(Alliance News) - IronRidge Resources Ltd on Monday said the final assay results from a first phase exploration programme at its Ivory Coast Zaranou gold project returned "multiple additional high-grade and broad gold intersections".
First phase exploration at Zaranou is now complete, with aircore and reverse circulation drill results of 6 metres at 6.44 grammes of gold per tonne from 132 metres, including 2 metres at 8.81 grammes per tonne and 2 metres at 9.18 grammes per tonne.
Drill intersections also featured 4 metres at 5.16 grammes per tonne of gold from 110 metres, including 2 metres at 9.43 grammes per tonne.
In hole ZARC0009, multiple reverse circulation drill intersections returned 2 metres at 3.35 grammes per tonne of gold from 38 metres and 6 metres at 3.81 grammes per tonne of gold, including 2 metres at 10.2 grammes per tonne.
All of the drill intersections are open along strike and define an 8 kilometre-lone high-priority target zone, IronRidge said.
Chief Operating Officer Len Kolff said: "The remaining assay results received continue to impress, especially given that they represent a first-pass exploration drill programme, demonstrating the potential for a significant gold discovery and further exploration potential within the Zaranou license.
"Only 8 [kilometres] of strike has been drilled to date, along very broad spaced [aircore and reverse circulation] traverses, which remain open along strike and at depth within a much larger 47km long highly prospective gold structural target corridor with coincident soil anomalies and artisanal workings."
Chair Neil Herbert added: "With over 47km of strike and early drilling demonstrating liberalization over 150m from surface with gold grades as high as 23[grammes per tonne] and still open at depth, this has the potential to be one of the most significant gold discoveries in West Africa."
Shares in IronRidge were up 1.0% at 11.62 pence in London on Monday afternoon.
The company's registered office is in Brisbane, Australia.
By Anna Farley; annafarley@alliancenews.com
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