AIM-listed mineral exploration company IronRidge Resources kicked off its earthworks programme at the Ewoyaa lithium project in Ghana after receiving the necessary approvals from local regulators.
IronRidge's earthworks, aimed at allowing access for its drill and for drill, entails roughly 7,000 metres of reverse circulation and diamond drilling project that could amount to up to 60 holes over two phases, with drilling expected to commence from late April or early May.
Vincent Mascolo, chief executive of IronRidge, said, “We have worked closely with our partners to secure the necessary approvals to allow us to commence earthworks and drilling; the next crucial step in confirming Ewoyaa as a significant lithium discovery.”
“Additionally, we have diligently used the intervening time to advance the portfolio; establishing a local office, community consultations and detailed orientation surveys over known deposit footprints to provide a cost-effective blueprint for future exploration success and discovery over our portfolios in Ghana and Ivory Coast,” he added.
IronRidge's entire lithium project is based on a reinterpretation of the Ewoyaa pegmatite geology using information discovered from 32 trenches and 428 pits which allowed for the creation of a detailed, high-confidence surface geology map, as well as the identification of three well-defined pegmatite zones with a combined 1,600 metre-long strike.
Elsewhere, IronRidge's Forest Entry permit was successfully renewed, as was its exploration license application previously submitted for the Egyasimanku Hill project, with field teams on site and commencing their mapping programme.
“We have renewed the Forest Entry permit and submitted a license application over Egyasimanku Hill, whilst recovered historical Geological Survey maps, coupled with the helicopter geophysical survey, have highlighted additional exploration upside,” Mascolo concluded.
As of 0850 BST, shares had gained 2.95% to 23.42p.