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IronRidge Resources soars as it adds “exceptional” results to high grade gold programme at Zaranou

Chief executive Len Kolf noted that the extremely high-grade results add to the significant mineralised zones being defined by ongoing drilling at the Côte d'Ivoire project

IronRidge Resources Ltd - IronRidge Resources soars as it adds “exceptional” results to high grade gold programme at Zaranou project
Exceptional results, exceptionally timed as gold rises above US$2,000 per ounce

IronRidge Resources Ltd (LON:IRR) soared higher on Wednesday as the group described as exceptional the latest gold exploration results from the Zaranou project in Côte d'Ivoire, West Africa, with some grades as high as 1,075 grams per tonne (g/t).

The set of results, from the Ebilassokro and Ehuasso targets, are the latest in a series of strong drill results and contain the highest grades to date.

READ: IronRidge’s Zaranou yields yet more high-grade gold

“Exceptional” results include 5 metres in the Ebilassokro measuring 270.5 g/t gold, with 1 metre (m) at 1,075 g/t, while another hole saw 24m at 13.6 g/t including 4m with 76.2 g/t at the Ehuasso target. Other holes encountered further high grade and visible gold.

Phase 2 AC drilling has now been completed at the project, with some 20,312m drilled across 404 holes. RC drilling, meanwhile, continues.

"We are delighted that the ongoing drilling programme at the Ehuasso and Ebilassokro targets continues to define significant mineralised zones in the AC drilling and targeted deeper RC holes,” Len Kolf, IronRidge chief executive said in a statement.

"Occurring at 4m depth downhole and relatively close to surface, the risk of contamination from transported material is recognised, however, geological logging of drill cuttings indicates the mineralisation occurs within quartz vein material, within a broader structurally defined soil anomaly, representing a high-priority target for follow-up.” 

“At the Ehuasso target, the results confirm the visible gold observed in hole ZARC0013 with an overall intercept of 24m at 13.6g/t from 136m depth downhole, which includes a higher-grade portion of 4m at 76.2g/t.

"These results are significant as they confirm high-grade mineralisation depth continuity below previously reported high-grade intersections in hole ZARC0009; with mineralisation now open from surface to a vertical depth of 125m," he added.

In Wednesday’s early deals, IronRidge shares soared around 19% higher to change hands at 19p.

Quick facts: IronRidge Resources Ltd

Price: 13.689 GBX

Market: AIM
Market Cap: £56.37 m

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