Multiple High-Grade Gold Intersections at Dorothe, Chad
Trenching and Soil Results Received
IronRidge Resources Limited (AIM: IRR, 'IronRidge' or the 'Company') is pleased to announce that encouraging trenching and soil sampling results have been received for the Dorothe gold project in Chad, Central Africa. The results demonstrate that multiple high-grade gold intersections returned across fresh rock trenches.
HIGHLIGHTS:
Ø Multiple high-grade gold intersections* returned in 'fresh rock' trenches, including:
o 8m @ 4.73g/t gold
o 12m @ 2.87g/t gold
o 10m @ 2.98g/t gold
o 10m @ 2.05g/t gold
o 4m @ 4.67g/t gold
o 4m @ 4.61g/t gold
o 2m @ 8.9g/t gold
Ø Mineralisation open along strike within the Dorothe Main Vein zone ('DMV') and open in all directions within the broader Dorothy Artisanal Pitting zone ('DAP').
Ø Large untested areas of potential mineralisation concealed below thin cover within the DAP.
Ø Potential scope for both high-grade, narrow mineralisation and broad, large scale bulk mineable mineralisation.
Ø Three (3) significant gold anomalous zones defined in soil sampling in the northern half of the license, highlighting additional exploration upside. *0.2 g/t gold cut-off with maximum 2m of internal waste
Commenting on the Company's latest progress, Len Kolff, IronRidge's Chief Geologist, said:
"These first pass, high-grade trenching results over significant widths within the Dorothe Artisanal Pitting zone are significant and demonstrate the mineralisation potential within the 3km x 1km zone defined to date.
"At present, only one significant trench has been completed through the Artisanal Pitting zone, with mineralisation open in all directions.
"Trenching within the Dorothe Main Vein zone continues to deliver high-grade intersections over 2m and up to 10m in width, with lower grade intervals extending out to 14m widths; demonstrating good continuity along this 1km striking vein swarm that remains open along strike in both directions.
"Further exploration upside is evident in regional soil sampling where three significant gold soil anomalies have been defined in similar structural settings to the Dorothe prospect."
Dorothe Trenching Results
A total of 5,204m of trenching was completed at the Dorothe target utilising a track mounted 30 tonne excavator for a total of 9 trenches; with the longest single trench (TR22) being 1.74km long. The trenching programme was primarily designed to assess the extent and surface grade of the large 3km x 1km artisanal pitting zone, as well as to understand potential controls on mineralisation therein.
Multiple high-grade gold intersections were returned from trenching at Dorothe (Figure 1). Trenching confirmed high-grade gold intervals both within the north-south striking Main Vein zone ('DMV', shown in yellow lines on Figure 1) and broader, north-east striking Artisanal Pitting zone ('DAP', shown in grey areas on Figure 1). Multiple additional <5 gram meter gold intersections were returned throughout the DAP zone (shown as green squares in Figure 1).
The significant number of gold intersections returned to date highlight the exploration potential for the Dorothe prospect to host both high-grade, narrow gold mineralisation and broad, large scale bulk-mineable style mineralisation.
Figure 1 | High-grade >5 gram meter Dorothe trenching results (red text boxes >2g/t gold and white text boxes <2g/t gold); large text boxes for 2017 results and small text boxes for 2014 trenching.
Dorothe Soil Sampling Results
The Dorothe soil sampling programme was designed to test the northern extension of a structural corridor along the eastern flank of a major north-west striking fault zone along which the Dorothe project occurs and new artisanal mining sites have been discovered further north. A total of 4,138 soil samples were collected on a broad spaced 400m x 50m grid along the corridor.
Soil sampling results have identified 3 key target areas for follow-up infill sampling; north strike extensions of the Dorothe prospect over >1km, a 2km x 2km anomalous zone in the north-west of the license area coincident with new artisanal workings and a 4km long north-east striking anomalous zone along a lithological contact zone.
Figure 2 | Regional soil sampling results and gold targets identified respective to the Dorothe Prospect (over Landsat imagery background)
Next Steps
The Company is finalising field programmes for the pending dry season. Field teams are expected to mobilise within the coming months. Field programmes at Dorothe will focus on infill trenching over the DAP to define extensions of the high grade mineralisation intersected to date as well as southern and northern extensions of the DMV.
Infill soil sampling and mapping will be completed along the 3 target areas defined in soils to date as well as broader spaced 400m x 50m soils south of the Dorothe prospect in the southern half of the license.
Trenching and soil sampling results are pending for the Echbara license area.
The Board is very pleased with the progress that the Company has made in 2017 and looks forward to keeping shareholders updated as further news becomes available.
DGR Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
