IRIS Metals Limited (ASX: IR1) has received results from the first six reverse drilling (RC) holes of a 38-hole programme from its wholly-owned Beecher Project. The results highlight the economic potential of the project.
The Beecher Project is located 7km from the township of Custer in the Black Hills of South Dakota. The project is located on a 15-acre patented claim, surrounded by 20,300ha of bureau of land management (BLM) staked claims. The project includes the historic Longview, Beecher, and Black Diamond mines.
All six holes returned significant near-surface lithium intersections from the Longview pegmatite. Current drilling indicates all three mineralized pegmatites at the Beecher Project remain open in all directions.
Technical director, Chris Connell, commented, “These broad, near surface initial results confirm my confidence in the Beecher Project and the Black Hills as a future lithium mining district of great importance for supplying the US market. IRIS has leveraged its first mover advantage to secure a dominant land holding over the most prospective pegmatites in the Black Hills as confirmed by these initial drilling results.”
Intersections include:
- 60m @1.21% Li₂O (true width) from 16m in BDH-23-001, including:
- 40m @1.40% Li₂O from 36m
- 22m @1.90% Li₂O from 46m
- 54m @1.30% Li₂O (true width) from 1m in BDH-23-009, including:
- 35m @1.58% Li₂O from 4m
- 13m @2.10% Li₂O from 24m
- 40m @1.10% Li₂O (true width) from 48m in BDH-23-002, including:
- 11m @1.53% Li₂O from 48m
- 10m @1.97% Li₂O from 78m
Additionally, a further 32 holes remain at the assay laboratory. IRIS will provide updates through the next few weeks.
In the coming weeks, the company plans to accelerate drill testing at the Beecher Project to define extent of mineralization as quickly as possible, and an additional diamond drill rig is scheduled to complement its RC rig.
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