IronRidge Resources (DGR 26%), page-82

Make no mistake, one of these 11 Provinces will be IronRidge's Alpala.

Personally, I believe we will have at least 3 tier 1 assets and here's my reasoning:

1. Chad, Dorothe / Kalaka / Nabagay licences. This is one very big area and IronRidge are the ONLY gold exploration company in Chad (its mainly oil) which means that they have picked up some unchallenged gold licences. But why here? Well, this entire area is full of artisanal mining sites. Its so big that they keep discovering new artisanal mining sites within their existing licences (where they've been exploring for 5 years!). Artisanal mining is a Geologist's dream. Its as good as it gets. If locals are already digging it out of the ground, it's already proven. What the geology actually tells us is that it's at depth too. The artisanals are using basic hand tools and can only dig to about 20m before they hit hard rock. The IRGS geology (magma flows push gold from deep within the earth's crust) is possibly hundreds of metres deep. And with a main Dorothe area of 3km x 1km it rivals the biggest open pit mines in the world (that's Muruntau). If the drill shows its 200m+ then it's going to be nothing short of spectacular. Multi-billion dollar spectacular.

2. Ghana, Mankessim / Saltpond / Cape Coast licences. Just a small corner of our total Ghana lithium licences but very important. Its where the company first decided to drill one of the many pegmatites (Ewoyaa). But why is this important? Its important because there are literally hundreds of lithium explorers worldwide. They are everywhere. But very few have anything substantial and more importantly, expandable. When we get a resource from Ewoyaa and its fair to middling, this is where scale kicks in. Every other explorer is done. That's it. That's all you've got. But not IronRidge, there's another 30 pegmatites left to drill. Upside. So it doesn't matter if Ewoyaa doesn't hit the high notes, its all about the bigger picture here. A bit like Pilgangoora which is where I'm pitching my comparison. Except that Ewoyaa has the best intercepts anywhere outside of Manono (from what I've found). 128m is magnificent. With good grades too. And if that's representative of local geology we're in for a real treat. Another Pilgangoora, maybe? Another billion-dollar asset?

3. Gabon, Tchibanga, Iron Ore. Ignoring the other significant lithium licences and one of the largest gold tenures in Cote D'Ivoire, I'm going slightly controversial. Unloved Iron Ore is why IronRidge has Assore and Sumitomo as cornerstone investors. Its why they've continued to finance the company. But why? Well, the Tchibanga resource is truly massive. It's a giant. SRK did some exploration work many years ago and they released a resource estimate based on less than 1% of the area. I've done the math and this is a lot of iron ore. When prices recover, IronRidge is sitting on something very very special. Whilst we're waiting for iron ore prices, the gold and lithium could do very nicely!