IronRidge Resources - Zaranou Continues to Deliver High Grade Continuity
Additional High-Grade Drilling Results Received
Ehuasso and Ebilassokro Targets Enhanced
Figures and Tables referred to in this release can be viewed in the PDF version available via this link:http://www.rns-pdf.londonstockexchange.com/rns/2822Z_1-2020-9-17.pdf
Ø New high-grade 4m composite reverse circulation ("RC") drilling results received for the final second phase drill holes completed over the Ehuasso target, including at the Ehuasso Main target, reported at a 0.1g/t cut-off and maximum 4m of internal dilution, including highlights:
o 16m at 10g/t from 44m in hole ZARC0022
o 40m at 1.29g/t from 80m in hole ZARC0019
Ø Mineralisation continuity now confirmed over a 1.7km strike at the Ehuasso Main target, with mineralisation open to the south-west and at depth; follow-up phase 3 infill RC drilling now underway.
Ø Additional high-grade air-core ("AC") results (from the previously reported 4m composites on
o 6m at 9.08g/t from 53m in hole ZAAC0436
o 2m at 20.43g/t from 58m in hole ZAAC0432
o 24m at 1.14g/t from 12m in hole ZAAC0427
o 7m at 3.16g/t from 1m in hole ZAAC0294
o 4m at 2.11g/t from 28m in hole ZAAC0438
o 6m at 1.37g/t from 28m in hole ZAAC0435
Ø Further new AC drill intersections reported at the Ebilassokro exploration target in 4m composite samples along the second reconnaissance drill traverse, reported at a 0.1g/t cut-off and maximum 4m of internal dilution, including highlights:
o 4m at 6.13g/t from 52m in hole ZAAC0460
o 24m at 0.32g/t from 16m in hole ZAAC0491
o 8m at 0.88g/t from 16m in hole ZAAC0491
Ø Third phase 50,000m RC and AC drilling programme now underway with two drill rigs active on site and a third rig planned to arrive within four weeks.
Commenting on the Company's latest progress,
"As expected, Zaranou continues to deliver outstanding drilling results and the Board's confidence in a significant project grows on each drill hole and gold mineralised intersection.
"With only 12km of 47km of potential strike having been drill tested to date, we have already uncovered three exciting target zones - Ehuasso, Yakasse and Ebilassokro with additional targets M'Basso and
"Ehuasso is the most advanced target area with mineralisation continuity now defined in 160m spaced AC drill traverses over 1.7km strike and up to 70m of apparent thickness, drilled to a maximum vertical depth of 100m and remaining open along strike and at depth.
"Our early ounces strategy is to target weathered oxide mineralisation, with initial observations suggesting it continues to average depths of 50m and up to 90m, suggesting simple mining and processing at low operational and capital costs.
"Our longer-term strategy is to extend a resource at depth within fresh material where initial RC results have intersected high-grade mineralisation.
"The third phase 50,000m combined AC and RC programme is now well underway with two drill rigs active on site and a third rig planned to arrive shortly."
High-Grade Gold Intersections
All 4m composite drill assay results have now been received for the remaining RC and AC drill holes completed at the Ehuasso and Ebilassokro targets within the Zaranou license (refer Figure 1).
New gold drill intersections at greater than 5 gram-metres for the remaining 4m composite results in RC drilling at the Ehuasso target and AC drilling at the Ebilassokro target, as well as 1m primary AC results received over the Ehuasso target are reported in Table 1 below. All intersections are reported in Table 1 and Appendix 1 at a 0.1g/t cut-off and maximum 4m of internal dilution for the 4m composites and 1m of internal dilution for the 1m primary samples.
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
The new 4m composite results in remaining RC holes over the Ehuasso target provide further significant intersections within the Ehuasso Main target including 40m at 1.29g/t from 80m (including 4m at 9.9g/t) in hole ZARC0019 and new high-grade intersections at the Ehuasso target, including 16m at 10g/t from 44m (including 4m at 25.1g/t) in hole ZARC0022 (refer Figure 2 and Figure 3). The broad and high-grade results provide further confidence in strike and depth continuity at the Ehuasso Main target and also define new high-grade targets.
The newly reported 4m composite RC intervals provide confidence in continuity of mineralisation within the Ehuasso Main target zone and confirm mineralisation over 1.7km of strike and up to 70m apparent width, which remains open along strike to the south-west and at depth (refer Figure 2 and Figure 3).
Primary 1m samples from previously reported 4m composites over the Ehuasso target (refer RNS of
The newly reported 1m primary sample results reaffirm previously reported 4m composite results within the Ehuasso target and provide greater resolution to 1m sample intervals within mineralised intervals, whilst managing assay costs.
The new 4m composite results in remaining reconnaissance AC holes over the Ebilassokro target provide further encouraging results including 4m at 6.13g/t from 52m in hole ZAAC0460 and 24m at 0.32g/t from 16m in hole ZAAC0543 (refer Figure 4).
The newly reported results at Ebilassokro complement previously reported results (refer RNS of
Additional cross sections for reported drill results at Ehuasso are included in Appendix 2.
The third phase 50,000m combined AC and RC drilling programme is progressing well with two drill rigs currently on site and drilling at the Ehuasso Main and Ebilassokro targets, with a third rig due to arrive on site within the coming weeks.
Drilling is planned to continue over the Ehuasso, Ebilassokro, Coffee Bean, M'Basso and Yakassé targets up to the end of Q4 2020 with results reported as they become available (refer Figure 1).
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:
The Company entered into conditional earn-in arrangements in Côte d'Ivoire,
The Company entered into an agreement with
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