Iris Metals Says Drill Hole Review at South Dakota Project Identifies Rubidium Discovery; Shares Soar 10%

MT Newswires Live

01/08

Iris Metals (ASX:IR1) said a review of 117 drill holes from the Beecher project in South Dakota identified 45 drill holes with intercepts greater than 2 meters at 0.2% grade of rubidium oxide, demonstrating a high-grade rubidium discovery, according to a Thursday Australian bourse filing.

The company plans to incorporate a maiden rubidium mineral resource in the upcoming project mineral resource estimate update, targeted for late first quarter to early second quarter.

The addition of rubidium to Beecher's existing lithium resource "elevates the project to a true multi-commodity critical minerals asset," said Matt Hartmann, president of US operations.

Iris Metals' shares soared 10% in recent trading on Thursday.

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