IronRidge Resources - Exploration Update - Ghana Lithium Portfolio
Drilling and Exploration Update
Multiple New Pegmatite Zones Identified
Ø Reverse Circulation ('RC') drilling ongoing with over 8,000m drilled to date of a planned 13,200m third phase programme
Ø Multiple visual spodumene bearing pegmatite zones intersected in drilling at Ewoyaa North, Ewoyaa North-East and Abonko; assays pending
Ø New coarse spodumene bearing pegmatite discovered in outcrop and trenching at the Kaampakrom target 1km north of resource drilling at Ewoyaa, with over 250m strike and possible extensions to 500m; trenching underway and mineralisation open in both directions
Ø Drill access and prospecting drill pads completed at the Kaampakrom target; drilling imminent
Ø New pegmatite discovery at the Ndasiman target approximately 10km west of Ewoyaa; trenching defines 700m strike and up to 100m apparent width
Ø New pegmatite discovery at the Krofo target approximately 3km north-west of Ewoyaa; trenching defines 400m strike and up to 25m apparent width
Ø Wet season environmental and social baseline draft report received from Ghanaian consultancy NEMAS Consult; dry season baseline studies to commence
Ø Targeting Maiden Mineral Resource Estimate for Q1 2020
Ø Lithium hydroxide conversion test-work at ANSTO underway
References to figures related to this release visible in PDF format by clicking the link below:
Commenting on the Company's latest progress,
"Drilling is progressing well with approximately a third of the planned RC and diamond programme remaining. We are pleased to report that drilling has defined new pegmatite zones along the known Ewoyaa deposit footprint, with visual spodumene in RC drill chips and assays pending.
"Ongoing exploration activities; running concurrently with the drill programme and bolstered by an additional dedicated geologist has delivered multiple new pegmatite discoveries at Kaampakrom, Ndasiman and Krofo.
"Target areas prioritised on the basis of the regional soils programme including in-house Laser-Induced Breakdown Spectroscopy ('LIBS') and portable X-Ray Florescence ('pXRF') analysis complemented by the regional airborne magnetics survey and reconnaissance field mapping are delivering new pegmatite discoveries; vindicating the methodology and highlighting multiple new target areas.
"The Kaampakrom discovery is especially encouraging given the coarse visible spodumene in outcrop and trenching, and close proximity to the current drilling underway at Ewoyaa 1km away.
"The scale of the Ndasiman pegmatite discovery is promising, with pegmatite exposed in trenching over 700m strike and up to 100m apparent widths, with assays pending to confirm whether it is lithium bearing.
"The Krofo discovery which is within 3km from the Ewoyaa deposit footprint is encouraging and provides further prospectivity within the
Drilling and Exploration Update:
The Company commenced the third phase drill programme with Geodrill in early
Ongoing exploration activities, which run concurrently with the drilling programme, have delivered multiple new pegmatite discoveries within the
The Kaampakrom pegmatite has been mapped in outcrop, float material and in trenching over 250m strike with potential extension to 500m strike which remains open in both directions with trenching ongoing. Coarse spodumene is visible in outcrop and trenching within the 250m striking zone (refer Figure 2 and Figure 3).
The Kaampakrom pegmatite occurs 1km north of current resource drilling at Ewoyaa. The Company has constructed drill access and drill pads from Ewoyaa at to test the target as part of this drill campaign. Exploration mapping, trenching and pitting remains ongoing within this area and along a high-priority, duricrust capped north-south ridge between the Kaampakrom and Ewoyaa pegmatites (refer Figure 2).
The Krofo pegmatite occurs approximately 3km north-west of the Ewoyaa deposit and within the Abonko target corridor. Pitting and trenching has defined approximately 400m strike with up to 25m apparent width of pegmatite (refer Figure 3).
No visible spodumene has been recorded at Krofo, however amblygonite, a high-grade lithium fluorophosphate mineral has been identified in outcrop. This is considered geologically significant as it potentially indicates an evolved and zoned lithium pegmatite field.
The Company has discovered new pegmatites in trenching over a 700m strike with apparent widths up to 100m in trenching at the Ndasiman prospect, approximately 10km west of Ewoyaa and within the adjacent Saltpond exploration license. No visible spodumene has been observed in trenching, however the pegmatites are strongly weathered. Channel sampling has been completed along the trenches with assays pending (refer Figure 1).
The Company has received a draft copy report of the wet season environmental and social baseline studies completed by Ghanaian consultancy NEMAS Consult. Planning is now underway for the dry season baseline.
Lithium hydroxide conversion test-work is ongoing at
The Company is targeting a Maiden Resource Estimate ('MRE') for Q1 2020 on completion of the drill programme and receipt of results. The Company will continue to advance long lead project studies including baseline environmental and social studies, and metallurgical test-work as fundamental inputs into future studies. The Company will continue to advance the exploration pipeline with mapping, pitting and trenching ahead of reconnaissance drilling.
The Ewoyaa deposit is well located within 1km of a bitumen highway and adjacent to grid power, within 100km of an operating deep-sea port and within the pro-mining, stable jurisdiction of
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For any further information please contact:
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Tel: +61 7 3303 0610
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Tel: +44 (0)20 3470 0470
Nominated Adviser and Broker
Tel: +44 (0)20 3004 9512
Competent Person Statement:
Information in this report relating to the exploration results is based on data reviewed by Mr
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