TIDMIRR
RNS Number : 3566R
IronRidge Resources Limited
21 September 2017
21 September 2017
Multiple High-Grade Gold Intersections at Dorothe, Chad
Trenching and Soil Results Received
IronRidge Resources Limited (AIM: IRR, 'IronRidge' or the
'Company') is pleased to announce that encouraging trenching and
soil sampling results have been received for the Dorothe gold
project in Chad, Central Africa. The results demonstrate that
multiple high-grade gold intersections returned across fresh rock
trenches.
HIGHLIGHTS:
Ø Multiple high-grade gold intersections(*) returned in 'fresh
rock' trenches, including:
o 8m @ 4.73g/t gold
o 12m @ 2.87g/t gold
o 10m @ 2.98g/t gold
o 10m @ 2.05g/t gold
o 4m @ 4.67g/t gold
o 4m @ 4.61g/t gold
o 2m @ 8.9g/t gold
Ø Mineralisation open along strike within the Dorothe Main Vein
zone ('DMV') and open in all directions within the broader Dorothy
Artisanal Pitting zone ('DAP').
Ø Large untested areas of potential mineralisation concealed
below thin cover within the DAP.
Ø Potential scope for both high-grade, narrow mineralisation and
broad, large scale bulk mineable mineralisation.
Ø Three (3) significant gold anomalous zones defined in soil
sampling in the northern half of the license, highlighting
additional exploration upside.
(*) 0.2 g/t gold cut-off with maximum 2m of internal waste
Commenting on the Company's latest progress, Len Kolff,
IronRidge's Chief Geologist, said:
"These first pass, high-grade trenching results over significant
widths within the Dorothe Artisanal Pitting zone are significant
and demonstrate the mineralisation potential within the 3km x 1km
zone defined to date.
"At present, only one significant trench has been completed
through the Artisanal Pitting zone, with mineralisation open in all
directions.
"Trenching within the Dorothe Main Vein zone continues to
deliver high-grade intersections over 2m and up to 10m in width,
with lower grade intervals extending out to 14m widths;
demonstrating good continuity along this 1km striking vein swarm
that remains open along strike in both directions.
"Further exploration upside is evident in regional soil sampling
where three significant gold soil anomalies have been defined in
similar structural settings to the Dorothe prospect."
Dorothe Trenching Results
A total of 5,204m of trenching was completed at the Dorothe
target utilising a track mounted 30 tonne excavator for a total of
9 trenches; with the longest single trench (TR22) being 1.74km
long. The trenching programme was primarily designed to assess the
extent and surface grade of the large 3km x 1km artisanal pitting
zone, as well as to understand potential controls on mineralisation
therein.
Multiple high-grade gold intersections were returned from
trenching at Dorothe (Figure 1). Trenching confirmed high-grade
gold intervals both within the north-south striking Main Vein zone
('DMV', shown in yellow lines on Figure 1) and broader, north-east
striking Artisanal Pitting zone ('DAP', shown in grey areas on
Figure 1). Multiple additional <5 gram meter gold intersections
were returned throughout the DAP zone (shown as green squares in
Figure 1).
The significant number of gold intersections returned to date
highlight the exploration potential for the Dorothe prospect to
host both high-grade, narrow gold mineralisation and broad, large
scale bulk-mineable style mineralisation.
All trench intersections are reported in Table 1.
http://www.rns-pdf.londonstockexchange.com/rns/3566R_1-2017-9-20.pdf
Figure 1 | High-grade >5 gram meter Dorothe trenching results
(red text boxes >2g/t gold and white text boxes <2g/t gold);
large text boxes for 2017 results and small text boxes for 2014
trenching.
Dorothe Soil Sampling Results
The Dorothe soil sampling programme was designed to test the
northern extension of a structural corridor along the eastern flank
of a major north-west striking fault zone along which the Dorothe
project occurs and new artisanal mining sites have been discovered
further north. A total of 4,138 soil samples were collected on a
broad spaced 400m x 50m grid along the corridor.
Soil sampling results have identified 3 key target areas for
follow-up infill sampling; north strike extensions of the Dorothe
prospect over >1km, a 2km x 2km anomalous zone in the north-west
of the license area coincident with new artisanal workings and a
4km long north-east striking anomalous zone along a lithological
contact zone.
http://www.rns-pdf.londonstockexchange.com/rns/3566R_1-2017-9-20.pdf
Figure 2 | Regional soil sampling results and gold targets
identified respective to the Dorothe Prospect (over Landsat imagery
background)
Next Steps
The Company is finalising field programmes for the pending dry
season. Field teams are expected to mobilise within the coming
months. Field programmes at Dorothe will focus on infill trenching
over the DAP to define extensions of the high grade mineralisation
intersected to date as well as southern and northern extensions of
the DMV.
Infill soil sampling and mapping will be completed along the 3
target areas defined in soils to date as well as broader spaced
400m x 50m soils south of the Dorothe prospect in the southern half
of the license.
