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IRIS Metals Limited (ASX:IR1)

ALERT: Price-sensitive ASX Announcement for IR1
Current share price for IR1 : $0.066 -0.044 (-40%)+
Announcement
Release
10 Sep 2025 9:49AM
Price at Release
$0.110
Full Release
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Summary
IRIS Metals Limited (ASX:IR1) announced the acquisition of the Ingersoll Project and 87 federal mining claims in the Black Hills of South Dakota, USA. This acquisition includes the historically significant Bob Ingersoll Mine, known for lithium and beryllium production. The strategic addition boosts IRIS's private land holdings to 41 hectares, supporting its near-term lithium production goals. The transaction, worth US$625,000 in shares and US$50,000 cash, strengthens IRIS's position as a leading lithium explorer. The company plans to commence drilling in late 2025, enhancing its mineral portfolio under its 'Hub & Spoke' strategy.
Key Points
  • IRIS Metals acquired the Ingersoll Project in South Dakota.
  • The acquisition includes 87 federal mining claims and 12.2 hectares of private land.
  • The Bob Ingersoll Mine has a significant history in lithium and beryllium production.
  • The acquisition cost is US$625,000 in IRIS shares and US$50,000 in cash.
  • IRIS aims to start drilling operations in Q4 2025.
  • The acquisition aligns with IRIS's 'Hub & Spoke' strategy for centralized processing.
  • IRIS's land holdings in South Dakota now total 11,347 hectares.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.