The global push for a sustainable, emission-free future drives growth in the electric vehicle (EV), renewable energy, and energy storage industries, spotlighting the lithium industry for its essential role in battery production. In 2022, the Lithium Carbonate Equivalent (LCE) supply was 750 kilotons, exceeding the 720 kilotons demand. By 2030, LCE supply is projected to reach 1.64 million tons, with demand surging to 3.06 million tons, underscoring lithium’s critical importance.
Raiden Resources Limited (ASX: RDN / DAX: YM4) (“Raiden” or the “Company”) is positioned to seize these opportunities with its flagship Andover South and Andover North Lithium Projects. Significant lithium deposits are found in hard rock pegmatites, particularly spodumene and petalite. The most economically viable source is spodumene, containing 0.5 to 2.5% lithium oxide (Li2O). Lithium hydroxide (LiOH) derived from spodumene is preferred for NMC batteries, which are set to dominate the EV market due to their superior energy density and performance.
Assay results and X-ray Diffraction analysis (XRD) confirmed that spodumene is the dominant lithium mineral at Raiden Resources’ Andover South Lithium Project.
Figure 1: Raiden Resources Limited
About The Company
Raiden Resources Limited (ASX: RDN / DAX: YM4), a dual-listed Australian minerals exploration and development company, is strategically positioned in one of the world’s top lithium-producing regions. Focusing on lithium, gold, copper, nickel, and platinum group elements (PGE), Raiden benefits from Australia’s prime location and robust infrastructure. This alignment with the growing global demand for these critical resources underscores Raiden’s potential for significant market impact.
Raiden Resources’ Project Portfolio
The Andover North & South Lithium Project
Figure 2: Raiden’s Andover South Project And Adjacent Azure Minerals Ltd.’s Andover Lithium Project
Raiden’s flagship asset, the Andover Lithium Project, is located in the Pilbara region of Western Australia. It is adjacent to Azure Minerals’ world-class Andover Lithium discovery, which was recently the subject of an AUD 1.7 billion takeover for a 60% stake in the Andover project. The Andover project promises to yield one of the largest lithium pegmatite discoveries in the world.
Additional Spodumene XRD Confirmation At The Andover South Lithium Project
Figure 3: XRD analysis results from rock sample R21533
In September 2023, Raiden Resources undertook rock chip sampling as part of the detailed mapping for drill planning over its flagship asset, the Andover South Lithium Project. The assay results indicate a high potential for significant, mineralised Lithium-Tantalum-Caesium (LCT) pegmatites. X-ray diffraction analysis (XRD) confirmed spodumene as the dominant lithium mineral in the pegmatites. The latest sampling (sample R21843) reported from the project yielded the highest grade lithium result (3.80% Li2O) defined to date.
- Outcropping pegmatites noted across a 4-kilometre-long pegmatite field
- Significant rock chip sampling indicates consistent results >1% Li2O with grades up to 3.8% Li2O
- Outcropping pegmatites have been mapped with up 50-meter widths
- The objective is to drill as soon as possible and in final planning phases
Final Heritage Report On The Andover South Project
Recently, Raiden Resources Limited received the final heritage reports on the key target areas of the Andover South Lithium Project (E47/4061 & E47/4062) and the Andover North project. The reports confirm that no culturally sensitive areas exist in the key target exploration areas. A drilling contractor will be appointed soon after the Company receives the final Andover North heritage report.
An air core exploration program is designed to test for further potential pegmatite-hosted mineralisation on tenements E47/3849 and E47/4063 at Andover North and those areas of Andover South, specifically E47/4061, where potential pegmatite-hosted mineralisation may exist under shallow sediment cover.
Figure 4: The Andover Lithium Project Tenement Schedule
Mr Dusko Ljubojevic, Managing Director of Raiden, commented: “With the final report received for the Andover South project, management is actively engaging with drilling contractors for the maiden Andover South Project diamond and RC drill program. In addition, the Company is planning an air core drilling program to test for further potential pegmatite-hosted mineralisation on tenements where potential pegmatite-hosted mineralisation may exist under shallow sediment cover. The extent of the air core drilling program will be finalised on receipt of the final heritage report for the Andover North Project. The Company is very excited to undertake the maiden drilling program across its Andover Projects and looks forward to updating shareholders of the planned start date in due course. The next steps towards achieving this major milestone are prescribed timeframes set by DEMIRS, so once the final heritage report is received, the Company will be better placed to confirm this timetable.”
Mt Sholl Property: Nickel-Copper-Platinum Group Elements Mineralisation
Figure 5: Mt Sholl Ni-Cu-PGE Project Location
The Mt Sholl project is located 22 kilometres southeast of Karratha, also in the Pilbara region of Western Australia. It is 100% owned by Raiden’s wholly-owned subsidiary, Pilbara Gold Corporation. The Mt Sholl property is 10 kilometres northeast of the Radio Hill nickel-copper-PGE historical mine and its processing infrastructure.
