IRR.L Share News (IRR)

(Sharecast News) - Africa-focussed minerals exploration company IronRidge Resources announced positive results of an induced polarisation (IP) ground geophysics survey on Thursday, completed over the 200 square kilometre Dorothe Gold Project, about 180 kilometres south-east of Abeché in eastern Chad.
The AIM-traded firm said the ground-based induced polarisation surveys, including gradient array and dipole-dipole, were completed by Terratec Geophysical Services over the Dorothe prospect.

Multiple coincident resistivity and chargeability anomalies were defined, that coincided with the high-grade gold trenching anomalies, which the board said were interpreted to be associated with quartz veining or silica alteration - a typical host for gold mineralisation, and possibly disseminated sulphides, respectively.

The highest priority geophysical anomaly was associated with the main vein zone, being a one kilometre long low resistivity mineralised vein zone with coincident chargeability anomaly dipping steeply to the east.

Additional flat-lying coincident resistivity anomalies, with weaker chargeability anomalies associated with shallow west dipping sheeted vein systems, was also reported.

The company said "positive" meetings had been held with Chad's new mining and finance ministers as well - Mahamat Hamid Koua and Tahir Hamid Nguilin.

"We are pleased with the results of the IP survey over the Dorothe gold project with a coincident one kilometre long low resistivity and chargeability anomaly defined over the Dorothe Main Vein target," said IronRidge chief executive officer Vincent Mascolo.

"Results have confirmed and enhanced our geological understanding of the main vein zone target, with the geophysical interpretation providing greater confidence in target depth continuation and dip direction.

"The coincident resistivity and chargeability anomalies broadly occur along gold mineralised targets within trenching intervals; providing further confidence in gold targets to date and their overall structural settings."

Mascolo added that the firm had a positive meeting with Chad's new mining and finance ministers this week.

"We continue to have a solid working relationship with the Chadian government and are working closely with them to progress the project and future work programmes which we will update the market on in due course."