IronRidge Resources Ltd, an African focused minerals exploration company, has reported final high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa Lithium Project (ELP), where the company has defined a JORC compliant mineral resource estimate 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 in Ghana, West Africa.
- Highest metal content intersection (lithium grade multiplied by meters) reported to date in the resource expansion programme of 53 m at 1.34% Li2O from 80 m in hole GRC0392.
- Additional high-grade lithium pegmatite intersections reported in reverse circulation (RC) drilling results at the Ewoyaa North target adjacent to the ELP, including highlights at a 0.4% Li2O cut-off and maximum 4m of internal dilution of:
- GRC0392: 53 m at 1.34% Li2O from 80 m.
- GRC0393: 32 m at 1.34% Li2O from 87 m.
- GRC0393: 19 m at 1.17% Li2O from 56 m.
- GRC0392: 13 m at 0.93% Li2O from 25 m.
- GRC0391: 12 m at 0.93% Li2O from 84 m.
- GRC0390: 11 m at 1.01% Li2O from 66 m.
- Additional high-grade lithium pegmatite intersections reported in RC drilling results at the Grasscutter target adjacent to the ELP, including highlights at a 0.4% Li2O cut-off and maximum 4 m of internal dilution of:
- GRC0374: 28 m at 1.35% Li2O from 97 m.
- GRC0377: 19 m at 1.37% Li2O from 76 m.
- GRC0397: 15 m at 1.6% Li2O from 136 m.
- GRC0369: 12 m at 1.44% Li2O from 70 m.
- GRC0372: 11 m at 1.29% Li2O from 105 m.
- GRC0398: 11 m at 1.29% Li2O from 78 m.
- GRC0399: 11 m at 1.24% Li2O from 78 m.
- GRC0377: 6 m at 2.12% Li2O from 102 m.
- GRC0384: 13 m at 0.97% Li2O from 147 m.
- GRC0384: 8 m at 1.56% Li2O from 135 m.
- GRC0370: 9 m at 1.37% Li2O from 129 m.
- GRC0385: 10 m at 1.17% Li2O from 158 m.
- GRC0388: 10 m at 1.11% Li2O from 58 m.
- GRC0401: 7 m at 1.44% Li2O from 161 m.
- All assay results now reported for the resource expansion drilling programme with the remaining 5443 m of drilling reported herewith.
- 25 612 m resource expansion programme now completed with infill resource drilling and metallurgical diamond core drilling now underway 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.
Vincent Mascolo, Chief Executive Officer of IronRidge, said: “We have returned our best drill intersection to date with the highest metal content observed (lithium grade multiplied by meters) for the resource expansion programme at the Ewoyaa North target.
“The resource expansion drilling programme has now been completed and we will maintain momentum with five drill rigs currently active on site for the resource infill programme.
“The board remains 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 million t at 1.31% Li2O, within 110 km of an operating deep-sea port.
“Infill resource, metallurgical and hydro monitoring drilling is well underway in addition to metallurgical test-work in support of planned feasibilty studies.
“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 the Ewoyaa Project progresses.”
Read the article online at: https://www.globalminingreview.com/exploration-development/14092021/ironridge-resources-reports-final-ewoyaa-drill-results/