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IronRidge announces new Zaranou Gold drilling results

Published by
Global Mining Review,


IronRidge Resources Ltd, an African focused minerals exploration company, has announced multiple high-grade drill intersections and the confirmation of new gold targets at the Zaranou Project in Côte d'Ivoire, West Africa. The license borders with Ghana and is along strike from significant operating gold (Au) mines including Chirano (5 million oz Au), Bibiani (5.5 million oz Au) and Ahafo (17 million oz Au).

Highlights

  • Multiple high-grade reverse circulation (RC) and aircore (AC) drilling results received for 4 composites over the Ehuasso target and new Coffee Bean, Mbasso and Yakassé targets.
  • Significant mineralisation potential confirmed in multiple targets along the 47 km striking structure, including highlights at greater than 18 g-m (grade g/t multiplied by interval length m) reported at a 0.1 g/t Au cut-off and maximum 4 m of internal dilution:
    • Ehuasso
      • ZARC0102: 16 m at 6.68 g/t Au from 100 m including 4 m at 10.3 g/t Au, 4 m at 10 g/t Au at 4 m at 6 g/t Au.
      • ZARC0101: 68 m at 1.4 g/t Au from 20 m including 4 m at 11.7 g/t Au and 4 m at 5.6 g/t Au.
      • ZARC0104: 64 m at 1.41 g/t Au from 100 m including 4 m at 1.6 g/t Au, 4 m at 4.4 g/t Au, 4 m at 3.5 g/t Au, 4 m at 5.5 g/t Au and 4 m at 2.2 g/t Au.
      • ZARC0099: 20 m at 2.13 g/t Au from 96 m including 4 m at 9.9 g/t Au.
      • ZARC0097: 4 m at 6.85 g/t Au from 60 m.
    • Coffee Bean
      • ZAAC0763: 8 m at 14.01 g/t Au from 4 including 4 m at 27.9 g/t Au.
      • ZAAC0757: 8 m at 9.32 g/t Au from 32 m including 4 m at 18.3 g/t Au.
      • ZAAC0682: 28 m at 1.85 g/t Au from 8 m including 4 m at 7.2 g/t Au and 4 m at 5.1 g/t Au.
      • ZAAC0676: 13 m at 3 g/t Au from 56 m including 4 m at 9.5 g/t Au.
    • Mbasso
      • ZAAC0904: 40 m at 0.9 g/t Au from 16 m including 4 m at 1.2 g/t Au, 4 m at 1.5 g/t Au and 4 m at 2.1 g/t Au.
      • ZAAC0842: 40 m at 0.69 g/t Au from surface including 4 m at 1.3 g/t Au, 4 m at 1.6 g/t Au and 4 m at 1.3 g/t Au.
      • ZAAC0818: 14 m at 1.31 g/t Au from 40 m including 4 m at 3 g/t Au.
    • Yakassé
      • ZARC0100: 28 m at 4.07 g/t Au from 124 m including 4 m at 2 g/t Au, 4 m at 3.4 g/t Au and 4 m at 21.2 g/t Au.
      • ZARC0098: 4 m at 2.69 g/t Au from 192 m.
      • ZARC0096: 24 m at 0.38 g/t Au from 100 m including 4 m at 1.2 g/t Au.
  • New intersections reported at Yakassé, Coffee Bean and Mbasso confirm mineralisation potential at the new target areas and along the 47 km striking Zaranou structure.
  • High-grade and broad low-grade drill intersections reported at depth at Ehuasso and Yakassé confirm continuity of mineralisation at depth.
  • 50 000 m AC and RC drilling programme ongoing and estimated to be completed by the end of January 2021.

Vincent Mascolo, CEO of IronRidge, said: "Ongoing results from the current drilling programme have confirmed significant mineralisation potential along the 47 km striking Zaranou structure.

"All newly-drilled targets across the south west of the license area, including very encouraging preliminary results from Yakassé, show significant promise with high-grade drilling results returned and continuity observed between sections.

"Our 'early ounces' strategy continues to target weathered oxide mineralisation, with initial observations suggesting it continues to average depths of 50 m and up to 90 m, which we believe is indicative of simple mining and processing at low operational and capital costs.

"With only 12 km of the 47 km of identified strike having been drill tested to date, an additional 8km strike of hard-rock artisanal workings and 27 km of soil anomalies remain untested, with the potential to deliver a pipeline of further discoveries along this considerable mineralised structure.

"AC and RC drilling is ongoing and expected to be completed by the end of January 2021. We look forward to updating shareholders as further results become available."

High-grade results within new target areas

Additional 4 m composite RC and AC results for the ongoing drilling programme at the Zaranou license have been received. Drilling has returned multiple high-grade and broad low-grade drill intersections at the Ehuasso target, in addition to first reported significant drill intersections at the new Coffee Bean, Mbasso and Yakassé targets. Approximately 40 000 m of the planned 50 000 m programme has been drilled to date after resumption of drilling post the Christmas/New Year shut-down.

All sampling was completed at the drill site and consisted of initial 4 m composites submitted for analysis, of which all composites greater than 0.1 g/t gold will be re-submitted for analysis at 1 m intervals from retained primary samples at the project site. ALS laboratory completed sample preparation in Côte d'Ivoire and sample analysis in Burkina Faso, with results passing internal and laboratory QA/QC protocols, providing confidence in reported results. All AC and RC drilling to date has been completed at -55° to -60° dip.

New drilling results reported herewith continue to confirm mineralisation potential at the Ehuasso target with both high-grade drill intersections at depth e.g., hole ZAAC0763: 16 m at 6.68 g/t Au from 100 m and broad low-grade mineralisation both near surface, e.g. hole ZARC0101: 68 m at 1.4 g/t Au from 2 m, and at depth, e.g. hole ZARC0104: 64 m at 1.41 g/t Au from 100 m.

In addition to ongoing success at the Ehuasso target, the first reported results for the current programme at the Mbasso and Coffee Bean targets have returned multiple drill intersections confirming continuity and grade along tested structures e.g., hole ZAAC0763: 8 m at 14.01 g/t Au from 4 m, hole ZAAC0757: 8 m at 9.32 g/t Au from 32 m and hole ZAAC0904: 40 m at 0.9 g/t Au from 16 m.

The Mbasso – Coffee Bean – Ehuasso targets cover a combined strike of 8 km, centralised over the robust 'Coffee Bean' magnetic anomaly (refer RNS of 11 November 2019), with high-grade drilling results to date following structures visible within the aeromagnetics data.

Preliminary drilling results at the Yakassé target have returned highly encouraging drill results, including a high-grade drill intersection of 28 m at 4.07 g/t Au from 124 m in hole ZARC0100. Drilling remains ongoing at this developing target.

Drilling programme

The current 50 000 m combined AC and RC drilling programme is progressing well with at the Ehuasso Main, Yakassé and M'Basso targets with approximately 40 000 m drilled to date. Drilling is targeted to be completed by the end of January 2021.

All target areas occur along a 47 km striking shear structure along the length of the Zaranou license with regional soils confirming prospectivity along the structure and key target areas, as well as previous drilling completed within zones of hard rock artisanal workings.

Read the article online at: https://www.globalminingreview.com/exploration-development/18012021/ironridge-announces-new-zaranou-gold-drilling-results/

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African mining news Gold mining news