Berkshire is hoarding so. much. cash.
Raiden Resources Discovers High-Grade Lithium Deposits in Andover South
Mining company Raiden Resources has announced exceptional lithium results and additional X-Ray Diffraction (XRD) confirmation of spodumene at the Andover South project.
During detailed mapping in September 2023, the company undertook rock chip sampling that yielded the highest-grade lithium result defined so far from the Andover South tenements. These findings continue to indicate high potential for significant and mineralized Lithium-Tantalum-Caesium (LCT) pegmatites.
High-Grade Trend Continues to Impress
Raiden Resources Managing Director, Mr. Dusko Ljubojevic, responded positively to the assay results, saying that while the trend of high-grade results from Andover South continues to impress, the company is particularly excited by the definition of further mineralized pegmatites on the western periphery. The western anomalies reported the highest grades defined to date, characterized by multiple pegmatites. The work undertaken by the company in the last quarter is yielding multiple high-value targets for the planned drilling campaign, which will be initiated as soon as heritage surveys are completed.
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Preparing for the Drill Campaign
Once the Program of Work (POW) has been approved by the Department of Mines, management will prioritize drilling at the high-potential sites identified through detailed mapping. Mr. Ljubojevic notes that they will continue to evaluate the prospects for further high-priority targets while progressing with the evaluation of the entire portfolio of projects for LCT mineralization.
XRD Analysis Confirms Spodumene as Dominate Lithium Mineral
The latest XRD analysis undertaken on the Andover South project has confirmed spodumene as the dominant lithium mineral. Mapping and sampling have also continued to support the defined high-grade Li2O trend within the central part of the pegmatite field. The field extends over 1. 5km along the strike, with increased prospectivity at the western end of the zone. These results suggest that the Andover South project has a strong potential for high-grade lithium deposits.
Implications for Lithium Market
The discovery of high-grade lithium deposits at the Andover South project is positive news for the mining industry and the lithium market, as it may help meet the increasing demand for locally sourced lithium products. Lithium is a crucial component in the production of batteries, which power portable electronic devices and electric vehicles. Therefore, the availability of high-grade lithium deposits is essential for the further development of these technologies.
Impact on Raiden Resources
The discovery of high-grade lithium deposits at the Andover South project is positive news for Raiden Resources and its shareholders. The company will continue to evaluate the prospects for further high-priority targets while progressing with the evaluation of its entire portfolio of projects for LCT mineralization.
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