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IronRidge poised to meet increasing lithium demand

IronRidge Resources, the African focussed minerals exploration company, is pleased to report additional broad and high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa Lithium Project, where the Company has defined a JORC compliant mineral resource estimate of 14.5 Mt at 1.31% Li2O in the inferred and indicated category, including 4.5 Mt at 1.39% Li2O in the indicated category in Ghana, West Africa.  


Commenting on the Company’s latest progress, Vincent Mascolo, CEO of IronRidge, says:

“We are highly encouraged with the ongoing results received, which continue to confirm additional high grades in new exploration targets tested within the ELP area.

“The Board is delighted to have defined a new mineralised structure at the Ewoyaa North target, where broad pegmatite intersections, including 50 m at 1.36% Li2O, have been reported, which remains open along strike and is within 210 m of the currently defined resource footprint.

“We are confident the additional exploration targets will increase resource scale and improve project economics, where we have defined Ghana’s first lithium JORC compliant resource of 14.5 Mt at 1.31% Li2O, within 110 km of an operating deep-sea port. This drilling programme is a key part of our work towards expanding the resource base on what we consider to be an industry-leading asset; we are now evaluating options to fast track the project to production.

“Earthworks are underway for the infill drill programme as well as planning for metallurgical test-work, mining and engineering studies in support of the Pre-Feasibilty Study.

“The Company is ideally positioned to take advantage of the increasing demand for lithium due to its role in the stored energy transition and looks forward to keeping shareholders up to date as further results become available.”

Ongoing Drilling Results

Additional drilling results for 3,081m in 22 holes have been received for the ongoing drill programme. Multiple high-grade drill intersections have been returned at a 0.4% Li2O cut-off and maximum 4m of internal dilution.

All sampling was completed at 1m sampling intervals at the drill site and submitted for analysis at Intertek laboratory with sample preparation completed in Ghana and sample analysis in Perth, Western Australia. All results passed internal and laboratory QA/QC protocols, providing confidence in the reported results.

The drilling programme is designed to test multiple new spodumene-bearing pegmatites identified through the Company’s recent and ongoing auger drill programme; to add resource tonnes within the immediate ELP area. The programme will also advance the regional exploration pipeline by drill testing the Ndasiman, Amoanda and Hweda targets within the Saltpond and Apam West licenses respectively.

The original planned 12,500 m RC drilling programme was increased to 16,500m to test strike extensions of recently drilled pegmatites where mineralisation remains open and to test new targets with drilling ongoing.