Iris Metals Expands South Dakota Lithium Portfolio with Ingersoll Project Acquisition.

Iris Metals Limited (ASX: IR1) has announced the acquisition of the Ingersoll Project and 87 federal mining claims in South Dakota’s Black Hills, a historically significant critical minerals district. The Ingersoll Project covers 12.2 hectares of private land alongside 704 hectares of mineral rights, including the historic Bob Ingersoll Mine, known for lithium and beryllium production since the late 1800s. The site hosts five pegmatite bodies with substantial untested potential, two of which were partially mined.

The acquisition complements Iris’s growing South Dakota portfolio, expanding its mineral rights to over 11,300 hectares. Consideration for the transaction totals US$675,000 in a mix of shares and cash, with an additional US$850,000 payable in 2026 to secure full ownership. This strategic move enhances Iris’s “Hub & Spoke” model, establishing another potential production centre on private land and paving the way for drilling at Ingersoll in Q4 2025.

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