Why Did Raiden Acquire 100% of the Lithium Rights at the Arrow Project?
Raiden Resources, an Australian mining company, has recently made a significant acquisition. They have exercised their option to purchase 100% of the Li-Cs-Ta ("LCT") rights over the Arrow Project, which spans an area of 223km² in the Pilbara region.
Securing All Mineral Rights
By exercising this option, Raiden now has exclusive rights to all minerals found within the Arrow Project. In addition to paying Arrow Minerals $250,000 in cash, Raiden will issue ordinary shares with a value of $250,000 as part of the agreement. This acquisition expands Raiden's lithium portfolio and presents promising opportunities for LCT mineralization exploration.
Confirmation of Lithium Mineralization
During a successful reconnaissance campaign on the Arrow Project, Raiden discovered outcropping pegmatites and visually confirmed the presence of Spodumene mineralization. This visual confirmation indicates the presence of lithium minerals.
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Further analysis through reprocessing soil samples is underway and is expected to provide valuable insights for identifying potential areas of interest within the project.
Expanding the Lithium Portfolio
Raiden's Managing Director, Mr. Dusko Ljubojevic, stated that based on the positive results from the reconnaissance campaign, the decision was made to exercise the option and acquire 100% of the LCT rights over the Arrow Project. This strategic move positions Raiden to capitalize on the potential for pegmatite hosted mineralization throughout the entire project area.
In conclusion, Raiden Resources' acquisition of 100% of the lithium rights at the Arrow Project showcases their commitment to expanding their lithium portfolio. With confirmed visual evidence of lithium mineralization and ongoing soil sample reprocessing, Raiden is well-positioned to explore the full potential of LCT mineralization within the project area.
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