IronRidge Resources commences drilling at Eqoyaa Lithium Project

Highlights

• Drilling contractor GeoDrill Ltd mobilised to site and drilling commenced.
• First reverse circulation (RC) drill hole (GRC0199) intersects visible spodumene on a new pegmatite target within 500 m of the current resource.
• 12 500 m RC drilling programme designed to add resource tonnes within the immediate Ewoyaa resource area.
• Approximately 10 000 m of RC drilling designed to test seven new high-priority pegmatite targets, including outcropping spodumene pegmatite within the immediate Ewoyaa Lithium Project area to add potential resource tonnes.
• Approximately 2500 m of exploration RC drilling planned to test an additional three exploration targets; Ndasiman, Amoanda and Hweda within the Saltpond and Apam West licenses.
• 6 km of new access roads and 85 drill pads prepared within the Ewoyaa 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.

Vincent Mascolo, CEO of IronRidge, said: "We are delighted to report that drilling has commenced at the Ewoyaa Lithium Project, where we have defined Ghana's first lithium JORC compliant 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.

"Our first RC drill hole of the season has intersected 13 m of visible spodumene mineralisation on a new pegmatite target within 500 m of the current resource and from a depth of 34 m down hole.

"The approximate 12 500 m RC programme is designed to rapidly test seven new high-priority pegmatite targets within the immediate Ewoyaa resource area uncovered by the recently completed auger drilling programme, as well as test three exploration targets within the Saltpond and Apam West licenses.

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

"Over 6 km of drill access and 85 drill pads have already been cleared and ready for drilling.

"Additionally, we will drill test the Ndasiman, Amoanda and Hweda exploration targets with approximately 2500 m of RC drilling, respectively 9 km, 8 km and 27 km as the crow flies from Ewoyaa. The exploration targets occur within the adjoining exploration licenses and form part of our ongoing pipeline of project development within the highly prospective 684 km² lithium portfolio.

"Despite the challenges faced in the past year, IronRidge has made significant progress in driving its lithium assets and the Ewoyaa Lithium Project forward.

"The company is well positioned to take advantage of the increasing demand for lithium and its role in the future of stored energy transition.

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

Read the article online at: https://www.globalminingreview.com/exploration-development/14012021/ironridge-resources-commences-drilling-at-eqoyaa-lithium-project/