15th Jan 2020 10:37
(Alliance News) - Shares rose in IronRidge Resources Ltd on Wednesday as it reported multiple high-grade and broad gold intersections from assay results for the Zaranou gold project in Cote d'Ivoire.
Shares in the Brisbane-based minerals exploration firm were 13% higher at 12.02 pence on Wednesday in London.
Aircore drill intersections from the programme include 22 metres at 3.39 grams per tonne of gold, from 8 metres, including 4 metres at 13.55 grams per tonne and another 4 metres at 3.96 grams per tonne.
All drill intersections are open along strike and down-dip, and either replicate or improve on previously announced channel and rock-chip sampling results within the high-priority eight kilometres long target zone.
The maiden exploration drill programme for Zaranou has now been completed for a total of 7,448 meters of aircore drilling in 151 holes and 1,593 metres of reverse circulation drilling in ten holes.
Looking ahead, IronRidge said it is awaiting results from the remaining aircore traverses and deeper reverse circulation holes. Once received, the company will plan follow-up exploration and drill programmes.
"Assay results received to date are exceptional for a first-pass exploration drill programme and indicate potential for a significant gold discovery, notwithstanding that only such a small portion of the large target footprint has been drill tested to date," said Chief Operating Officer Len Kolff.
"Achieving the broad and high-grade gold intersections returned to date as part of a first pass exploration drill programme is a significant result and demonstrates the exploration potential of the Zaranou gold project," Kolff added.
By Dayo Laniyan; [email protected]
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