Resources Top 5: Nickel and lithium fight for top billing, while a small REO player is landing punches

RAIDEN RESOURCES (ASX:RDN)

Having completed a due-diligence period, Raiden has announced this morning its decision to go ahead and nab more lithium locations in the Pilbara, WA.

Specifically it’s acquiring an 80% interest in five tenements by the privately held Welcome Exploration project, adjoining the stupendously-hot-right-now Azure Minerals (ASX:AZS) lithium project.

The tenements cove a four-kilometre-long section of recurring high-grade lithium pegmatite outcrop on the Roebourne South project, with individual Li2O bearing pegmatites outcropping over a strike of 200 metres and up to 6 metres wide at surface.

During its fact-finding mission, Raiden turned up significant rock chip results including: 2.22% Li2O – sample R21160; 0.98% Li2O – sample R21163; 0.37% Li2O – sample R21168.

RDN’s lithium hunt is well underway now at the Roebourne, Arrow and Mt Sholl projects.

Acquired projects in relation to Raiden’s Roebourne Project and Azure Minerals’s Lithium-Nickel project. (Source: RDN ASX announcement.)

The company’s managing director, Dusko Ljubojevic, said: “With the due diligence exercise completed to our satisfaction, we are looking forward to progressing more detailed work programs and evaluating the entire Roebourne project area.

“With the confirmation of high-grade Li2O mineralisation within the mapped pegmatites, management will focus on mapping out in detail the outcropping areas and progress the projects to drill stage as soon as we can.

“Furthermore, our teams are currently in the field evaluating the entire portfolio for pegmatite/lithium potential and we are hopeful this will lead to definition of further anomalies and areas of interest.”

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