We’ve been following IronRidge Resources for a while now, whilst their diverse portfolio of projects across gold, lithium, bauxite and iron ore provide a degree of mitigation of risk which we find reassuring, it’s their hard-rock lithium projects in Ghana which have really caught our attention.
Today (21st May) they announced very positive metallurgical results from their Ewoyaa lithium project, which forms one of the multiple pegmatite targets within their Cape Coast lithium project in Ghana.
Key highlights include:
- Concentrate grades consistently above 6% lithium oxide, the current industry standard, and recovery of up to 85%.
- Spodumene was confirmed as the dominant lithium mineral – the preferred hard-rock lithium feedstock to customers
- Low contamination is reported – less than 1% iron oxide
In terms of the cost of the project, the high quality and low impurity of the deposits indicates the Ewoyaa deposit is amenable to simple crushing and gravity beneficiation to generate saleable concentrates, in addition to further recovery by flotation if warranted. This implies a low capital intensity start-up as the preferred option.
Commenting on the results, Vincent Mascolo, CEO and MD of IronRidge said:
“Initial metallurgical test-work results on representative core samples from across the strike extent of the Ewoyaa deposit have delivered exceptional results. Test-work has demonstrated that the project can deliver a premium product; >6% Li2O concentrates with low level contaminants using simple gravity beneficiation on a coarse 6.3mm crush.”
“Further sighter flotation test-work at 106µm grind on fine pegmatite achieved exceptional recoveries up to 95.4% with concentrate grades between 4.2% to 6% Li2O, which is a a great initial result and demonstrates further optionality for a processing plant.”
“This suggests a simple flowsheet design with low capital intensity start-up, which can be further enhanced with a flotation cell to recover additional lithium credits at a later stage.”
IronRidge Resource’s share price (AIM:IRR) was up 6.15% on Tuesday to 17.25p , up from 15.5p at the start of January.
About IronRidge Resources
IronRidge Resources is an AIM listed minerals exploration company with a diversified portfolio of gold, lithium, bauxite, titanium and iron ore in frontier regions of Africa and Australia. IronRidge has a significant province scale gold portfolio in Chad, Central Africa and multiple province scale gold and lithium projects in Ivory Coast and Ghana, West Africa through joint venture and direct application, wholly owned advanced bauxite and titanium projects in Queensland, Australia and two wholly owned province scale iron ore projects in Gabon, West Africa.
IronRidge’s corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.
IronRidge’s Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment and finance. The Board and Management team have significant vested interests in the Company.
Find out more at https://www.ironridgeresources.com.au
