IronRidge Resources (AIM:IRR) Commencement of works update, Chad, Central Africa

IronRidge Resources Limited (AIM: IRR, ‘IronRidge’ or the ‘Company’) is pleased to announce commencement of the 2017/2018 field programme at the Company’s wholly-owned Dorothe Project in Chad, Central Africa. A 30 tonne excavator was mobilised to site on 14th November and is expected to arrive on site this week with trenching expected to continue until Q1, 2018.

The aim of the Dorothe trenching programme is to define grade, width and strike continuity of surface mineralised zones intersected to date within the Dorothe project over a 1.8km x 1km area at 200m trench spacing. Results from the trenching programmes will assist in designing a maiden drill programme.

 

HIGHLIGHTS:

Ø New artisanal workings expose additional mineralised zones at Dorothe

Ø Excavator mobilised from N’Djamena for the 8km trenching programme at Dorothe

Ø Trenching to test strike continuity from previous trenching results and for possible extensions concealed below recent cover sediments

Ø Field teams at site commencing regional soil sampling programme at Dorothe

Ø Regional infill soil sampling planned at Echbara

Ø Aeromagnetics survey and detailed structural mapping planned at the Dorothe prospect and Am Ouchar prospect  

Reference to figures and tables relate to the version of this release on the Company’s website (www.ironridgeresources.com.au) or visible in PDF format by clicking the link below:

http://www.rns-pdf.londonstockexchange.com/rns/2947X_-2017-11-23.pdf 

Commenting on the Company’s latest progress, Vincent Mascolo, Chief Executive Officer of IronRidge, said:

“We are excited to commence the 2017/2018 field programme with trenching at Dorothe. The aim of this season’s field programme is to complete an extensive trenching work at approximately 200m infill line spacing, over an approximate 1.8km x 1km area within the Dorothe Prospect. 

“Regional soils and mapping programmes over the portfolio, as well as detailed structural mapping at Dorothe and Am Ouchar, will help us to prioritise prospects as we move towards maiden drill programmes. 

Dorothe represents an exciting, high-grade gold target with significant scale potential. It is one of multiple gold targets within the Company’s Chad portfolio.”

Project Update

Field teams have mobilised to site to commence regional soils and mapping programmes across the Dorothe and Echbara licenses to dovetail into the previous season’s soil traverses. This will provide full coverage across both licenses at 800m x 50m spaced sampling and identify any new artisanal workings.

An excavator has been mobilised from N’Djamena to the Dorothe camp and an 8km infill and extension trenching programme planned over the Dorothe Prospect. The trenching is designed to test for extensions and strike continuity from previous season’s trench intersections (announced 21 September 2017) within the Dorothe Artisanal Pitting Zone (DAPZ) as well as testing below a large area of sediment cover potentially concealing mineralisation below. Trenching will also test for strike extensions of the Dorothe Main Vein zone (DMV) southwards, where artisanal workings occur approximately 1km south of the Dorothe prospect (see figure 1).

During the intervening wet season shut down, artisanal miners have identified new mineralised zones within the Dorothe prospect, and opened new workings over 25m strike and up to 10m vertical depth. The new workings coincide with reported intersections in previous trenching. Surface mineralised samples are rich in galena and secondary copper minerals.

The Board is pleased with the progress that the Company has made in 2017 and looks forward to keeping shareholders updated as further news becomes available.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.



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