IronRidge Resources Ltd (LON:IRR) moved higher after reporting it had found multiple high-grade intersections at the Dorothe gold project in Chad.
Highlights of the drilling across “fresh rock” trenches included:
- 8 metres (m) @ 4.73 grams per tonne (g/t) gold;
- 12m @ 2.87g/t gold;
- 10m @ 2.98g/t gold;
- 10m @ 2.05g/t gold;
- 4m @ 4.67g/t gold
- 4m @ 4.61g/t gold
- 2m @ 8.9g/t gold
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IronRidge reported that the mineralisation is open along strike with the Dorothe Main Vein (DMV) zone and is open in all directions within the broader Dorothe Artisanal Pitting (DAP) zone.
It added that there are large areas of untested potential mineralisation concealed below thin cover within the DAP.
There is potential scope for both high-grade, narrow mineralisation and broad, large-scale bulk mineralisation.
“These first pass, high-grade trenching results over significant widths within the Dorothe Artisanal Pitting zone are significant and demonstrate the mineralisation potential within the 3km x 1km zone defined to date,” said Len Kolff, IronRidge’s chief geologist.
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“"At present, only one significant trench has been completed through the Artisanal Pitting zone, with mineralisation open in all directions.
"Trenching within the Dorothe Main Vein zone continues to deliver high-grade intersections over 2m and up to 10m in width, with lower grade intervals extending out to 14m widths; demonstrating good continuity along this 1km striking vein swarm that remains open along strike in both directions,” he added.
"Further exploration upside is evident in regional soil sampling where three significant gold soil anomalies have been defined in similar structural settings to the Dorothe prospect," Kolff said.
Shares were up 3.2% at 37.7p in mid-morning trading.