatites on the northern parts of the Mt Sholl project, which is considered the most prospective, the Company executed a soil sampling program over the tenement2 during October. The samples were analysed for the full suite of LCT elements, as well as other elements.
The objective of the program was to assist in defining the most prospective areas of the project, as well as provide insight into the potential zoning of the mineralised system, define the direction and location of the potential source granites and highlight any structural trends which may act as hosts for mineralised pegmatites. While a significant part of Mt Sholl project is outcropping, certain parts of the project area are obscured by transported cover making soil sampling an integral exploration tool for the area.
On the basis of the results to date, several distinct geochemical trends have been defined. 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. 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 1*). 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. 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.
Further work is being planned for follow-up programs in the early-2024.
This will include a detailed analysis of the regolith in relation to these soil anomalies. In addition, previously mapped structures, and a re-evaluation Raiden's aeromagnetic data will be used to target for potential concealed structures, which may act as potential hosts of LCT pegmatite mineralisation.
*To view tables and figures, please visit:
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.