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IRIS Metals Limited (ASX:IR1)

ALERT: Price-sensitive ASX Announcement for IR1
Current share price for IR1 : $0.066 -0.016 (-19.51%)+
Announcement
Release
28 Apr 2026 9:49AM
Price at Release
$0.082
Full Release
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Summary
IRIS Metals Limited has released an updated Mineral Resource Estimate (MRE) for the Beecher Project in South Dakota, USA, highlighting a resource comprising 3.03 million tonnes with 1.00% lithium oxide (Li2O) and 0.116% rubidium oxide (Rb2O). The project features three spodumene-bearing pegmatite deposits and marks a milestone as one of the first U.S. estimates to quantify rubidium as a by-product. The report underscores rubidium's strategic importance and notes its high-grade zones and potential by-product benefits. Metallurgical studies suggest efficient processing methods, and the project is positioned to meet rising demands for critical minerals through both open pit and underground mining strategies.
Key Points
  • Updated Mineral Resource Estimate (MRE) for Beecher Project with a lithium and high-grade rubidium component.
  • Beecher Project is located in South Dakota, USA, comprising three mineralised spodumene-bearing pegmatite deposits.
  • Total resources of 3.03 million tonnes at 1.00% Li2O and 0.116% Rb2O.
  • Rubidium component is defined with an average grade of 0.116% Rb2O, highlighting a high-grade zone with 1.04 million tonnes at 0.203% Rb2O.
  • Beecher MRE is one of the first U.S. mineral resources to quantify rubidium as a by-product, emphasizing its strategic importance.
  • Metallurgical studies demonstrate potential for conventional DMS and flotation processing with lithium recoveries up to 80%.
  • The project supports both open pit and underground mining methods.
  • Rubidium is noted as a critical mineral with applications in defense, telecommunications, and aerospace.
  • Current metallurgical and market evaluations are exploring rubidium's potential as a by-product.
  • The report confirms significant rubidium deposits, aligning with increasing demand for critical minerals.
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.