In April 2023, the Company announced a Maiden JORC Mineral Resource for the project. The MRE defined the following maiden resource:
23.4Mt @ 0.60% Ni_Eq1 or 1.54% Cu_Eq1 (at a 0.35% Ni_Eq cut-off) containing;
- 83.9kt of Ni metal, 93.7kt copper metal and 233,644oz of Pd+Pt+Au
- Including 5.8Mt @ 0.94% Ni_Eq or 2.48% Cu_Eq (at 0.70% Ni_Eq cut-off)
- 20.3Mt @ 0.58% Ni_Eq or 1.49% Cu_Eq are constrained within four shallow open pits (at 0.35% Ni_Eq cut-off)
Larger resource of 40.4Mt @ 0.45% Ni_Eq1 or 1.17% Cu_Eq containing 183.2kt of Ni metal, 473.0kt copper metal and 300,972oz of Pd+Pt+Au (at 0.15% Ni_Eq cut-off)
Based on historical drilling and modelling undertaken by the company, the company also defined a further JORC Exploration Target for the project as follows:
JORC Exploration Target of 80 – 150Mt at a grade range of 0.45% – 0.75% Ni_Eq or 1.15% – 1.95% Cu_Eq
The defined JORC Exploration Target underscores the significant potential that the project represents for the Company.
Strategic Partnership With Canadian Mining Major First Quantum Minerals Australia Ltd Over the Mt Sholl Ni-Cu-PGE Project
On December 13th, 2023, Raiden Resources entered into a strategic partnership (MOU) over the Mt Sholl Ni-Cu-PGE project rights with First Quantum Minerals Australia Ltd. After a 12-month due diligence (DD) period, FQMA will have the option to earn 70% stake in the Project through staged investments and Cash payment to Raiden. To attain a 70% equity stake, FQMA must independently finance a minimum of AUD 25 million over eight years for exploration activities and associated studies. Raiden would receive staged cash payments totalling AUD 10 million over the 8-year exploration cycle
Raiden will retain the rights to any gold or Lithium-Caesium-Tantalum (LCT) discoveries on the project, which it will explore at its own expense.
Raiden’s Other Assets in Portfolio
Arrow Lithium-Gold Project
The Arrow property is located 110 kilometres southwest of Port Hedland in the Pilbara region of Western Australia. The property consists of two exploration licenses (E47/3476 and E47/3478) covering an area of 377 km², with Raiden’s wholly-owned subsidiary, Pilbara Gold Corporation, holding a 100% stake in both licenses.
Figure 6: Arrow Lithium-Gold Project
Recent drillings from Morella Corporate (1MC) near Raiden’s location have established the presence of various pegmatites featuring lithium. The prominent results include:
- 16.4m @ 1.24% Li2O from 4.6m in hole M22_004_D
- 3m @ 1.37% Li2O from 54m in hole MRC050
- 3m @ 1.32% Li2O from 26m in hole MRC081
Mapping/sampling has defined outcropping pegmatites and Spodumene within the project area. Comprehensive sampling and mapping will soon commence over Raiden’s Arrow North tenement.
Recently, Raiden entered into an agreement with a private exploration company, Mallina Co Pty Ltd, over the Arrow project gold rights. Under the agreement, Raiden will receive cash/stock payments and a 25% free-carried interest up to the definition of a PFS or the completion of 50,000 meters of drilling.
In Serbia, Raiden owns the Donje Nevlje project and its subsidiaries. In Bulgaria, the Company owns the Vuzel Au-Ag Project, Zlatusha Cu-Au porphyry/epithermal Project, and BG1 Cu-Au advanced porphyry Project, providing shareholders with further copper-gold discovery upside potential.
Investor’s Outlook
Lithium prices have surged over the past three months, positioning Raiden Resources Limited for significant growth. Raiden is strategically accelerating its flagship assets under the leadership of Managing Director Dusko Ljubojevic, a geologist with 18 years of industry experience. Ljubojevic’s deep understanding of market trends and historical connections with significant mining companies underscore his strong network.
Notably, Raiden’s strategic partnership with First Quantum Minerals Australia Ltd. on the Mt Sholl Ni-Cu-PGE project highlights his effective leadership and vision for the company.
As of May 17th, 2024, Raiden’s Resources Limited’s shares traded at AUD 0.052 per share, with a 52-week range of AUD 0.003 – AUD 0.080. The Company’s market capitalisation is AUD 134.82 million, with 2696.58 million shares issued.
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