2nd May 2018 14:32
LONDON (Alliance News) - IronRidge Resources Ltd said on Wednesday it has been granted four exploration licenses at its gold and lithium mines in Ivory Coast.
The four licenses are for Marahui, Vavoua Sotuh, Vavoua North and Adzope all within the Kineta and Vavoua gold project and Adzope lithium project.
IronRide described Ivory Coast as an "under explored and highly prospective" gold and lithium rich terrain.
Chief Executive Vincent Mascolo said: "We are pleased to have four licenses granted in Cote d'Ivoire, which will allow us to accelerate exploration across our gold and lithium portfolios in the country."
"We are securing the necessary permits to commence an airborne magnetics survey across the Vavoua gold portfolio in the west of the country and adjacent to a 700,000 ounces (JORC compliant) gold resource held by an unrelated party."
"At the Kineta gold portfolio in the north-east of the country, the addition of the Marahui license is significant as we continue to consolidate our position across this prospective gold bearing structure. The extensive knowledge gained from our Ghana lithium portolfio will greatly assist in the rapid and cost effective lithium exploration in Cote d'Ivoire," Mascolo added.
Shares in IronRidge were down 1.9% Wednesday afternoon at 30.40 pence each.
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