IR1 - Iris Metals

[System]

IRIS Metals is a minerals exploration company formed for the purposes of applying for and acquiring interests in minerals exploration tenements and tenement applications in Western Australia. The Company holds the rights to interests forming the Kookynie and Leonora Projects.

KOOKYNIE
The Kookynie gold mining camp historically produced in excess of 600,000 ounces of high-grade gold since the 1890’s. All significant historical high-grade lodes mined at Kookynie were discovered in areas of outcrop discovered by prospectors at the turn of the last century.

Utilising 21st Century technology and modern exploration techniques, IRIS Metals will be exploring for what the 'old timers' may have left behind due to the difficulty of prospecting through the thin layer of transported alluvial cover across much of Kookynie.

This hypothesis has already been proven by the Metalicity Limited/Nex Metals Exploration Limited joint venture; with Genesis Minerals Limited and Carnavale Resources Limited also demonstrating recent exploration success in the area through modern technology and methodical geological work.

Among its 35.5km² Kookynie tenure, IRIS has recorded historical production with grades as high as 63.8 g/t. IRIS will be undertaking a highly focused and targeted program with clear short, as well as longer term targets.

LEONORA
Located approximately 60km north of Kookynie, IRIS holds a 71km² tenement package contiguous to Kin Mining Limited and its 1.23M ounce Cardinia Hill project. The Company's Little Dipper prospect is adjacent the Wanghi Prospect of Golden Mile Resources Limited, where a recent Air Core drill result hundreds of meters from the IRIS Metals Little Dipper prospect created significant interest. It is also worth noting that Leonora has recently undergone consolidation with the ~$85m (enterprise value) scheme of arrangement between Dacian Gold Limited and NTM Gold Limited.

It is anticipated that IR1 will list on the ASX during September 2021

Iris Metals - Unlocking new frontiers for battery metal exploration.

IRIS Metals (ASX:IR1) is a hard rock lithium exploration company with a primary focus on exploration, development and mining activities in South Dakota, USA. The South Dakota Project provides the Company and its shareholders with exposure to the battery metals space in a mining friendly...

www.irismetals.com

 

[Dona Ferentes]

Listing date	10 September 2021 #
Company contact details	https://www.irismetals.com/ Ph: +61 2 8098 1169
Principal Activities	Mining exploration in Australia
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	IR1
Capital to be Raised	$7,000,000
Expected offer close date	23 August 2021
Underwriter	Not underwritten. Taurus Capital Pty Ltd (Lead Manager)

 

[greggles]

Iris Metals booming. The company's Black Hills Lithium Project in South Dakota is shaping up nicely even though they are only at the detailed mapping and sampling stage. The Project has a number of distinct project areas with a number of existing mines where rock chip and channel rock saw sampling is ongoing.

The location of the Black Hills Lithium Project and the timing of its development are both playing a role in IR1's success. With the US turning away from Chinese supply of critical minerals and lithium defined as critical to US national security, US-based battery mineral projects are luring in a lot of investors.

I'm seeing some crazy price targets being thrown around elsewhere. There is a lot of really positive sentiment surrounding Iris Metals at the moment and this could continue to drive the share price higher in the short term. But sooner or later, hype will need to be replaced by some substance when it comes to fundamentals.

 

[rcw1]

Good afternoon
Another 52 week (week near enough) high today (150922). 12.08% gain at the minute. rcw1 missed this little rocket ):

Kind regards
rcw1

 

[Dona Ferentes]

another 52 week (week near enough) high today (150922). 12.08% gain at the minute. rcw1 missed this little rocket ):

U Did Well To Avoid .... had a prolonged time on the bench, & the 12 months past have been rather ordinary. ...market cap of $65m

HIGHLIGHTS from latest Q
• The majority of RC drilling assays were received including, multiple wide and high-grade lithium spodumene pegmatite intersections, including 78m @ 1.03% at the Beecher Project, South Dakota.
• Key results include:
• 27m @ 1.54% Li₂O from 9m;
• 22m @ 1.53% Li₂O from surface
• 30m @ 1.41% Li₂O from 52m
• 78m @ 1.03% Li₂O (70m true width) from 19m
• Commencement of ongoing diamond drilling at the Beecher project producing encouraging visual intersections at Black Diamond.
• AUD7.5m in capital raised (before costs).
• Tin Mountain package of patent properties secured, bolstering IRIS’ portfolio of tenure.

 

[Dona Ferentes]

had a prolonged time on the bench, & the 12 months past have been rather ordinary. ...market cap of $65m

and kept selling off to under 20c ... then today up 100 per cent to 36.5c

Iris has successfully converted its spodumene concentrate to 99.5% battery grade lithium carbonate. This milestone was achieved using ore entirely sourced from its Beecher Project in South Dakota, USA. The conversion to lithium carbonate was done in the US, using a domestic process and IP, marking a significant new capability in America’s efforts to secure domestic supply chains of critical minerals and IRIS’ role in that.
• This milestone demonstrates IRIS Metals' progression from an exploration company to a near-term producer and supplier of lithium carbonate equivalent
• The Beecher project is licensed for production and well advanced towards a maiden mineral resource estimate expected in early 2025
• The conversion to lithium carbonate was done with ReElement, following the successful production of 6% spodumene concentrate from IRIS’ Beecher project in South Dakota (refer to ASX Ann. dated 09 October 2024)
• ReElement Technologies is a wholly owned subsidiary of American Resources Corporation (NASDAQ: AREC)
• ReElement is advancing from demonstration operations to a commercial-scale critical minerals processing and refining plant
• Following this successful conversion to LCE, IRIS Metals has signed a MOU with ReElement for further bulk testing and development of a commercial scale supply solution for the US market
• This MOU brings the parties closer to IRIS and ReElement becoming the first new near-term domestic suppliers of battery-grade lithium carbonate that can deliver fully Inflation Reduction Act compliant lithium units to the growing US market
• The parties are negotiating a potential investment by ReElement in IRIS Metals to strengthen the domestic US lithium carbonate supply