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Metallurgical testwork at IronRidge’s Ewoyaa lithium project implies a low capital intensity start-up

Chief executive Vincent Mascolo says test-work has demonstrated that the project can deliver a premium product

The mineralisation at Ewoyaa looks favourable

IronRidge Resources Ltd (LON:IRR) shares got a boost on Tuesday as the firm released the results of metallurgical test-work from the Ewoyaa lithium project in Ghana, West Africa.

The results showed concentrate grades consistently above 6% lithium oxide, the current industry standard, and recoveries at up to 85%.

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Spodumene has now been confirmed as the dominant lithium mineral at Ewoyaa.

It now seems that the Ewoyaa deposit will be amenable to simple crushing and gravity beneficiation techniques to generate saleable concentrates. There could also be further recovery by flotation if warranted.

And that all implies a low capital intensity start-up.

"Initial metallurgical test-work results on representative core samples from across the strike extent of the Ewoyaa deposit have delivered exceptional results,” said chief executive Vincent Mascolo.

"Test-work has demonstrated that the project can deliver a premium product. We are pleased to have confirmed that spodumene is the dominant lithium mineral, which is the preferred hard-rock lithium feedstock for customers.”

In afternoon trading, shares in Ironridge Resources were 4.6% higher at 17.00p.

 -- Adds share price --


Quick facts: IronRidge Resources Ltd

Price: 13.25 GBX

Market: AIM
Market Cap: £41.38 m

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