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IronRidge says resource update expected in first quarter of 2020 as drilling extends lithium footprint in Ghana

A new discovery has now been confirmed at Kaampakrom

IronRidge Resources Ltd -
Lithium is in high demand for use in the next generation of batteries

IronRidge Resources Ltd (LON:IRR) has returned multiple high-grade reverse circulation (RC) drilling intersections from the latest drilling programme at the Ewoyaa, Abonko and Kaampakrom projects in Ghana, West Africa.

A total of 12,669 metres of RC drilling was completed in 97 drill holes for the third phase programme.

Among the highlights from Ewoyaa and Abonko were 40 metres (m) grading 1.45% lithium oxide, 34m grading 1.43% Li2O, and 31m at 1.5% Li2O.

The results at Ewoyaa and Abonko have extended known mineralisation along strike and at depth, with mineralisation still open in most directions.

Meanwhile, a new discovery has been confirmed at Kaampakrom, a kilometres north of Ewoyaa with high-grade drill intersections including seven metres at 1.82% Li2O, and six metres at 1.64% Li2O.

The company is planning to complete a resource estimate in the first quarter of next year.

"We are delighted with the third phase drilling results, which will be incorporated into the MRE and have significantly enhanced the Ewoyaa North-East target as well as extended the Ewoyaa Main and Abonko targets,” said Len Kolff, chief operating officer of IronRidge.

"We returned our highest grade one metre drill interval to date at 4.47% Li2O in hole GRC0164 within the Ewoyaa North-East target; this represents a near-solid one metre interval of spodumene,” he added.

Quick facts: IronRidge Resources Ltd

Price: 12.715 GBX

Market: AIM
Market Cap: £42.49 m

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