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IronRidge Resources to advance Zaranou gold project as joint venture is sealed

“We are now actively carrying out initial field programmes including mapping, channel sampling and trenching over the highest priority target areas," IronRidge MD, Vincent Mascolo said.

The company is focusing on priority targets along 16km of strike

IronRidge Resources Ltd (LON:IRR) has confirmed that its joint venture for the Zaranou Gold Project, in Côte d'Ivoire, will advance as due diligence has been completed.

The company and its partners, GeoServices and Atlas Resources, will now take the ‘highly prospective’ exploration project forward.

Zaranou spans some 397 square kilometres and it has previously been observed via high resolution satellite imagery, which helped identify artisanal mining sites representing some 16 kilometres of strike length.

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That is part of a broader 40 kilometre trend of artisanal mining observed in the imagery.

Field programmes have already begun with the initial work focusing on channel sampling and mapping of extensive artisanal mining pits.

"We are very pleased that due diligence has been successfully completed; with the joint venture agreement between IronRidge and Geoservices now ratified,” said managing director Vincent Mascolo.

"In an effort to expedite the project we have already secured high-resolution satellite imagery which has successfully defined 40km strike of artisanal mining sites and helped define high-priority target areas ahead of field work commencing.”

He added: “We are now actively carrying out initial field programmes including mapping, channel sampling and trenching over the highest priority target areas defined from the satellite imagery ahead of drill testing."

Quick facts: IronRidge Resources Ltd

Price: 8.9 GBX

Market: AIM
Market Cap: £29.73 m

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