Highlights

  • 12 896 m of mechanised auger drilling for 2446 holes completed on a 100 m x 10 – 20 m grid.
  • Seven high-priority pegmatite target zones defined with individual pegmatites up to 460 m long and 30 m apparent width.
  • All new targets occur within 500 m to 1.5 km of the current Ewoyaa lithium project resource footprint; within easy trucking distance for future mining.
  • Potential to add significant resource tonnes within the immediate project area.
  • 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.

Len Kolff, Chief Operating Officer of IronRidge, said: "An extensive auger drilling programme has been completed at the Ewoyaa Lithium Project, where we have defined Ghana's first lithium resource of 14.5 million t at 1.31% Li2O in the inferred and indicated category, within 110 km of an operating deep-sea port.

"Auger drilling has defined seven new high-priority pegmatite targets, including outcropping spodumene pegmatite within the immediate Ewoyaa resource area.

"The single largest of the new pegmatites defined within the ELP corridor is 460 m long and up to 30 m apparent width with outcropping spodumene observed and has the potential to add significant resource tonnes within the immediate project area.

"We look forward to keeping shareholders up to date as results become available."