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IronRidge Resources Ltd: Building on initial drill programme success at the Zaranou Gold Project

Proactive's mining analyst, Dr Ryan D. Long, catches up with IronRidge Resources chief executive, Vincent Mascolo. The pair discuss the Zaranou Gold Project, in the Ivory Coast, where the company is looking to build on its initial drill programme success.

IronRidge Resources Ltd -

IronRidge Resources Linited’s (LON:IRR) hugely successful maiden drill programme at the Zaranou Gold Project demonstrated the company has a gold project of significant scale with high-grade assay results over significant intercepts. The company has now started a follow-up drill programme at the project to build on the exciting results from the first round of drilling.

Vincent has over 25-years’ experience as a mining engineer and has held directorships for various public companies over the past fourteen years and is currently a non-executive director of ASX-listed resource generation company, DGR Global Limited (ASX:DGR).

IronRidge owns, and is earning into a number of licences and licence applications prospective for gold, which cover an area of 3,584km² throughout the Ivory Coast (Figure 1). The Zaranou Gold Project, is located in the southeast of the country, near the border with Ghana, and covers an area of 400km².

Figure 1: The Location of IronRidge Resources Ivory Coast Projects

Source: IronRidge Resources

The maiden drill programme at Zaranou was completed in January 2020. It consisted of 151 drill holes (7,448m) of air-core drilling and 10 reverse circulation holes (1,593m), in seven drill traverses (Figure 2). The drill programme demonstrated the presence of widespread gold mineralisation associated with a northeast-trending structure.

Figure 2: Results of the Maiden Drill Programme at the Zaranou Gold Project

Source: IronRidge Resources

Assay results from the maiden drill programme returned large intercepts of high-grade gold mineralisation, including: 6m at a grade of 15.11 g/t Au from 26m; 6m at a grade of 6.72g/t Au from surface; 6m at a grade of 6.44g/t Au from 132m; and 6m at a grade of 3.81g/t Au from 52m (Figure 2).

IronRidge has wasted no time in following up on these exciting drill results, with a second drill programme commencing in April this year. This programme is expected to include 8,000m aircore drilling and 1,000m Reverse Circulation drilling. This current round is a step-out drill programme building on the previous results, and will focus on a 3km area within the 8km target zone. The programme is expected to take around one month to complete, even with the COVID-19 outbreak, with assay results to follow shortly after.

IronRidge has a sizable target at Zaranou, with gold-in-soil anomalies covering a strike of 47km (Figure 3), within this area is a 16km long zone of artisanal workings focused on gold mineralisation. While IronRidge focused its maiden exploration programme at the project on a 8km long and 1.2km wide target zone and its second drill programme is focused on a 3km zone, the potential scale of Zaranou is much larger.

Figure 3: Scale of Gold Targets at the Zaranou Project

Source: IronRidge Resources

Quick facts: IronRidge Resources Ltd

Price: 8.625 GBX

AIM:IRR
Market: AIM
Market Cap: £33.26 m
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IronRidge Resources Limited

IronRidge Resources Limited is an AIM listed (since February 2015) greenfield exploration company which was founded by an Australian listed company, DGR Global Limited who remain a key...

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