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IronRidge Resources reveals yet more high-grade drill results

"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,” said chief executive Vincent Mascolo

IronRidge Resources Ltd - IronRidge Resources reveals yet more high-grade drill results

IronRidge Resources Limited (LON:IRR) has revealed the latest high-grade drilling results from its Zaranou gold project in Côte d'Ivoire.

The final batch of results of the second phase drill programme come from the Ebilassokro and Ehuasso targets.

Highlights of the results include grades up to 10 grams per tonne across a 16 metre (m) section, and, 40m with 1.29 grams per tonne.

READ: IronRidge kicks off new phase of drilling at Zaranou

"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,”  Vincent Mascolo, Ironridge chief executive said in a statement.

A phase 3 drill programme, to comprise around 50,00 metres of work, began earlier this month and continues with two rigs presently on-site. A third rig will arrive and join the campaign within four weeks.

IronRidge noted that the mineralisation is now confirmed to have continuity over 1.7 kilometres (km) of strike at the Ehuasso Main target, which is still open to the south-west and at depth.

"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,” Mascolo added.

"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,” he concluded.

Quick facts: IronRidge Resources Ltd

Price: 17.2 GBX

AIM:IRR
Market: AIM
Market Cap: £70.58 m
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