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IronRidge expands lithium footprint in Ghana with acquisition of new exploration licence

Field teams are now being readied in anticipation of an active exploration season

IronRidge Resources Ltd -

IronRidge Resources Ltd (LON:IRR) has been granted a new exploration licence in Ghana at Mankessim South.

The licence provides IronRidge with full ownership of a contiguous prospective lithium exploration licence adjacent to its Ewoyaa lithium project, which already boasts a 14.5mln tonne resource.

Field teams have been re-mobilised to the site to commence low-cost regional exploration programmes, including grid auger drilling, mapping and sampling within the newly-granted license and surrounding resource footprint area.

"We are delighted to have been granted the Mankessim South exploration licence, which further consolidates and enhances our Cape Coast Lithium portfolio and strategy,” said IronRidge chief executive Vincent Mascolo.

"Additional spodumene-bearing pegmatites have been observed at the Saltpond By-Pass pegmatite within the newly-granted license, and 960 metres from the southern margin of the current resource footprint, boding well for potential future resource upgrades.”

Low-cost regional exploration programmes including reconnaissance mapping, sampling and grid auger drilling are planned to commence in early July across the company’s projects, once rains start to subside. Auger drilling will focus within the immediate resource area and strike extensions into the Mankessim South license to define surface extents of pegmatites under weathered and transported cover ahead of future drilling.

Long-lead environmental and social baseline studies and monitoring is ongoing, with dry season surveys underway to feed into future scoping study design.

Quick facts: IronRidge Resources Ltd

Price: 15.19 GBX

AIM:IRR
Market: AIM
Market Cap: £62.27 m
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