IronRidge Resources - Zaranou Continues to Deliver High-Grade Results
Multiple Additional High-Grade Drilling Results
Significant Targets Defined
Any Figures or Tables referred to in this release can be viewed in the PDF version available via this link:
Ø Multiple additional high-grade and broad low-grade drill intersections in 4m composite samples from remaining Air Core ("AC") and initial reverse circulation ("RC") drilling over the Ehuasso target, including highlights (reported at a 0.1g/t cut-off and maximum 4m of internal dilution):
o ZAAC0446: 4m at 25.8g/t from 4m
o ZAAC0436: 12m at 6.59g/t gold from 52m, including 4m at 17.9g/t
o ZAAC0410: 4m at 16.8g/t gold from 56m
o ZAAC0227: 4m at 8.91g/t gold from 4m
o ZAAC0432: 8m at 4.08g/t gold from 52m, including 4m at 7.7g/t
o ZAAC0282: 8m at 3.32g/t gold from 32m, including 4m at 5.4g/t
o ZAAC0285: 38m at 0.52g/t gold from 2m
o ZAAC0284: 31m at 0.57g/t gold from 28m
o ZARC0011: 12m at 1.19g/t gold from 172m
Ø Initial high-grade results received for reconnaissance 4m composite samples in AC drilling over the Ebilassokro target, 10km to the north-east of the Ehuasso target including highlights (reported at a 0.1g/t cut-off and maximum 4m of internal dilution):
o ZAAC0317: 20m at 1.09g/t gold from 16m, including 4m at 4.9g/t
o ZAAC0321: 16m at 1.02g/t gold from 4m, including 4m at 3.1g/t
Ø Newly reported Ehuasso target results have defined the high-priority, potentially 1.6km long up to 100m wide 'Ghana-Man Pit' target in the north-west, with good mineralisation continuity in the 160m spaced AC drill grid and open to the south-west.
Ø Multiple target areas defined to date within the main Ehuasso AC drill grid with individual targets up to 500m long and 100m wide which remain open along strike.
Ø Drilling ongoing with two drill rigs currently on site at the main Ehuasso grid and Ebilassokro exploration target; both within the broader 47km long Zaranou shear zone.
Commenting on the Company's latest progress,
"Ongoing drilling at the Ehuasso target continues to define significant mineralised zones in the broad 160m spaced AC drill grid.
"We are pleased to report promising reconnaissance drilling results including 20m at 1.09g/t gold in hole ZAAC0317 at the Ebilassokro target, situated 9km to the north-east of the Ehuasso target.
"Drilling remains ongoing with our national team on the ground and two drill rigs currently active at the Ehuasso main grid and Ebilassokro exploration target within the broader 47km strike Zaranou shear zone.
"The Board is pleased with the progress that the Company has made in 2020 to date and looks forward to reporting through a busy upcoming period."
Additional Drilling Intersections
Ongoing drilling at the Ehuasso target has returned multiple additional 4m composite drill intersections in 160m spaced AC drill traverses and deeper RC drilling. Additional drilling comprising 7,345m of AC in 171 holes and 186m of RC in 1 hole are reported herewith as part of the ongoing second phase 15,000m planned programme at the Ehuasso target (refer RNS of 9 July and
Initial results have been received for the first of two 1.6km to 2.5km long reconnaissance AC traverses drilled over the Ebilassokro soil anomaly, approximately 10km to the north-east of the main Ehuasso drill grid. A total of 1,413m of AC drilling in 21 holes is reported herewith for the 4m composite samples.
Drilling remains ongoing at both targets with an AC rig active at Ebilassokro and an RC rig active at Ehuasso.
Multiple additional high-grade and broad low-grade drill intersections have been returned in ongoing drilling at both target areas, with highlight results at greater than 10 gram-meters reported in Figure 1 and Table 1 below and all intersections reported in Appendix 1 at a 0.1g/t cut-off and maximum 4m of internal dilution.
AC drilling at the Ehuasso target has defined multiple zones of mineralisation continuity with new results reported herewith defining a potential 1.6km long by up to 100m wide zone called the Ehuasso Main target in the north-west of the Ehuasso drill grid. In addition to the Main target, an additional six target zones for potential RC drill infill have been defined up to 500m strike lengths and 80m widths, with most targets remaining open along strike and additional results pending from the remainder of the second phase programme now underway (refer Figure 1).
AC drilling has reached downhole depths up to 89m in the reported results and an average downhole depth of approximately 50m. This represents a deep weathering profile which typically supports a more thickly developed oxide gold profile.
Type cross-sections are shown in Figure 2 for section ZAR_06880 and Figure 3 for section ZAR_06720; both within the
All sampling was completed at the drill site and consisted of initial 4m composites submitted for analysis, of which all composites greater than 0.1g/t gold are re-submitted for analysis at 1m intervals from retained primary samples at the project site. ALS laboratory completed sample preparation in Côte d'Ivoire and sample analysis in
Preliminary Ebilassokro Reconnaissance Drilling Results
Assays have been received for the first of two reconnaissance AC drill traverses over the Ebilassokro exploration target with promising initial results including 20m at 1.09g/t gold from 16m in hole ZAAC0317 and 16m at 1.02g/t gold from 4m in hole ZAAC0321 (refer Figure 4 and Figure 5).
The Ebilassokro exploration target is located approximately 10km to the north-east of the main Ehuasso grid and was defined in regional soil sampling, it does not host extensive artisanal workings (refer RNS of
The second phase AC and RC drilling programme is progressing well with two rigs active on the Ehuasso and Ebilassokro targets. Approximately 1,700m of AC and RC drilling remains for completion of the second phase planned programme of 21,000m of drilling across both the Ehuasso and Ebilassokro targets, with additional results to be reported as soon as they become available and have been reviewed.
Competent Person Statement
Information in this announcement relating to the exploration results is based on data reviewed by Mr
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.
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Notes to Editors
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