18 Oct 2021 10:58
18 October 2021
IronRidge Resources Limited
Change in ultimate beneficial holder of shares (Assore)
IronRidge Resources Limited (AIM: IRR, "IronRidge" or the "Company") announces that it has been informed by Assore International Holdings Limited ("AIH"), a Substantial Shareholder in the Company with 120,016,667 ordinary shares (the "Assore Shares"), that, as a result of an internal Assore group restructuring, AIH is now a wholly owned subsidiary of Assore Holdings Proprietary Limited ("Assore Holdings") rather than Assore Limited (now also a wholly owned subsidiary of Assore Holdings) and thus the ultimate beneficial holder of the Assore Shares is Assore Holdings.
For any further information, please contact:
IronRidge Resources Limited Vincent Mascolo (Chief Executive Officer) Amanda Harsas (Company Secretary) www.ironridgeresources.com.au | Tel: +61 2 8072 0640 | ||
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat
| Tel: +44 (0)20 3470 0470 | ||
Canaccord Genuity Limited Joint Company Broker Raj Khatri Joe Brunner James Asensio |
Tel: +44 (0) 20 7523 4500
| ||
Liberum Capital Limited Joint Company Broker Scott Matheson Edward Thomas Kane Collings |
Tel: +44 (0) 20 3100 2000
| ||
SI Capital Limited Joint Company Broker Nick Emerson Jon Levinson |
Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 | ||
|
| ||
Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto
| Tel: +44 (0)20 3004 9512 |
Notes to Editors:
About IronRidge
www.ironridgeresources.com.au
IronRidge Resources is an AIM-listed, Africa focused minerals exploration company with a significant lithium pegmatite discovery in Ghana, extensive gold portfolios in Côte d'Ivoire and a potential new gold province discovery in Chad. As announced on 1 June 2021, IronRidge intends to demerge its suite of gold assets into a separate listed entity. As announced on 31 August 2021, Piedmont Lithium to fully fund the Ewoyaa lithium project in Ghana.
Ghana
The Cape Coast Lithium portfolio covers some 684km2 and includes the newly discovered Ewoyaa Lithium Project with a maiden Mineral Resource estimate of 14.5Mt at 1.31% Li2O in the inferred and indicated category including 4.5Mt at 1.39% Li2O in the indicated category (reported in accordance with the JORC Code). The Company entered into earn-in arrangements with Obotan Minerals Limited, Merlink Resources Limited, Barari Developments Limited and Joy Transporters Limited of Ghana, West Africa, securing the first access rights to acquire the historical Egyasimanku Hill spodumene rich lithium deposit, estimated to be in the order of 1.48Mt at 1.67% Li2O and surrounding tenements. The tenure package is also prospective for tin, tantalum, niobium, caesium and gold, which occur as accessory minerals within the pegmatites and host formations.
Côte d'Ivoire
The Company entered into conditional earn-in arrangements in Côte d'Ivoire, West Africa; securing access rights to highly prospective gold mineralised structures and pegmatite occurrences covering a combined 3,982km2 and 774km2 area respectively. The projects are well located within access of an extensive bitumen road network and along strike from multi-million-ounce gold projects and mines. The Company's most advanced project is the Zaranou gold project which includes high-grade gold drilling intersections along 8km strike including 6m at 6.44g/t gold from 132m, 6m at 15.11g/t gold from 26m, 4m at 5.16g/t gold from 110m and 22m at 3.39g/t gold from 8m within a broader 47km long gold anomalous structure.
Chad
The Company's Tekton Minerals Pte Ltd of Singapore holds an extensive portfolio covering 746km2 of highly prospective gold and other mineral projects in Chad, Central Africa. IronRidge acquired 100% of Tekton including its projects and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and Kalaka licenses, which host multiple, large scale gold projects. Trenching results at Dorothe, including 84m at 1.66g/t Au (including 6m at 5.49g/t & 8m at 6.23g/t), 4m at 18.77g/t Au (including 2m at 36.2g/t), 32m at 2.02g/t Au (including 18m at 3.22g/t), 24m at 2.53g/t Au (including 6m at 4.1g/t (including 2m at 6.2g/t) and 2m at 6.14g/t), 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant gold mineralised quartz veining zones over a 3km by 1km area including the steep dipping 'Main Vein' and shallow dipping 'Sheeted Vein' zones.
Corporate
IronRidge made its AIM debut in February 2015, successfully securing strategic alliances with three international companies; Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia. Assore is a high-grade iron, chrome and manganese mining specialist. Sumitomo Corporation is a global resources, mining marketing and trading conglomerate. DGR Global is a project generation and exploration specialist.