Iris Metals (ASX:IR1) Announcement Overview

Iris Metals Limited (ASX:IR1) has announced the successful completion of a metallurgical test program at the Beecher Project in South Dakota, USA. The program has resulted in the production of a high purity spodumene concentrate, exceeding 6.0% lithium oxide (Li2O) content, with lithium recovery exceeding 82%.

Executive Commentary on Beecher Project Results

The results of our metallurgical test work at the Beecher Project are very exciting. Iris has now demonstrated the ability to develop a high purity spodumene concentrate, confirming the processing viability of our South Dakota deposits that host some of the largest spodumene crystals in the world. The South Dakota team is quickly moving to further refine our process flow sheet and complete process test work on additional spodumene bearing pegmatites, with the potential of a near-term bulk sampling effort. Iris is advancing efforts on several fronts as we continue to unlock value across our substantial holdings in South Dakota.

Summary of Iris Metals Announcement

Iris Metals has successfully achieved a high purity spodumene concentrate from the Beecher Project, exceeding 6.0% lithium oxide (Li2O) content, with lithium recovery exceeding 82%. The company is now planning next steps, including bulk sample processing with Dense Media Separation (DMS) and further refinement of the spodumene concentrate into lithium carbonate. Iris is also investigating paths to refine spodumene concentrate from its projects into lithium carbonate or lithium hydroxide within the United States. Additionally, the company has completed a diamond drilling program at the Beecher Project and is focused on developing the initial mineral resource estimate, anticipating its completion by the first quarter of 2025. Iris Metals' extensive exploration efforts across its South Dakota project areas aim to identify promising targets for future drilling, supporting the company's ambitions to unlock value across its substantial holdings in South Dakota.