RNS1 Jun 2020 09:07
HIGHLIGHTS:
Ø Today's statement is of significance as the anomalies are robust and occur along strike from a 16km zone of hard-rock artisanal workings with recently announced high-grade aircore ('AC') and reverse circulation ('RC') drilling results, including 6m @ 15.11g/t and 22m @ 3.39g/t gold and zones of hard-rock artisanal workings over a 16km strike.
Ø Seven kilometre-scale gold soil anomalies defined over a 47km strike and further enhanced with infill soil sampling on a 400m x 50m grid at the Zaranou Gold Project.
Ø Individual soil anomalies from 2.5km up to 8km long defined at >50ppb, with individual results up to 6g/t gold.
Ø Soil anomalies and hard-rock artisanal mining zones now defined over a 47km striking gold corridor; regional shear zone structure with significant scale potential.
Ø Colonial era mine adit discovered within the central portion of the license area within area of current drilling.
Ø Multiple historical drill hole collars discovered in the south-west of the license area and coincident with a high-priority soil anomaly on the contact of the Yakasse granite body.
Ø Anomalies are along strike of recently announced high-grade AC and RC drilling results, including 6m @ 15.11g/t and 22m @ 3.39g/t gold and zones of hard-rock artisanal workings over a 16km strike.
Ø In light of global macro-economic uncertainty, the Company reports that it remains in a strong financial position with US$6.2 million cash in bank and in hand.
Commenting on the Company's latest progress, Len Kolff, Chief Operating Officer of IronRidge, said:
"Infill soil sampling on a 400m x 50m grid has further enhanced and reinforced multiple large-scale soil anomalies along the Zaranou structural corridor.
"Seven coherent soil anomalies defined at >50ppb and with results up to 6g/t gold have been defined between 2.5km and up to 8km long within a broader 47km striking shear zone, including 16km of hard-rock artisanal workings and high-grade drilling intersections.
"This is significant as the anomalies are robust and occur along strike from a 16km zone of hard-rock artisanal workings with recently announced drilling results, including 6m @ 15.11g/t, 22m @ 3.39g/t and 6m @ 6.44g/t gold, indicating the scale potential of the mineralised system.
"Furthermore, field teams have located over 60 historic drill hole collars, predominantly within in the south-western margin of the license area within a favourable structural setting and coincident with one of our high-priority soil anomalies.
"A colonial era mine adit and associated infrastructure has been discovered within the central portion of the license, within the area of drilling currently underway; providing further confidence in the mineralisation potential of the project.
"The second phase drilling programme is progressing well with over 5,000m of an 8,000m planned AC programme drilled to date in 100 holes and over 1,000m of planned RC remaining."
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