IronRidge Resources Limited (LON:IRR) said it has defined a drill ready target at the Zaranou gold license in Côte d'Ivoire from recently secured historical data, while the company has also enlarged a second phase drilling programme over the Ehuasso and Ebilassokro targets.
The AIM-listed company said the historical data had confirmed the new target, called Yakassé, as a “significant soil anomaly” that warranted follow-up drilling which is planned to begin either on completion of the current drill programme or after the wet season.
"We are pleased to announce that the historical data we have secured has confirmed Yakassé as a significant target for follow-up drilling with multiple high-grade intervals reported”, IronRidge's chief operating officer Len Kolff said in a statement.
Meanwhile, IronRidge said drilling at Ehuasso has been enlarged along a 160 metre (m) traverse spaced grid pattern from a planned 9,000m of drilling, and that an additional 6,000m of reconnaissance of drilling was underway at Ebilassokro to test a “large and coherent gold in soil anomaly” and enhance the exploration pipeline along the Zaranou shear structure.
"The significant increase in meterage to the second phase programme … is justified given the multiple, large scale targets defined along the Zaranou shear zone”, Kolff said.
Shares in IronRidge rose 2.3% to 11p in early deals on Thursday.