logo-loader
viewIronRidge Resources Ltd

IronRidge Resources building strength in lithium and gold

Snapshot

In March, IronRidge reported multiple new high-grade lithium pegmatite intersections in reverse circulation drilling at Ewoyaa

Elephant

Quick facts: IronRidge Resources Ltd

Price: 12 GBX

AIM:IRR
Market: AIM
Market Cap: £48.54 m
Follow

 

  • IronRidge has a diverse portfolio of early-stage assets in West Africa and Australia.

  • Efforts currently are focused on lithium in Ghana and gold in the Ivory Coast

  • Recent drilling in Ivory Coast delivers exceptional initial results

 

 

What it owns

Ghana

The combined land package in Ghana now totals over 645 sq km of lithium assets including the advanced Ewoyaa and Abonku prospects and re-discovered Egyasimanku Hill, which contains a historic resource of 1.48mln tonnes at 1.66% Li2O (lithium oxide).

Highlights from infill drilling at Ewoyaa include 80 metres grading 1.52% lithium oxide, 68 metres grading 1.31% Li2O, and 60 metres grading 1.34% Li2O.

In January 2020 a maiden resource for Ewoyaa was produced, amounting to 14.5mln tonnes grading 1.31% lithium oxide across three deposits: Ewoyaa, Abonko, and Kaampakrom.

The resource estimate includes 4.5mln tonnes grading 1.39% in the indicated category.

Metallurgical test work also indicated a high-grade spodumene concentrate with low level contaminants can be produced by simple crushing to 6.3mm and using gravity Dense Media Separation.

Ivory Coast

In Ivory Coast/Cote D’Ivoire, Ironridge has access rights to highly prospective gold mineralised structures and pegmatite occurrences covering 3,110sq km and 400sq km areas respectively. 

At Zaranou, follow up drilling to channel and rock-chip samples hit grades as high as 23 grammes per tonne (g/t) of gold, while one hole showed gold at 3.39 g/t over a width of 22 metres (m).

Results from shallow drilling at Bianouan in September indicated grades up to 5.87g/t gold down to 50m.

Gabon

In Gabon, Ironridge has two province-scale iron ore projects.

Tchibanga is in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline. 

Chad

Ironridge has access to 1,000sq km of ground highly prospective for gold and other mineral projects in Chad, Central Africa. 

The Dorothe, Echbara, Am Ouchar, Nabagay and Ade licences host multiple, large-scale gold projects. 

Initial trenching results at Dorothe has defined significant gold mineralised quartz veining over a confirmed 1km strike.

A wide-ranging electrical resistivity programme has also identified multiple anomalies were identified that coincided with the high-grade gold trenching anomalies.

Australia

Ironridge’s Monogorilby project in Australia is prospective for province-scale titanium and bauxite, and already boasts an initial maiden resource of 54.9mln tonnes of premium DSO bauxite.

Monogorilby is located in central Queensland, within a short trucking distance of the rail system leading north to the Port of Bundaberg.

May Queen is located within the Monogorilby licence and is highly prospective for gold. Historic drilling completed during the 1980s intersected multiple high-grade gold intervals including two metres at 73.4 g/t gold.

What's the latest?

The company has initiated a second phase of drilling at Zaranou, following stand-out results from the first phase, the results of which were released in January and February 2020.

What does the chief executive say?

"We are delighted with the progress the Company has made to date across our portfolio, with activities undertaken continuing to add value to each of the projects," says chief executive Vincent Mascolo.

 

 

Inflexion points

 

  • Further results of drilling at Zaranou
  • The exploration licence covers 397 square kilometres of ground
  • Resource and feasibility study underway at Ewoyaa, which is being shown off to potential EV makers
  • Further exploration in Chad following IP study at Dorothe

 

 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of IronRidge Resources Ltd named herein, including the promotion by the Company of IronRidge Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

IronRidge Resources' Vincent Mascolo welcomes 'highly valuable' new data set...

IronRidge Resources Limited's (LON:IRR) Vincent Mascolo tells Proactive London's Andrew Scott they've identified a drill ready target at the Zaranou gold license in Côte d'Ivoire from recently secured historical data. He adds that they've also enlarged a second phase drilling programme over the...

3 days, 20 hours ago

3 min read