IronRidge Resources buys Ivory Coast lithium pegmatite sites

AIM-listed explorer IronRidge Resources has bought three highly prospective lithium pegmatite applications in the Ivory Coast, which consolidates its West African portfolio.

The company bought, through its subsidiary, access rights to three applications covering a total of 938km squared for lithium and other minerals.

The portfolio, in addition to the existing Ench Proci joint venture area, covers highly prospective fractionated centres with a history of lithium and columbite-tantalum discoveries.

The license and applications are part of a West African lithium strategy, by the company, which also has hard rock lithium pegmatite projects in Ghana for a total 1,652km squared landholding over a prospective and proven pegmatite terrains.

The applications are located within 75km of the capital Abidjan and has infrastructure, logistics and support services support for a potential rapid development.

Chief executive Vincent Mascolo said: "We see enormous potential in supplying the growing energy industry with lithium, and securing the Ivory Coast lithium package directly complements our recent lithium acquisitions in West Africa.

"The assets present a strategic opportunity that consolidates and covers resource scale potential, potential simple mineralogy and proximity to infrastructure in a mining-friendly jurisdiction.”

Shares in IronRidge Resources were down 0.79% to 15.75p at 1121 GMT.