IRIS Metals Limited (ASX:IR1) Confirms Robust Lithium Intersections at Beecher Project
Key Assays and Resource Progress
IRIS Metals Limited (ASX: IR1) has received the final assay results from its Phase I drilling program at the Beecher Project in South Dakota, confirming significant high-grade lithium intersections. Notable results include multiple wide intersections with grades exceeding 1.5% Li2O. The maiden mineral resource estimate for the project is on track for completion in Q1 2025, alongside plans for a demonstration mining program to collect a minimum 10-ton bulk sample in early 2025.
Exceptional Drilling Results
The company reported potent results from several drill holes, including:
– BDD-24-051: 32.6m @ 1.58% Li2O, including 7.3m @ 2.37% Li2O.
– BDD-24-065: 29.4m @ 1.63% Li2O, with a specific high-grade section of 12.6m @ 2.33% Li2O.
– BDD-24-066: 33.2m @ 1.23% Li2O, indicating the continuation of resource potential at depth.
These results substantiate the Beecher Project’s promising potential as a significant lithium source.
Comments from Management
Matt Hartmann, President of U.S. Operations, expressed enthusiasm regarding the ongoing achievements at the Beecher Project:
“We are pleased that exceptional high-grade lithium intercepts continue to be achieved at the Beecher Project in South Dakota. These are vital steps toward establishing a hub-and-spoke production model in the area.”
Future Plans
IRIS Metals is progressing additional mining and processing studies designed to support the broader development of the Beecher Project. The company aims to transition from an explorer to producer, with current permitting processes for exploration work at the Edison Project nearing completion and drilling scheduled to commence in Q2 2025.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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