20th Nov 2018 13:25
LONDON (Alliance News) - IronRidge Resources Ltd on Tuesday said the latest results of first-phase drilling at its Ewoyaa project in Ghana have returned high-grade lithium intersections.
Mineral exploration company IronRidge said it has received results from the final 13 drill holes out of the 58 total holes drilled during the reverse circulation drilling programme.
These results enhance the 45 previously reported holes and found multiple broad, high-grade lithium drill intersections.
At hole GRC0034 56 metres at 1.7% lithium oxide was identified, including 16 metres at 1.8% lithium oxide from 68 metres.
In addition, at hole GRC0035, drilling found 67 metres at 1.3% lithium oxide from 37 metres, including 33 metres at 1.4% lithium oxide from 37 metres and 22 metres at 1.7% lithium oxide from 81 metres.
Mineralisation, IronRidge said, remains open to the north and north-east, and there is a pitting programme underway at Ewoyaa to test for extensions.
"High-grade lithium intersections over significant intervals and in close proximity to essential infrastructure, coupled with the pro-mining and stable jurisdiction of Ghana, bodes well for the future development of the company's Cape Coast lithium portfolio," said IronRidge Chief Operating Officer Len Kolff.
"The Ewoyaa project represents the most advanced exploration project in the Ghana portfolio, and we look forward to updating the market once we enter the next phase of our programme," Kolff added.
Shares in IronRidge were up 4.7% at 22.10 pence on Tuesday.
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