IronRidge Resources has announced that the joint venture earn-in arrangements with Enchi Proci SARL for the Adzope licence application was now unconditional.
IronRidge also said that two of its wholly owned applications had now been registered on the cadastral map
IronRidge said this provided it with exclusive rights to a prospective lithium licence portfolio covering 1,177 sq km in Ivory Coast, West Africa, complementing the company's exciting lithium portfolio in neighbouring Ghana. A conditional agreement with Enchi was first announced on 13 September and the IronRidge’s wholly owned applications were first announced on 25 November.
- Enchi satisfies all earn in agreement terms to successfully ratify the partnership with IronRidge.
- Access rights secured to one application through the partnership covering 400 sq km.
- Access rights secured to two wholly owned applications covering a further 777 sq km for a total 1,177 sq km prospective lithium portfolio in Ivory Coast.
- Technical due diligence programme including 54 rock chip samples completed across the project area.
- 1,177sq km Ivory Coast exploration portfolio complements the company's advanced and exciting 314sq km high-grade lithium exploration portfolio in Ghana.
- Project well positioned within 75km of the capital Abidjan; excellent infrastructure, logistics and services support for potential rapid development.
Chief executive Vincent Mascolo said: "The addition of these strategic and highly prospective licences to our lithium portfolio dovetail nicely into our exciting and advancing Lithium projects in Ghana, where we see enormous potential in the stored energy space and beyond.
"The formula is right with revolutionary power initiatives expanding in Africa and globally; pro-mining jurisdictions, excellent proximity and infrastructure imply the potential for rapid development and first quartile costings."
At 8:35am: (LON:IRR) Ironridge Resources Limited Ord Npv Di share price was +1.25p at 35.5p