(Alliance News) - IronRidge Resources Ltd on Tuesday reported a maiden mineral resource estimate at its Ewoyaa lithium project in Ghana.
The new resource amounts to 14.5 million tonnes with a 1.31% lithium oxide grade, IronRidge said.
Oeprating Chief Len Kolff said: "We are proud to deliver our maiden mineral resource estimate for the Ewoyaa project.
"In summary, delivery of the 14.5 million tonnes at 1.31% lithium oxide mineral resource estimate is an important milestone in further de-risking a compelling project with favourable geology, mineralogy, location and exploration upside, in the pro-mining jurisdiction of Ghana."
Chief Executive Vincent Mascolo added: "We are pleased that we are in line and generally better than market assumptions in respect of tonnage, grade and recoveries."
Ironridge shares closed 4.6% lower at 12.165 pence each in London shortly before market close on Tuesday.
By Eric Cunha; ericcunha@alliancenews.com
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