JOHANNESBURG (miningweekly.com) – Aim-listed IronRidge Resources has further expanded its lithium interests in Ghana, with the acquisition of a highly prospective pegmatite tenure adjacent to its Ewoyaa prospect.
The company entered conditional and binding terms with wholly owned Ghanaian company Joy Transporters, providing IronRidge with exclusive rights to the granted Saltpond exploration licence and Cape Coast lithium project.
“Joy Transporters comprises a highly professional and experienced team with a proven record in mining and logistics, which bodes well for the future development of our Cape Coast portfolio,” CEO Vincent Mascolo said in a statement.
Following the acquisition, IronRidge’s land package now covers 645 m2, including Ewoyaa and Abonku and the rediscovered historic Egyasimanku Hill lithium deposit.
The overall geology is simple, spodumene dominant mineralogy with minor accessory lithium phases and very low contaminant.
"Enhancing and consolidating the company's ground position along the Cape Coast lithium project corridor is an integral step in the company's strategy of building a lithium project pipeline in Ghana,” Mascolo said.
He added that, additionally, comprehensive preliminary mineralogical studies at the Ewoyaa prospect have confirmed spodumene as the dominant lithium phase, providing confidence for a simple process flowsheet.
The company has also submitted an exploration licence application through its wholly owned Ghanaian subsidiary, Green Metals Resources, along the interpreted southern extension of the Ewoyaa prospect.
IronRidge is continuing with definition pitting at the Ewoyaa and Abonku prospects ahead of the maiden drilling programme, which is planned for the first quarter of this year.