LONDON (Alliance News) - IronRidge Resources Ltd on Thursday said the first phase of its Ewoyaa Project drill campaign is now complete and has revealed pegmatite extensions but test results have been delayed.
Pegmatite is the primary source of lithium, which is used in batteries and as a medication. The mining company has now completed 8,000 metres of drilling at its Ghanaian project and has found a 400 metre long pegmatite extension to the north of its central mining zone. 1,000 metres of additional drilling have already been completed to test the extension.
Results from the first batch of drilling conducted at Ewoyaa have been delayed but are expected soon.
"Whilst the company was expecting assay results from the first 9 holes drilled by July we are experiencing assay delays on our first batch of drilling results, but hope to update the market shortly," said IronRidge Chief Geologist Len Kolff.
IronRidge has also hired Iwan Williams as exploration manager for its Ghana project, citing his "extensive African and studies experience" in addition to previous experience with pegmatite.
IronRidge shares were down 5.3% at 22.02 pence Thursday afternoon in London.
