25th Nov 2019 12:10
(Alliance News) - IronRidge Resources Ltd on Monday announced a new discovery at Kaampakrom, part of its lithium portfolio in Ghana.
"Multiple" broad and high-grade drilling results have been received from a 12,669 metre drilling programme in Ghana at the Ewoyaa, Abonko, and Kaampakrom projects.
At Ewoyaa and Abonko, grades include 40 metres at 1.45% lithium oxide, 34 metres at 1.43% lithium oxide, 31 metres at 1.5% lithium oxide, 28 metres at 1.49% lithium oxide, and 19 metres at 1.82% lithium oxide.
This, Brisbane-based IronRidge said, extends known mineralisation at the two sites.
At Kaampakrom, a new discovery has been made, one kilometre to the north of Ewoyaa. Results from Kaampakrom include seven metres at 1.82% lithium oxide and six metres at 1.64% lithium oxide.
IronRidge is currently looking at publishing a maiden mineral resource estimate for the assets in the first quarter of 2020.
Chief Operating Officer Len Kolff said: "We are delighted with the third phase drilling results, which will be incorporated into the mineral resource estimate and have significantly enhanced the Ewoyaa North-East target as well as extended the Ewoyaa Main and Abonko targets.
"First pass high-grade results returned for Kaampakrom confirm the new discovery one kilometre north of Ewoyaa, and significantly the potential for additional spodumene pegmatite discoveries within the tenement portfolio."
Shares were 4.5% higher on Monday in London at midday at a price of 10.19 pence each.
By George Collard; [email protected]
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