Ghana may be known for its rich gold resources but AIM-listed IronRidge Resources is making good progress with its Ewoyaa lithium project in the country.
Last week, the company reported multiple high-grade lithium pegmatite drill intersections at new targets adjacent to Ewoyaa.
The exploration company recognizes this as an opportunity to refresh and expand their exploration portfolio, raise money and find the new deposits. Finding a good prospect is key for the success of every exploration company.
Over the last 10 years, lithium has become a hot commodity due to its significant role in the production of lithium-ion batteries.
Market projections show that the renewable energy industry will need more lithium carbonate and lithium hydroxide, the raw materials required to produce cathode material, which is typically used in the production of rechargeable lithium batteries.
One of the main sources for lithium is pegmatite crystals. A pegmatite is an igneous rock that is created underground when interlocking crystals form during the final stages of a magma chamber’s cooling. The name pegmatite has nothing to do with the mineral composition of the rock, but rather describes a rock’s physical structure. To be called a pegmatite, the rock should be composed almost entirely of crystals that are at least one centimetre in diameter. Pegmatite lithium deposits, also known as hard-rock lithium deposits, can contain a number of elements, including lithium, tin, tantalum and niobium. Lithium is extracted from hard-rock lithium deposits using conventional open-pit or underground mining techniques with the mineral processed and concentrated using a variety of methods prior to direct use or further processing into lithium compounds, such as lithium carbonate or lithium hydroxide.
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