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ANDOVER WEST

PEGMATITE POTENTIAL IN PRIME LOCATION

  • ERW pegmatite swarm only ~12 kms from Azure Minerals Ltd priority pegmatite location
  • Further exploration potential <4km from Raiden Resources recent pegmatite discovery, reporting assays up to 2.73% Li2O1
  • During maiden nickel focused drilling program, a number of pegmatites were intersected in drill holes
  • Multiple reported lithium assays >150 ppm range which is well above the background average of 15 ppm
  • SQM invests $20m in Azure for lithium exploration2, (Azure now capped at >$2.5b on 100% project ownership)
  • Ground reconnaissance and sampling is continuing with multiple new pegmatites being identified
  • Follow up sampling shows numerous anomalous results which contain lithium, caesium and tantalum (LCT) elements, indicating they are potentially fertile for lithium mineralisation
  • Lithium anomalous pegmatites may be part of a new discrete lithium pegmatite zone that includes recent discoveries by Raiden
  • Areas of interest are located only 2km west of the lithium pegmatite occurrences recently reported Raiden Resources3

Priority pegmatite location

Priority pegmatite location

Pegmatite zone

 

NICKEL TARGETS

110km2 with all mineral rights (excluding Fe)

3 priority EM anomalies tested in the first drilling phase

Additional conductor targets identified and recommended for testing

– Other potential on tenement holding includes pegmatites and gold

FLEM stations over VTEM and Satellite Image

FLEM model plates over EM and Satellite image

Sources: 

1 ASX Announcement, Raiden resources Ltd 1 August 2023
2 ASX Announcement, Azure Minerals Ltd 11 Jan 2023
3 ASX Announcement, Raiden resources Ltd 10 October 2023

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