IRR.L Share News (IRR)

(Sharecast News) - Africa-focussed minerals exploration company IronRidge Resources has received final assay results from its third phase drilling programme campaign at the Ewoyaa Lithium Project, it announced on Thursday.
The AIM-traded firm said the results, obtained through a diamond drilling programme, returned high-grade intersections, with the most significant drill intersection reported to date at the Ewoyaa Project within the Cape Coast Lithium Portfolio in Ghana.

It said a total of 350 metres of diamond drilling was completed in two drill holes, as part of the third phase programme.

The high-grade drill intersections reported from the diamond drilling at Ewoyaa included GDD0010, with 76 metres at 1.81% lithium oxide from 43 metres; and GDD0010, with 33.5 metres at 1.3% lithium oxide from 124 metres.

They also included GDD0011, with 69.74 metres at 1.45% lithium oxide from 15.86 metres; and GDD0011, with 31.4 metres at 1.78% lithium oxide from 92.6 metres.

It also reported the highest lithium grade and length of mineralised interval, or 'metal endowment', reported to date in a single drill hole at the Ewoyaa Project, being the 76 metres and 33.5 metres in hole GDD0010.

Visual observations re-confirmed coarse spodumene as the dominant lithium mineral phase, in line with previously-reported metallurgical test-work results, where greater than 6% lithium oxide concentrates at up to 85% recovery could be generated using dense media gravity separation at a coarse 6.3 millimetre crush.

IronRidge said it was targeting a JORC-compliant maiden mineral resource estimate for the first quarter of 2020.

"The latest diamond drilling results from the third phase drilling programme have delivered robust drill intersections and are our highest lithium oxide grade by length of mineralised interval reported to date in a single drill hole at the Ewoyaa Project," said chief operating officer Len Kolff.

"Visual observations from both diamond drill holes reconfirms that coarse grained spodumene is the dominant lithium phase at the Ewoyaa Project; in-line with previously reported metallurgical results where greater than 6% lithium oxide concentrates with low contaminants and up to 85% recoveries can be generated at a coarse 6.3 millimetres crush and using dense media gravity separation."

Koiff said that additionally, infill hole GDD0010 had confirmed continuity of mineralisation and grade within the central zone of the Ewoyaa Main deposit, where the majority of the indicated category resource would be estimated.

"We are now working towards delivering the maiden mineral resource estimate in the first quarter of 2020.

"In the meantime, field teams continue to develop and advance the project portfolio with ongoing regional exploration programmes, baseline monitoring and drill site revegetation works."

At 1154 GMT, shares in IronRidge Resources were up 0.56% at 8.95p.