Iris Metals Limited is a minerals exploration company specializing in hard rock lithium and other battery metals. It focuses on the exploration, evaluation, acquisition, and development of mining tenements, primarily in South Dakota, USA, where it holds the largest portfolio of lithium mining claims in a mining-friendly jurisdiction with a history of past production. The company targets pegmatite-hosted lithium deposits, including spodumene and LCT pegmatites, as well as gold and nickel projects in Western Australia, such as the Kookynine and Leonora Gold projects. Iris Metals Limited pursues rapid prospect evaluation within the South Dakota pegmatite province to identify economic discoveries. Its activities span the basic materials sector, particularly gold and lithium industries, providing exposure to the growing demand for battery metals in North America. Headquartered in South Yarra, Australia, the company operates in cyclical stock markets, emphasizing exploration in prospective regions for lithium, diamond, and associated minerals.