Iris Metals (ASX: $IR1) Quarterly Activities & Cashflow Report

Iris Metals Limited (ASX: $IR1) is pleased to report its quarterly activities for the period ending 30 June 2024. The company has continued to advance exploration activities on its highly prospective mineral tenure in the Black Hills of South Dakota, USA. Iris holds an active mining permit over the entirety of the Beecher Project, enabling mining activities to commence at the Company's election. The US government has identified lithium as a critical mineral, providing large monetary grants to ensure local supply to move the US away from its current dependence on other nations.

Executive Commentary

Kevin Smith appointed as Non-Executive Director and Matt Hartmann appointed as President U.S. Operations, resulting in IRIS' expansion of its US-facing presence. By bolstering IRIS' US presence, we aim to position ourselves for Inflation Reduction Act funding, intensifying our efforts to leverage our projects' strong positioning for this financial opportunity.

Summary

Iris Metals (ASX: $IR1) has reported impressive drilling intercepts at the Beecher project, showcasing wide and high-grade lithium intersections. The company continues to assess the wider critical mineral prospectivity of its extensive mineral tenure in the Black Hills and has made significant board changes to strengthen its US presence. With ongoing exploration activities and metallurgical testing, Iris Metals remains focused on advancing its projects and leveraging financial opportunities. The company's strong positioning in the lithium market and its strategic appointments indicate a positive outlook for its future endeavors.