IronRidge Resources Limited Issue of Equity (2680S)
29 September 2017 - 9:13PM
UK Regulatory
TIDMIRR
RNS Number : 2680S
IronRidge Resources Limited
29 September 2017
29 September 2017
IronRidge Resources Limited
(AIM: IRR)
Issue of Equity
The Board of IronRidge Resources Limited (IronRidge or the
Company) wishes to advise of the allotment and issue of a combined
total of 2,000,000 unlisted options to two key employees (or their
nominees).
The options have a strike price of 60pence, a vesting period of
18 months, and expire on 29 September 2019.
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 Tel: +44 (0)
Charles Goodwin 7544 275882
Harriet Jackson
Katie Bairsto
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 of 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
In 2016, 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. In September 2017, 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
END
IOELLFLLAFIAFID
(END) Dow Jones Newswires
September 29, 2017 07:13 ET (11:13 GMT)
Atlantic Lithium (LSE:ALL)
Historical Stock Chart
From Apr 2024 to May 2024
Atlantic Lithium (LSE:ALL)
Historical Stock Chart
From May 2023 to May 2024