Trenching and soil sampling results are pending for the Echbara
license area.
The Board is very pleased with the progress that the Company has
made in 2017 and looks forward to keeping shareholders updated as
further news becomes available.
For any further information please contact:
IronRidge Resources Limited
Vincent Mascolo (Chief Tel: +61 7 3303
Executive Officer) 0610
Nicholas Mather (Executive Tel: +61 7 3303
Chairman) 0610
SP Angel Corporate Finance Tel: +44 (0)20
LLP 3470 0470
Nominated Adviser and
Broker
Jeff Keating
Caroline Rowe
Yellow Jersey PR Tel: +44 (0)
Charles Goodwin 7544 275882
Harriet Jackson
Katie Bairsto
Competent Person Statement:
Information in this report relating to the exploration results
is based on data reviewed by Mr Nicholas Mather (B.Sc. Hons Geol.),
the Executive Chairman of the Company. Mr Mather is a Fellow of the
Australasian Institute of Mining and Metallurgy who has in excess
of 25 years' experience in mineral exploration and is a Qualified
Person under the AIM Rules. Mr Mather consents to the inclusion of
the information in the form and context in which it appears.
Table 1: Trench intersections > 1 gram meter at 0.2g/t Au
cut-off with maximum 2m of internal waste
Trench_ID From To Interval Grade Grade Grade g/t Gram x
(m) (m) (m) g/t Au g/t Au Au meters
(0.2g/t (2g/t (2g/t cut
cut-off cut off off & no
& max & max waste)
2m waste) 2m waste)
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 4m
DOR_TR22 502 510 8 4.73 @ 9.3 37.86
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 8m 4m @ 6.27
DOR_TR22 962 974 12 2.87 @ 4.02 & 2m @ 2.78 34.40
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 4m
DOR_TR20 382 392 10 2.98 @ 6.49 29.84
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
@ 4.85
& 2m @
DOR_TR25 312 322 10 2.05 2.31 20.52
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR25 346 350 4 4.68 @ 7.81 18.70
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR22 1244 1248 4 4.62 @ 8.78 18.46
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 896 898 2 8.90 17.80
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 6m 2m @ 2.84
DOR_TR18 410 418 8 1.94 @ 2.49 & 2m @ 4.57 15.48
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR25 328 332 4 3.84 15.36
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR20 450 458 8 1.67 @ 4.47 13.34
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR18 122 132 10 1.19 11.94
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR17 320 326 6 1.95 11.72
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR18 42 56 14 0.74 10.30
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR22 910 920 10 1.02 @ 2.07 10.20
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 708 718 10 0.97 9.73
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR20 312 324 12 0.69 8.28
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR17 28 32 4 2.03 @ 2.92 8.10
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR20 412 414 2 3.70 7.40
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR18 620 624 4 1.83 @ 2.7 7.30
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR18 632 634 2 3.52 7.04
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 520 534 14 0.47 6.64
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR17 90 96 6 1.07 6.42
----------- ----- ----- --------- ----------- ----------- ------------- --------
incl 2m
DOR_TR20 466 472 6 0.91 @ 2.06 5.46
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR21 336 340 4 1.31 5.22
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR21 346 354 8 0.63 5.06
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 492 494 2 2.16 4.32
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 178 180 2 2.11 4.22
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 8 10 2 2.07 4.14
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR17 8 10 2 2.03 4.06
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR18 218 220 2 2.01 4.02
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR22 140 142 2 1.93 3.86
----------- ----- ----- --------- ----------- ----------- ------------- --------
DOR_TR21 308 320 12 0.32 3.82
----------- ----- ----- --------- ----------- ----------- ------------- --------
Table 1 (Cont): Trench intersections > 1 gram meter at 0.2g/t
Au cut-off with maximum 2m of internal waste
Trench_ID From To Interval Grade Grade Grade g/t Gram x
(m) (m) (m) g/t Au g/t Au Au meters
(0.2g/t (2g/t (2g/t cut
cut-off cut off off & no
& max & max waste)
2m waste) 2m waste)
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR21 136 138 2 1.90 3.80
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR22 176 178 2 1.88 3.76
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR17 270 278 8 0.41 3.24
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR22 30 66 6 0.53 3.16
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR19 266 270 4 0.79 3.14
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR18 116 118 2 1.56 3.12
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR21 66 76 10 0.30 3.00
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR22 28 32 4 0.74 2.94
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR18 438 448 10 0.28 2.84
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR24 38 40 2 1.28 2.56
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR17 0 4 4 0.63 2.52
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR18 466 468 2 1.23 2.46
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR22 1260 1264 4 0.60 2.40
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR20 362 372 10 0.22 2.18
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR17 368 370 2 1.00 2.00
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR20 552 554 2 0.90 1.80
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR21 298 300 2 0.88 1.76
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR23 104 108 4 0.44 1.74
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR21 46 48 2 0.80 1.60
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR20 148 154 6 0.26 1.54
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR24 44 46 2 0.75 1.50
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR18 138 140 2 0.72 1.44
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR20 60 62 2 0.71 1.42
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR22 1302 1304 2 0.71 1.42
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR22 760 762 2 0.67 1.34
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR20 182 184 2 0.64 1.28
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR20 10 14 4 0.31 1.22
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR18 318 320 2 0.60 1.20
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR19 200 202 2 0.59 1.18
----------- ----- ----- --------- ----------- ----------- ----------- --------
DOR_TR25 398 402 4 0.26 1.04
----------- ----- ----- --------- ----------- ----------- ----------- --------
Notes to Editors:
IronRidge Resources is an AIM listed mineral exploration company
with frontier assets in both Australia and West Africa, with two
province scale projects in Gabon, and promising and advanced
titanium and bauxite projects in Queensland Australia. IronRidge's
corporate strategy is to create and sustain shareholder value
through the discovery of world-class and globally demanded
commodities.
