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IronRidge Resources unearths significant mineralisation at Ghana lithium projects

"The discovery of Ewoyaa West and Ewoyaa Middlings targets is extremely encouraging," said Vincent Mascolo.

Drilling is planned in the coming months

IronRidge Resources Ltd (LON:IRR) has reported ‘significant’ intersections of mineralisation at the Ewoyaa West target, part of its Cape Coast lithium assets in Ghana.

The mineralisation was encountered via the company’s trenching operations at Ewoyaa West.

In a statement, Ironridge highlighted that it has completed some 940 metres of new trenching and it has dug 1,640 pits across the project area. The work programmes are ongoing.

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It has so far seen continuous pegmatite mineralisation over an 840 metre strike length, and noted that the mineralisation is seen to be up to 100 metres wide at surface.

The explorer, via pitting, sees additional extensions of around 1.25 kilometres in strike to the south of Ewoyaa West – which is about 540 metres away from the main Ewoyaa project area.

Trenching work has also unearthed 65 metres of pegmatite mineralisation in the ‘Ewoyaa Middlings’ area, between the West target and the main project. Ironridge noted that trenching is ongoing and there’s potential to add significantly more pegmatite.

"The discovery of Ewoyaa West and Ewoyaa Middlings targets is extremely encouraging, and we look forward to the next phase of drilling,” said chief executive Vincent Mascolo.

"The decision to advance the Ewoyaa Project area ahead of a maiden resource estimate was predicated by the ongoing success with the discovery of new pegmatites in the immediate project area, exceptional metallurgical test work results and a robust treasury."

Drilling is planned to start during the third quarter, weather permitting, and preparation work is underway.

The plan is to drill some 13,200 metres and it will test new targets and strike extensions at the Ewoyaa and Abonko deposits.

Ironridge chief operating officer Len Kolff added: "Pegmatites often occur in clusters and pitting and trenching are proving to be a successful tool for defining additional pegmatites within the immediate Ewoyaa Project area through weathered cover where no outcropping pegmatite is visible.

"We have effectively increased the known outcropping pegmatite surface area by approximately 50% with the addition of the Ewoyaa West target and with trenching ongoing at the Ewoyaa Middlings target there is potential for further increases.”

"Given the projects significant mineralised intersections, positive metallurgical results, proximity to infrastructure and favourable jurisdiction, we are pleased to have awarded long lead environmental and social baseline studies for future mine permitting to Ghanaian consultants NEMAS Ltd which have now commenced."


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Price: 9.85 GBX

Market: AIM
Market Cap: £32.9 m

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