(Alliance News) - IronRidge Resources Ltd said on Monday a "highly encouraging" magnetic anomaly has been discovered at the Zaranou gold license, Ivory Coast.
A 2.8 kilometre long by 800 metres wide magnetic anomaly was discovered within the license from a recently completed airborne geophysical magnetics survey.
A 6.5 kilometre drill programme and access planning is underway, with drilling targeted to commence next month.
"The discovery of the large 2.8km long distinct magnetic anomaly is highly encouraging as it occurs centrally within the 16km long zone of intensive hard-rock artisanal gold mining," said Chief Operating Officer Len Kolff.
"We are delighted with the discovery of the blind magnetic anomaly and we are currently planning a maiden 6,500m drill programme to test the mineralised structures using a combination of both air-core traverses and deeper targeted reverse circulation drill holes. This drill programme is expected to commence in December 2019, and we look forward to updating the market on our progress and drilling results," he added.
Shares in IronRidge were down 4.0% at 10.20 pence in London on Monday.
By Lucy Heming; lucyheming@alliancenews.com
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