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IronRidge reports drill target from historical data at Zaranou project

The company said the new target, called Yakassé, contains a “significant soil anomaly” that warranted follow up drilling

IronRidge Resources Ltd - IronRidge reports drill target from historical data at Zaranou project

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.

READ: IronRidge completes acquisition of highly prospective portfolio in Côte d'Ivoire

"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.

Quick facts: IronRidge Resources Ltd

Price: 15.75 GBX

AIM:IRR
Market: AIM
Market Cap: £64.57 m
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