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Hfox1

110 Posts.

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10/11/17

10:09

Post #: 28673166
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Great post Toro,
I've wondered why there wasn't IRR posts on here. Great news around the Ghana Lithium today and new additional areas targeted. IronRidge is certainly compelling with the 43 assets. Chad Gold and Lithium in the 11 licences with huge acreage is very exciting.

Originally posted by RubioToro ↑

Not really kept up on here because it's mostly SOLG (for obvious reasons) so apologies if I cover any old ground.

I do see the SOLG story as a blueprint for other DGR companies (as NM stated recently) but there's one major difference with the funding scenarios between SOLG and IronRidge - multiple resources - IronRidge has 43 licences overall and is currently developing a few in parallel. This will give them opportunity to sell some to pay for development of others, a kind of self-sustaining business.

Initially, IRR need cash from the backers to get into a JORC / PEA / PFS position but once they have a few of these in place, the investment doors are open.

Today's lithium announcement from IronRidge is not just confined to the one licence (although on first reading, that's what the take-away is). Two significant new / highlighted pieces of information:
1. There are multiple targets in each licence. So 11 lithium licences but ~30+ targets. Each target could unveil a decent sized pegmatite.
2. The radiometrics survey was shown over the Ghana licence areas. Within the Ewoyaa target area, a tiny red dot can be seen which is actually a 1.5km long lithium pegmatite. However, the radiometrics for the more Eastern licences show much more intense colouration, possibly indicating much larger pegmatites. Time will tell.

On top of this, I have already measured over 4.5km of mapped lithium pegmatites around the Egyasimanku Hill area. 4.5km is significant.

All this leads me to believe that, within the Ghanaian licences, IronRidge have discovered one of the World's largest hard rock lithium basins. It will take some drilling to see what's under the surface but initial sampling is very exciting.

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DGR Price at posting: 9.9¢ Sentiment: Buy Disclosure: Not Held
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IronRidge Resources (DGR 26%), page-2

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