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.
Atlantic Lithium Limited NPV (DI)
11.12p
16:40 18/11/24
Industrial Metals & Mining
6,051.15
17:09 18/11/24
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.