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IronRidge Resources Ltd

Ironridge identifies another “high-grade, coherent gold anomaly” in Chad

The anomaly was found during the second and final part of a 9,360-metre trenching programme

trenching
Fieldwork will restart in late October

Ironridge Resources Limited (LON:IRR) has identified a sixth “high-grade, coherent gold anomaly” at its Dorothe prospect in Chad, central Africa.

The anomaly is over 900 metres (m) in the strike and up to 150m in width, the explorer added.

READ: IronRidge identifies large gold targets in Chad

Among the highlights of this second round of trenching was an 84m section at 1.7 grams per tonne (g/t) of gold (Au).

Across a shorter distance, Ironridge hit 4m at 5.3 g/t Au, including a 2m section at just over 9g/t.

Ironridge said the latest set of results have “confirmed and enhanced” what was found in the first phase of the programme.

Geologists have now received results from all of the 9,360-metre programme.

Two dominant types of mineralisation have been identified: a steeply east dipping main vein target and shallow west dipping sheeted vein targets.

Fieldwork restarts in October

Fieldwork will re-start in October in the form of an induced polarisation survey planned over Dorothe.

This, the company said, will help further define drilling targets at depth in conjunction with surface trenching results.

IronRidge chief operating officer Len Kolff said: “Additional results of the infill and extensional trenching have confirmed and enhanced previously reported targets as well as defined new high-priority gold targets at the Dorothe prospect.

“Detailed trench logging has enhanced our understanding of structural, lithological and vein-type controls on mineralisation; providing further encouragement that we are dealing with a potentially large mineralised system.”

Shares crept 2.5% higher to 22.8p early on Monday morning.

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Price: £0.17

Market: AIM
Market Cap: £52.5 m
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