Africa-focused miner develops Ghana lithium project

Photo: IronRidge

African-focused minerals exploration company Iron-Ridge Resources has reported additional high-grade lithium pegmatite drill intersections which include multiple drill intersections over 2% lithium oxide, at new targets adjacent to the Ewoyaa lithium project in Ghana.


Commenting on the firm’s latest progress in West Africa, Vincent Mas-colo, the chief executive of IronRidge, said in a statement that, eyeing “a plus 10-year mine life, it is estimated that every additional year of produc-tion will add” about US$40 million in net present value (NPV) per year “on a scoping study that has defined a Post-tax NPV of US$345 million over an 8-year life of mine.”


“The Company is well positioned to take advantage of the increasing de-mand for lithium and its role in the stored energy transition; we look for-ward to keeping shareholders up to date as results become available,” according to the CEO.