IronRidge Resources - Ironridge Resumes Drilling at Zaranou Gold Project
Commencement of Drilling
o Second phase drill programme commenced; approximately 8,000m Aircore ('AC') and 1,000m Reverse Circulation ('RC') drilling planned.
o Drilling underway along strike from previously reported high-grade drill intersections over an initial 3km long by 800m wide area, including (refer RNS of
§ 6m @ 15.11g/t gold from 26m
§ 22m @ 3.39g/t gold from 8m
§ 6m @ 6.72g/t gold from surface
§ 6m @ 3.81g/t gold from 52m
§ 2m @ 7.11g/t gold from 36m
§ 14m @ 0.66g/t gold from 128m
§ 18m @ 0.33g/t gold from 32m
o New drilling to step out 160m from previously reported drill traverses, and to test mineralisation continuity over an initial 3km strike target zone, within the 8km gold corridor tested in the first phase programme.
o Drilling to also test along strike from mineralisation intersected in hole ZARC009 from surface to end of hole including (refer RNS of
§ 2m @ 3.35g/t gold from 38m
§ 6m @ 3.81g/t gold from 52m, including 2m @ 10.2g/t
§ 2m @ 4.72g/t gold from 98m
§ 8m @ 0.74g/t gold from 104m, including 2m @ 2.13g/t
§ 2m @ 4.6g/t gold from 116m
§ 14m @ 0.66g/t gold from 128m, including 2m @ 2.72g/t
§ Link to original pre-drilling visualisation of drill hole ZARC009.
o Drill programme planned to take approximately one month; COVID-19 site management plan implemented to manage the health and safety of teams and the community within which
o Field operations at the
Any Figures and Tables referred to in this release can be viewed in the PDF version available via this link:
Commenting on the Company's latest progress,
"We are excited to commence our second phase drill programme at Zaranou, and to build on the strong results released from the first phase drill programme.
"The scale of the Zaranou system is impressive, with hard-rock artisanal workings mapped over a 16km strike and soil anomalism defining over 47km strike of prospective structure.
"To date we have only drill tested 8km strike in wide-spaced AC traverses and RC holes; now we will focus on a 3km zone within the area to test mineralisation continuity.
"After a short period of operations shut-down, we have carefully reviewed in-country operational procedures, discussed operational impacts with key stakeholders and communities, and implemented a COVID-19 management plan allowing us to safely resume work.
"The Board is delighted with the progress that the Company has made in 2020 to date and looks forward to keeping shareholders updated as further news becomes available."
Commencement of Second Phase Drill Programme
Drilling has commenced for the second phase drill programme at the
Access and drill pads have been constructed and drilling is now underway for a total planned programme of 8,000m of AC and 1,000m of RC expected to take approximately 1 month on a single shift basis.
Geodrill will complete the programme under the current drilling for equity programme as detailed in the announcement of
Drilling will follow-up multiple high-grade gold intercepts from the first phase programme, including 6m @ 15.11g/t gold from 26m, 22m @ 3.39g/t gold from 8m, 6m @ 6.72g/t gold from surface and 6m @ 3.81g/t gold from 52m, over a 3km strike within the north-east of the tested area (refer Figure 2 and RNS of
Due to the large area of significant first phase drill intersections over an 8km strike, a decision was made to focus the second phase drilling programme within the highest priority target area based on drill intersections to date; stepping out from the known to the unknown at 160m line spacing.
The current drill programme will focus on a 3km long by 800m wide area which sits within a larger 16km strike of hard-rock artisanal workings within an even longer 47km strike of gold in soil anomalism (refer Figure 2).
The programme is designed to step out on 160m spaced "heel to toe" AC and RC drill traverses from the previously reported intersections, with the aim of testing mineralisation continuity for multiple gold trends over a 3km strike. Twelve (12) drill traverses are planned to test mineralisation continuity for eight (8) target zones along strike from previously reported intersections (refer Figure 3).
The second phase programme will assist with the expected future definition of the mineralised zones to facilitate a potential maiden JORC compliant mineral resource estimate in due course.
COVID-19 Measures and Next Steps
After a temporary operations shut-down, giving field staff the opportunity to return home to assist their families in preparing for COVID-19, field operations at the
All national staff has been retained during this period and field work resumed at Zaranou; providing the strongest support to staff and indirect community support. Being the highest priority project, field work will focus on the Zaranou license until the onset of the wet season towards the end of May after which teams will return home.
The drill programme is planned to take approximately one month and end prior to the onset of the wet season. Initial results are expected at the end of Q2 2020, pending any unforeseen delays due to the COVID-19 pandemic.
Pending results of the second phase programme and demonstrating mineralisation continuity at 160m spacing, the next step is to infill mineralised trends at 80m line spacing and commence drill testing other high-priority exploration targets.
Infill soil sampling to 400m line spacing has been completed along the majority of the 396km2 license surface area with final results pending.
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For any further information please contact:
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Tel: +44 (0)20 3004 9512
Competent Person Statement
Information in this report relating to the exploration results is based on data reviewed by Mr
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This information is provided by RNS, the news service of the
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