Aim-listed IronRidge Resources’ share price shot up by 8.9% to 24.2p apiece as the company hit high-grade lithium mineralisation during drilling at its Ewoyaa project, in Ghana.
Intercepts included 128 m grading 1.21% lithium, 111 m grading 1.35% lithium and 65 m at 1.58% lithium, up to 3 m at 3.29% lithium.
This confirms Ewoyaa as a significant deposit and provides confidence for further exploration success within the portfolio, the company stated on Tuesday.
The initial assay results were received for 4 180 m of the total 8 090 m Phase 1 reverse circulation drilling programme completed at the north extension of the Ewoyaa project.
IronRidge chief geologist Len Kolff said results received to date indicate the development of a broad, continuous high-grade zone within the central and northern extension zones, which remains open to the north and potentially north-east, with additional drilling results pending.
“We will continue to advance the regional soil sampling programme and rapid analysis using its handheld LIBS lithium analyser, while reviewing new drilling results and start planning for resource and exploration drilling programmes.”