Edison Drilling Yields 6.65m at 3.30% Li2O, Boosting IRIS Metals’ Resource Potential

Strong Start at Edison Project

IRIS Metals Limited (ASX – IR1) has reported encouraging results from its Phase I diamond drilling campaign at the Edison Project, located in South Dakota's historic Black Hills mining district. The program, comprising 15 drill holes totaling 2,278 metres, has confirmed multiple high-grade lithium intersections within spodumene-bearing pegmatite dikes, including standout intercepts such as 6.65 metres at 3.30% lithium oxide (Li2O).

The drilling has expanded the known mineralised pegmatite dike complex and provided critical geological insights, revealing a complex system with pegmatites that remain open at depth. This suggests significant upside potential for expanding future resource estimates beyond the current footprint.

Implications for Resource Development

These results mark a pivotal step for IRIS Metals as it advances its lithium exploration and development strategy in the United States. The Edison Project, situated just 4 kilometres from Keystone, sits on privately owned land with a rich lithium mining history dating back to the early 20th century, including the former Edison Mine once owned by Thomas Edison himself.

IRIS Metals’ U.S. Operations President, Matt Hartmann, highlighted the significance of the high-grade intercepts, describing them as some of the best lithium grades recorded to date in the Black Hills region. The findings support IRIS’s broader vision of establishing a 'hub and spoke' production model, centralising processing across multiple lithium assets in South Dakota.

Next Steps and Strategic Outlook

Building on the Phase I success, IRIS is actively planning a Phase II drilling program aimed at further delineating the mineral resource. This next phase will leverage the enhanced geological understanding gained from the initial drilling to target priority zones and deepen the exploration footprint.

Concurrently, the company is conducting due diligence on potential acquisitions to expand its regional portfolio, reinforcing its position in a mining-friendly jurisdiction that benefits from strong US government incentives for critical minerals. IRIS aims to complete a comprehensive economic study by early 2026, which will evaluate the viability of a multi-mine production unit and underpin its development plans.

Positioning in the US Lithium Market

The Edison Project is part of IRIS Metals’ extensive South Dakota portfolio, which includes other promising assets such as the Beecher, Tin Mountain, Helen Beryl, and Tinton projects. The Black Hills region is renowned for its lithium-bearing pegmatites, historically mined for spodumene and other minerals.

With global demand for lithium surging due to the electric vehicle and battery storage markets, IRIS Metals is strategically positioned to contribute to the US critical minerals supply chain. The company’s focus on high-grade spodumene deposits and its hub and spoke approach could offer a competitive advantage in delivering locally sourced lithium to meet near-term demand.