IronRidge Resources - Exploration Update - Cote d'Ivoire Gold Project
Multiple High-Grade Gold Results
Zaranou License, Côte d'Ivoire
Ø Multiple high-grade gold results returned from 324 reconnaissance channel and rock-chip samples collected over primary 'hard-rock' artisanal mining sites at the Zaranou license.
Ø 9.8km strike length high-priority target zone defined with coincident high-grade gold results, extensive hard-rock artisanal mining sites and favourable geology.
Ø High-grade channel sampling results including:
o 6m @ 3.67g/t gold, inclusive 1m @ 15.8g/t gold
o 3m @ 4.13g/t gold, inclusive 1m @ 11.2g/t gold
o 4m @ 2.39g/t gold.
Ø High-grade rock-chip sampling results including:
o 69.6g/t, 48.8g/t, 25.3g/t and 20.5g/t gold.
Ø Initial observations indicate mineralisation occurs both within quartz veins and the host rock schists over broad zones; scale potential inferred.
Ø New results provide confidence in historical reporting of:
o Mining activity during the 1930's with quartz vein zones between 2m to 60m thick, and over 300m in length with evidence of gold mineralisation extending 10m into pyritic schists either side of the veins and averaging 1.5g/t to 12g/t Au.
o Previous exploration results returned during the late 1990's and 2008 including a best result of 2.2g/t over 21 meters (including 5.7 g/t over 5 meters) in a limited rotary air blast ("RAB") drilling program.
Ø In-house fixed wing drone survey commenced to generate high-resolution topography and aerial imagery base maps.
Ø Planning underway for aircore ('AC') drilling programme and regional soil sampling to commence after the wet season.
References to figures and tables relate to this release visible in PDF format by clicking the link below:
Commenting on the Company's latest progress,
"Receiving consistent and high-grade channel and rock-chip sampling results from an early stage reconnaissance programme over the Zaranou license area reinforces the significant exploration potential of this project and the strategy to aggressively advance the targets.
"The returned results demonstrate that a high-priority target zone is developing over a 9.8km strike length at average 800m width which remains open along strike in both directions, with coincident hard-rock artisanal workings, high-grade channel and rock-chip sampling results and favourable geology.
"Importantly, mineralisation has been recorded both within quartz veins and the host schist lithology; indicating scale potential and bulk mineable widths.
"These newly reported results validate historical reported results including broad mineralised quartz vein zones averaging 1.5g/t to 12g/t gold and mineralised pyrite alteration zones extending a further 10m into the host rock.
"Likewise, historical results including 21m @ 2.2g/t gold in RAB including 5.7 g/t over 5 meters provides additional conviction in an important project.
"Despite the wet season, which is currently underway and is expected to last until September, field teams are completing a high-resolution drone survey and follow-up field mapping, whilst also planning AC drilling and soil geochemical programmes which will commence in the dry season in October."
Reconnaissance Sampling Results
Field teams completed detailed face mapping and channel sampling on over 15 large scale and 130 small scale artisanal pits for a total of 145 primary 'hard-rock' artisanal mining pits within the central portion of the Zaranou license (refer to Figure 1).
A total of 324 samples including 114m* of channel sampling and Quality Assurance / Quality Control ('QA/QC') samples were submitted to the lab for gold assay.
All samples were assayed at ALS laboratories in
Multiple high-grade channel sampling results including 6m @ 3.67g/t gold, 3m @ 4.13g/t gold and 4m @ 2.39g/t gold were returned as part of this reconnaissance programme. All results are reported in Table 1.
The results are significant as gold mineralisation was encountered in both schists and quartz veins, providing confidence in broader mineralised intervals within host rock amenable to bulk mining techniques.
Rock-chip sampling returned multiple high-grade results including 69.6g/t, 48.8g/t, 25.3g/t and 20.5g/t gold, with all rock-chip results reported in Table 2. Results are significant as both quartz veins and schists with disseminated weathered sulphides returned gold mineralisation, providing further confidence in broader mineralised widths.
The high-proportion of >1g/t gold results returning in both the channel and rock-chip sampling results, in addition to broad, low-level gold anomalism in channel sampling as part of a reconnaissance programme is noteworthy and highlights both prospectivity within the license area and the potential for bulk mineable widths (refer Tables 1 and 2, and Figure 2).
Results have defined a 9.8km long and average 800m wide high-priority gold target zone with coincident hard-rock and alluvial artisanal workings, high-grade channel sampling and rock chip results including 6m @ 3.67g/t gold and up to 69.6g/t respectively, and favourable geology (refer to Figure 2).
Mineralisation remains open to the north-east and south-west within a 40km striking shear zone with coincident artisanal workings (refer Figure 3 and Figure 4).
Reported results provide confidence in unverified SEDAR and annual reports by
At Zaranou, field teams have commenced an in-house fixed wing drone survey to generate detailed topography and aerial photography base maps. Concurrently field team are completing field mapping over the area of recently reported assay results to gain a better geological understanding (refer Figure 5).
The Company is planning infill AC drill hole fences to test for mineralisation width and continuity within high-priority zones highlighted in channel and rock-chip sampling assay results, as well as regional soil geochemistry sampling programmes within the south-western portion of the license area. This work is planned to commence at the onset of the dry season, expected during
The Board is delighted with the progress that the Company has made in 2019 to date and looks forward to keeping shareholders updated as further news becomes available.
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For any further information please contact:
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Tel: +61 7 3303 0610
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Tel: +44 (0)20 3470 0470
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Tel: +44 (0)20 3004 9512
Competent Person Statement:
Information in this report relating to the exploration results is based on data reviewed by Mr
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