Overview of ioneer's latest drill results at Rhyolite Ridge Lithium-Boron Project

ioneer Ltd (ASX: $INR) has announced the discovery of high lithium grades in the newly identified 'Shelf Zone' at the Rhyolite Ridge Lithium-Boron Project in Nevada, USA. The drill results from the southeast section of the South Basin deposit have confirmed lithium grades well above the average of previous estimates, with all 12 holes averaging over 2000ppm lithium in the main B5 ore unit. The Shelf Zone, located outside the Critical Habitat, has shown promising results, and the company is on track with its permitting schedule, expecting the final EIS and Record of Decision in the next three to four months. An updated ore reserve estimate is also anticipated in the coming weeks.

Executive commentary on the significance of the Shelf Zone discovery

Rhyolite Ridge continues to surprise with its unique lithium-boron mineralogy. The southeast section of the South Basin allows us to begin our work providing these critical energy transition materials. Importantly, these findings further demonstrate Rhyolite Ridge and Tiehm's buckwheat can co-exist, and we remain committed to providing these necessary materials while conserving the plant's critical habitat for pollinators. We look forward to the anticipated conclusion of the federal permitting process and Record of Decision in the coming months and beginning construction in 2025 on the United States' first new lithium mine in almost fifty years.

Summary of ioneer's latest drill results and future outlook

ioneer's latest drill results have unveiled the significant potential of the newly identified 'Shelf Zone' at the Rhyolite Ridge Lithium-Boron Project. The high lithium grades, averaging over 2000ppm in the main B5 ore unit, indicate a promising resource for the company. The discovery of the Shelf Zone outside the Critical Habitat further highlights ioneer's commitment to environmental conservation. With the permitting process on track and an updated ore reserve estimate expected soon, ioneer is poised to make substantial progress in its operations. The company's outlook remains positive, with plans to commence construction in 2025, marking a significant milestone in the United States' lithium mining industry.