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IronRidge Resources defines new targets at Ewoyaa Lithium Project

Seven new resource targets have been identified within trucking distance of the main Ewoyaa project

IronRidge Resources Ltd - IronRidge Resources defines new targets at Ewoyaa Lithium Project

IronRidge Resources Limited (LON:IRR) told investors it has defined multiple new pegmatite targets in auger drilling results from the Ewoyaa Lithium Project (ELP), in Ghana.

The company said that seven high-priority pegmatite target zones have been defined. Individual pegmatites are seen with up to 460 metres length and 30 metres of apparent width.

All the targets occur within 500 metres to 1.5 kilometres of the current Ewoyaa lithium project resource footprint – the project’s current JORC amounts to 14.5mln tonnes at 1.31% lithium (Li2O).

IronRidge highlighted that the targets would be within easy trucking distance for future mining and would potentially add significant resource tonnes.

The whole project, meanwhile, is positioned with what the company describes as ideal infrastructure support. It is located within 110 kilometres of the Takoradi deep-sea port and is 100 kilometres from the capital city, Accra.

"We look forward to keeping shareholders up to date as results become available," said Len Kolff, IronRidge chief operating officer in a statement.

Quick facts: IronRidge Resources Ltd

Price: 20.5 GBX

Market: AIM
Market Cap: £92.68 m

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on 1/2/21

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