Ironridge Resources signs JV in 'exciting' lithium developments

The joint venture earn in arrangements at the Saltpond and Cape Coast projects are now unconditional in an agreement that provides Ironridge with further additions to its lithium portfolio, including new drill-ready targets.

Access rights have been secured to a granted exploration licence and application which covers a new 318km2 of Ghana.

Vincent Mascolo, chief executive of Ironridge Resources, said: "The addition of these strategic and highly prospective licences to our lithium portfolio dovetails nicely into our exciting and advancing lithium portfolio in Ghana, where we see enormous potential in the stored energy space and beyond."

The Saltpond exploration license is "highly prospective" and follows directly along strike from the Ewoyaa prospect where developments are ongoing for a maiden drill programme in the next few weeks.

"We are very pleased to have secured a joint venture arrangement with Joy Transporters who are a highly professional and experienced team with a proven track record in mining and stevedore logistics, which bodes well for the future development of our Cape Coast portfolio," said Mascolo.

Furthermore, the AIM listed company reports that conditions for operations are perfect in the area with simple transport links to the both the capital city of Accra and the sea port of Takoradi, a low mining history and a highly supportive government.

As of 0923 BST, Ironridge Resources' shares were down 4.21% at 22.75p.