New High-Grade Lithium Hits In Ghana
IronRidge Resources Ltd (AIM: IRR) has obtained additional broad and high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa Lithium Project (ELP) in Ghana, West Africa.
The company has a currently defined a JORC compliant mineral resource estimate at Ewoyaa of 14.5 million t at 1.31% lithium oxide (Li2O) in the inferred and indicated category, including 4.5 million t at 1.39% Li2O in the indicated category.
- New high-grade lithium pegmatite intersections reported in initial reverse circulation (RC) drilling results at the Grasscutter target adjacent to the ELP, including highlights at a 0.4% Li2O cut-off and maximum 4m of internal dilution of:
- GRC0368: 49 m at 1.21% Li2O from 122 m.
- GRC0362: 29 m at 1.49% Li2O from 71 m.
- GRC0364: 26 m at 1.57% Li2O from 126 m.
- GRC0365: 23 m at 1.55% Li2O from 73 m.
- GRC0363: 23 m at 1.41% Li2O from 62 m.
- GRC0366: 21 m at 1.36% Li2O from 150 m.
- GRC0367: 18 m at 1.5% Li2O from 53 m.
- GRC0359: 21 m at 0.92% Li2O from 68 m.
- GRC0361: 12 m at 1.44% Li2O from 47 m.
- Additional high-grade lithium pegmatite intersections reported in ongoing reverse circulation (RC) drilling results at the Ewoyaa North and Anokyi Main targets adjacent to the ELP, including highlights at a 0.4% Li2O cut-off and maximum 4 m of internal dilution of:
- GRC0351: 30 m at 1.53% Li2O from 109 m.
- GRC0348: 30 m at 1.3% Li2O from 81 m.
- GRC0356: 14 m at 1.1% Li2O from 83 m.
- GRC0349: 14 m at 0.88% Li2O from 77 m.
- GRC0334: 7 m at 1.47% Li2O from 72 m.
- GRC0350: 6 m at 1.63% Li2O from 123 m.
- RC resource extension drilling now completed for a total 25 612 m in 205 holes; assay results reported herewith for an additional 6921 m of the current programme.
- Infill resource drilling, metallurgical diamond core drilling and planning for hydro monitoring drilling, mining and engineering studies now commenced with five drill rigs on site.
- Ideal infrastructure support: projects located within 110 km of the operating Takoradi deep-sea port, within 100 km of the capital Accra and adjacent to the sealed Takoradi-Accra highway and high-power transmission lines.
- Highly supportive government; long mining history, strong diversification drive and pro-renewable and stored energy space initiatives.
- Increasing lithium demand due to its role in the stored energy transition.
“We are highly encouraged by the ongoing results received from new targets adjacent to Ewoyaa, which continue to confirm high grades in new exploration targets tested within the ELP area,” CEO, Vincent Mascolo, said.
“We have defined a new mineralised structure at the Grasscutter target, where broad pegmatite intersections, including 49 m at 1.21% Li2O, have been reported within 620 m of the resource footprint. The board is confident the additional exploration targets will increase resource scale and improve project economics, where we have defined Ghana’s first lithium re-source of 14.5 million t at 1.31% Li2O, within 110 km of an operating deep-sea port.
“We remain energised to be advancing the project with our new partner Piedmont Lithium, with infill resource, metallurgical and hydrogeological drilling underway, and five drill rigs currently on site. The company reaffirms that it is ideally positioned to take advantage of the increasing global demand for lithium.”
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