Commodities, Exploration/Development, Lithium, News

Reviving a historic lithium mine

Iris Metals

Iris Metals is looking to mine once again at the historic Beecher project in South Dakota, US, announcing a suite of high-grade assays.

Drill hole BDD-23-005 returned 53.55m at 1.73 per cent lithium oxide (Li20) from 125m, including 5.2m at 2.39 per cent Li20 and 9.7m at 3.59 per cent Li20. This included 4.9m at 5.07 per cent Li20 – Iris’ highest-grade return to date.

These results tested the Black Diamond pegmatite at greater depth.

“This result confirms the potential for the larger Black Diamond pegmatite to host significant lithium mineralisation,” Iris technical director Chris Connell said.

“We know from mapping and earlier RC (reverse circulation) drilling, the widths of both the pegmatite and the zones of spodumene in the Black Diamond pegmatite increase notably as we head towards the untested southern portion of the Beecher project.

“The Black Diamond pegmatite has the potential to add significant volumes to our mineral resource at the Beecher project.”

Comprising the historic Longview and Black Diamond lithium mines, the Beecher project hosts a combined outcropping pegmatite of nearly 2km in length.

The project is located on patented claims comprising 51 hectares, surrounded by 20,300 hectares of Bureau of Land Management (BLM) staked claims. Patented claims effectively bestow exclusive exploration and mining rights to the owner.

Iris is continuing diamond drilling at Beecher to target both the Longview and Black Diamond extensions along strike and at depth.

The company also recently completed its first metallurgical diamond drill hole, which has been sent for analysis and will be used in future feasibility studies.

Iris was trading at $0.51 per share at close on Wednesday morning after reaching $0.57 per share following the announcement on Tuesday. The company is up more than six per cent across the past week.

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