Iris Metals Hits More High Grades of Lithium at Beecher Project in South Dakota

IRIS Metals Ltd’s (ASX: IR1) drilling results are continuing to impress, with additional wide and high-grade lithium intersected at the Longview pegmatite within its Beecher Project in South Dakota.

New high-grade lithium intersections include 27.8 metres at 1.90% lithium oxide from 70.7 metres and 18.7 metres at 1.03% lithium oxide from 29.3 metres.

Historical mines

The Beecher Project is located 7 kilometres from the township of Custer in the Black Hills of South Dakota.

The project includes the historical Longview, Beecher and Black Diamond mines.

Longview was mined in the 1950s for lithium, with lithium-rich spodumene ore sent to Hill City for processing.

Consistent widths and grade

Iris’s additional holes continue to show consistent widths and grade at Beecher.

Diamond drilling is continuing at the Beecher property targeting both the Longview and Black Diamond extensions along strike and at depth.

Of note is the depth of mineralisation in BDD-23-015 with lithium mineralisation reported at over 200 metres downhole.

Now that the ground is thawing, the Iris team can begin preparing pads to test the southern portion of the Black Diamond pegmatite.

Support for local supply of lithium

Iris holds mining permits for the entire Beecher Project, allowing it to initiate mining activities at any time.

The project benefits from existing infrastructure and resides in a supportive jurisdiction within a major lithium market.

Importantly, the US government has identified lithium as a critical mineral, providing large monetary grants to ensure local supply.

This is aimed at moving the US away from its current dependence on other nations.

Moving forward

A diamond drill rig is on-site with continuing testing of the pegmatites along the strike and at greater depth, also providing metallurgical and geotechnical samples for mining feasibility studies.

The first metallurgical diamond drilling was recently completed, and test work is underway that will be used in mining feasibility studies.

In addition to the Beecher Project, Iris has designed drill targets for the Tin Mountain and Helen Beryl projects.

Site preparation for drilling at these locations will begin once permits are granted and the ground thaws, allowing for the construction of drill pads.

Iris had cash of A$13 million at the end of the December 2023 quarter after raising A$7.5 million via a share placement at A$1 per share.





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