IronRidge Resources - Zaranou Continues to Deliver High Grade Results
Final Phase Two Drilling Results Received
Additional High-Grade Gold Intersections
Ehuasso and Ebilassokro Targets
Zaranou Gold Project
IronRidge Resources Limited (AIM: IRR, "IronRidge" or the "Company"), the African focussed minerals exploration company, is pleased to report final high-grade drilling results from the second phase drilling programme at the Ebilassokro and Ehuasso targets, both within the Zaranou Gold Project area ("Zaranou"). The license borders with
Figures and Tables referred to in this release can be viewed in the PDF version available via this link:
Ø Final high-grade reverse circulation ("RC") and aircore ("AC") drilling results (from the previously reported 4m composites on
o 5m at 33.63g/t from 138m in hole ZARC0013
o 14m at 4.67g/t from 46m in hole ZARC0022
o 9m at 4.16g/t from 81m in hole ZARC0019
o 24m at 1.14g/t from 12m in hole ZAAC0427
o 7m at 3.44g/t from 52m in hole ZARC0016
o 4m at 5.77g/t from 56m in hole ZAAC0410
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 Final AC drilling results (from the previously reported 4m composites on
o 3m at 5.02g/t from 21m in hole ZAAC0491
o 4m at 2.06g/t from 44m in hole ZAAC0477
o 21m at 0.39g/t from 17m in hole ZAAC0543
o 17m at 0.2g/t from 20m in hole ZAAC0541
Ø All results now received for the second phase drill programme where a total of 20,312m of AC in 404 holes and 2,077m of RC in 12 holes was completed.
Ø Third phase 50,000m RC and AC drilling programme now well underway with three drill rigs active on site at the Ehuasso, Ebilassokro, Yakassé, Mbasso and Coffee Bean targets.
Commenting on the Company's latest progress,
"Zaranou continues to deliver for the Company, with all second phase drilling results now received for a total programme consisting of 22,389m of combined AC and RC drilling.
"Ehuasso Main is our most advanced target area with mineralisation continuity now defined in 160m spaced AC and RC drill traverses over 1.7km strike and up to 70m of apparent thickness, drilled to a maximum vertical depth of 100m which remains open along strike and at depth.
"Drilling to date at Ehuasso has intersected both narrow high-grade and broad low-grade intervals within both weathered and fresh zones. 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.
"Encouraging results have also been returned at the Ebilassokro target where heel to toe AC traverses along existing tracks have intersected high-grade mineralisation including 5m at 270.5g/t at surface within a high-priority soil anomaly exploration target.
"With only 12km of 47km of potential strike having been drill tested to date, we have already uncovered three exciting target zones - Ehuasso, Yakassé and Ebilassokro with additional targets M'Basso and
"The third phase 50,000m combined AC and RC programme is now well underway with three drill rigs active on site."
High-Grade Gold Intersections
All 1m primary sample drill assay results from the previously reported 4m composites on
Highlight gold drill intersections at greater than 5 gram-meters for the remaining 1m sample results in RC and AC drilling at the Ehuasso and Ebilassokro targets, are reported in Table 1, Figure 2 and Figure 3 below. All intersections reported in Table 1 and Appendix 1 are at a 0.1g/t cut-off and maximum 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
Final 1m primary RC and AC results for the remaining Phase 2 programme at the Ehuasso and Ebilassokro targets continue to confirm mineralisation potential at both targets. The newly reported 1m primary sample results reaffirm previously reported 4m composite results within the target areas and provide greater resolution to 1m sample intervals within mineralised intervals, whilst managing assay costs. (refer Figure 2 and Figure 3).
Cross sections for reported drill results at Ehuasso and Ebilassokro are included in Appendix 2.
Drilling results to date for the first and second phase programmes for a combined total of 27,760m AC in 555 holes and 3,670m RC in 22 holes has defined the 1.7km long by up to 70m wide (apparent thickness) Ehuasso Main target within roughly 160m spaced AC-RC traverses. Additional high-priority targets exist at the
The third phase 50,000m combined AC and RC drilling programme is progressing well with three drill rigs currently on site and drilling at the Ehuasso Main, Ebilassokro and Coffee Bean targets (refer Figure 1).
Drilling is planned to continue up to the end of Q4 2020 over the Ehuasso, Ebilassokro, Coffee Bean, M'Basso and Yakassé targets 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.
For any further information please contact:
IronRidge Resources Limited
Tel: +61 7 3303 0610
SP Angel Corporate Finance LLP
Tel: +4 (0)20 3470 0470
SI Capital Limited
Tel: +44 (0) 1483 413 500
Tel: +44 (0) 207 871 4038
Yellow Jersey PR Limited
Tel: +44 (0)20 3004 9512
Notes to Editors:
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