Australia
Monogorilby is prospective for province scale titanium and
bauxite with an initial maiden resource of 54.9MT of premium DSO
bauxite Monogorilby is located in central Queensland, within a
short trucking distance of the rail system leading north to the
Port of Bundaberg. It is also located within close proximity of the
active Queensland Rail network heading south towards the Port of
Brisbane.
May Queen is located in Central Queensland within IRRs wholly
owned Monogorilby license package and is highly prospective for
gold. Historic drilling completed during the 1980s intersected
multiple high-grade gold intervals including 2m @ 73.4 g/t Au
(including 1m at 145g/t), 4m @ 38.8g/t Au (at end of hole) and 3m @
18.9g/t Au, over an approximate 100m strike hosting numerous
parallel vein systems, open to the north-west and south-east.
Wholly owned Quaggy contains highly anomalous platinum,
palladium, nickel, cobalt and copper exploration targets and is
located in Central Queensland within a short trucking distance of
the dormant rail system to the Port of Bundaberg. It is also
located within close proximity of the active Queensland Rail
network heading south towards the Port of Brisbane.
Gabon
Tchibanga is located in south-western Gabon, in the Nyanga
Province, within 10-60km of the Atlantic coastline. This project
comprises two exploration licenses, Tchibanga and Tchibanga Nord,
which cover a combined area of 3,396km(2) and include over 90km of
prospective lithologies and the historic Mont Pele iron
occurrence.
Belinga Sud is Located in the north east of Gabon in the
Ogooue-Ivindo Province, approximately 400km east of the capital
city of Libreville. IRR's licence lies between the main Belinga
Iron Ore Deposit, believed to be one of the world's largest
untapped reserves of iron ore with an estimated 1bt of iron ore at
a grade >60% Fe, and the route of the Trans Gabonese railway,
which currently carries manganese ore and timber from Franceville
to the Port of Owendo in Libreville.
Chad
The Company entered into an agreement with Tekton Minerals Pte
Ltd of Singapore concerning its portfolio covering 1,000km(2) of
highly prospective gold and other mineral projects in Chad, Central
Africa. IronRidge acquired 100% of Tekton including its projects
and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and
Ade licenses, which host multiple, large scale gold projects.
Initial trenching results at Dorothe, including 14.12g/t Au over
4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant
gold mineralised quartz veining over a confirmed 1km strike at an
average of 2m and up to 5m true width across multiple stacked vein
zones over a 250m wide zone with new hard-rock artisanal workings
potentially extending strike to >3km.
Ghana
The Company entered into conditional joint venture arrangements
with Obotan Minerals Limited, Merlink Resources Limited and Barari
Developments Limited of Ghana, West Africa, securing the first
access rights to acquire the historical Egyasimanku Hill spodumene
rich lithium resource, estimated to be in the order of 1.48Mt at
1.67% Li(2) O and surrounding tenements. The portfolio covers some
314km(2) with a further identified 20km strike of pegmatite vein
swarms, tenure package is also highly prospective for tin,
tantalum, niobium and gold which occur as accessory minerals within
the pegmatites and host formations.
Ivory Coast
The Company entered into conditional joint venture arrangements
in Ivory Coast, West Africa; securing access rights to highly
prospective gold mineralised structures and pegmatite occurrences
covering a combined 3,110km(2) and 400km(2) area respectively. The
projects are well located within access of an extensive bitumen
road network and along strike from multi-million ounce gold
projects and mines.
Corporate
IronRidge made its AIM debut in February 2015, successfully
securing strategic alliances with three international companies;
Assore Limited of South Africa, Sumitomo Corporation of Japan and
DGR Global Limited of Australia. Assore is a high- grade iron,
chrome and manganese mining specialist. Sumitomo Corporation is a
global resources, mining marketing and trading conglomerate. DGR
Global is a project generation and exploration specialist.
This information is provided by RNS
The company news service from the London Stock Exchange
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