LONDON (Alliance News) - IronRidge Resources Ltd said Tuesday it has been granted an exploration licence for its Zaranou gold project in Ivory Coast.
IronRidge Resources has also agreed to a two-month extension to the exclusive due diligence period at the licence.
"We are very pleased that the Zaranou gold project exploration licence has been granted ahead of schedule. The extension of due diligence allows the vendor additional time to complete in country administrative processes, which have taken longer than anticipated," said Chief Executive & Managing Director Vincent Mascolo.
"We are working closely with the vendors in preparation for the commencement of exploration programmes in the coming months," Mascolo added.
In February, IronRidge Resources secured the rights to Zaranou, via an earn-in to the 397 square kilometre gold project, around 200 kilometres north-east of the Ivory Coast capital Abidjan.
IronRidge secured the deal with GeoServices Cote d'Ivoire SA and Atlas Resources SARL. IronRidge will take up to 100% through staged earn-in arrangements.
Shares in IronRidge Resources were untraded Tuesday at 17.02 pence each.
