IronRidge Resources Limited (AIM: IRR), the African focussed minerals exploration company, has announced its wholly owned Ghanaian entity Green Metals Resources Limited has been granted the Mankessim South exploration license in Ghana. The license provides IronRidge with full ownership of a contiguous prospective lithium exploration license adjacent to the Company’s Ewoyaa Lithium Project (JORC Compliant maiden Mineral Resource Estimate of 14.5Mt at 1.31% Li2O).
Highlights
- Mankessim South mineral exploration license PL3/109, covering 13.02km2, granted to the Company’s wholly owned Ghanaian entity Green Metals Resources Limited.
- The license lies directly south of the Mankessim license which hosts the Company’s Ewoyaa Lithium Project, with a mineral resource estimate of 14.5Mt at 1.31% Li2O in the Inferred and Indicated category, including 4.5Mt at 1.39% Li2O in the Indicated category (JORC compliant).
- Spodumene‐bearing pegmatite targets, including extensions of the known mineral resource and the Saltpond By‐Pass pegmatite, have been identified for immediate follow‐up.
- Field teams re‐mobilised to 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.
- Long‐lead baseline environmental and social studies and monitoring activities are ongoing.
- Additional optimisation metallurgical test‐work is ongoing at the Nagrom laboratory in Perth, WA.
- Ideal infrastructure support; license located within 110km of the operating Takoradi deep‐sea port, within 100km of the capital Accra and adjacent to the sealed bitumen Takoradi – Accra highway and high‐power transmission line.
- Highly supportive government with an extensive mining history, strong diversification drive and ongoing pro‐renewable and stored energy space initiatives.
Commenting on the Company’s latest progress, Vincent Mascolo, Chief Executive Officer of IronRidge, said: “We are delighted to have been granted the Mankessim South exploration license, which further consolidates and enhances our Cape Coast Lithium portfolio and strategy. “The newly‐granted license represents highly prospective ground within the immediate lithium pegmatite resource corridor and is an extension of tenure directly adjacent to, and along strike from, the Ewoyaa Lithium Project which hosts a JORC compliant resources of 14.5Mt at 1.31% Li2O, including 4.5Mt at 1.39% Li2O in the Indicated category.
“Additional spodumene‐bearing pegmatites have been observed at the Saltpond By‐Pass pegmatite within the newly‐granted license, and 960m from the southern margin of the current resource footprint, boding well for potential future resource upgrades. “Field teams have been mobilised to site and are preparing to re‐commence low‐cost, value‐adding exploration, focussing on defining surface pegmatite mineralisation through weathered and transported cover using grid auger drilling.”
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