Mining giants, IronRidge Resources Limited, has hinted it’s likely to secure a mining permit to begin mining of lithium at the Ewoyaa portfolio near Saltpond by the close of the year.

This comes after the company announced that it found significant quantities of Lithium deposits at Ewoyaa near Saltpond.

Exploration Manager at IronRidge Resources Limited, Iwan Williams, said after the scoping study, a revenue totalling 1.5 billion has been estimated with 14.5 million tonnes of the lithium deposit.

“We are prospecting and it would continue until we have found some significant quantities of the mineral. We intend to approach the government of Ghana hopefully this year but it is subject to a successful feasibility study,” he added.

Preliminary Australian Nuclear Science and Technology Organization test-work confirmed Ewoyaa concentrate near Saltpond produces high purity, battery-grade Lithium Hydroxide Monohydrate.

The Australian company has been prospecting for lithium for some months at the Ewoyaa and other communities near Saltpond.

The Exploration Manager explained the company has been prospecting for lithium at the Ewoyaa portfolio for months and they are confident something of significant value would emerge from their activities.

He dismissed figures making rounds on social media that the lithium deposits have been valued at $150 billion.

“Those numbers on social media are pure fiction. We have undertaken a scoping study. It’s not even a feasibility study where we look at our footprint when we announced a mineral result of 14.5 million tonnes in 2019," he said.

The company he noted has employed a huge number of residents in its operations.

Principal Geologists of the company, Abdul Razak said over 120 people have so far been employed in the prospecting operations being undertaken and they are confident more numbers would be added should actual mining commence.

Meanwhile, Municipal Chief Executive for Mfantseman, Kenneth Essuman has dismissed claims that the government has sold 150 billion of lithium deposits at Saltpond.

He said the prospecting of the company has not even ended for anybody to put a value on the purported mineral.

The lithium Project includes the Ewoyaa, Abonko and Kaampakrom deposits. The Ewoyaa Lithium Project is a hard-rock, pegmatite (spodumene rich) hosted system with mineralization beginning near-surface and extending to depths exceeding 200m.

The width of the pegmatite veins varies from greater than 100m to less than a metre and have a strike length exceeding 20km of a continuous structure. In the more continuous sections of the Ewoyaa Main Zone, the pegmatite thickness is typically 30m to 60m.

IronRidge Resources Ltd is an Australia-based minerals exploration company that’s focused on gold and lithium in West African jurisdictions.

In Cote d’Ivoire, it owns an approximately 3,584 square kilometre (km) gold portfolio, which includes its flagship Zaranou gold project, which includes a 47 km long gold prospective structure.

In Ghana, it owns the Cape Coast Lithium portfolio, which covers approximately 684 square km and also includes the Ewoyaa Lithium Project. In Chad, the company owns the Dorothe Gold Project, Echbara gold project and AM Ouchar gold project.

In Australia, it owns the Monogorilby bauxite/titania project, which is located approximately 55 km from a dormant rail system with connections to the Port of Bundaberg and covers approximately 1,484 square km.

The Company also owns the Saltpond license and Cape Coast application in Ghana.