Multiple Gold Intersections in Trenching
Soil Anomalies Defined, Chad, Central Africa
IronRidge Resources Limited (AIM: IRR, 'IronRidge' or the 'Company') is pleased to announce that trenching and soil sampling results have been received for the Echbara Project in Chad, Central Africa.
HIGHLIGHTS:
Ø Multiple gold intersections* returned in 'fresh rock' trenches, including:
o 12m @ 2.71g/t gold
o 12m @ 0.94g/t gold
o 22m @ 0.74g/t gold
o 52m @ 0.35g/t gold
Ø 500m strike length of >15 gram metre (grade x interval) intersections with up to 1.2km strike length of 10 - 15 gram metre intersections in trenching.
Ø Multiple gold in-soil sampling anomalies identified including a 4km x 2km gold anomalous zone along strike from Echbara; highlighting additional exploration upside.
Ø Additional coincident tellurium, antimony, tin, arsenic and cadmium anomalies in multi-element geochemistry. *0.2 g/t gold cut-off with maximum 2m of internal waste
Commenting on the Company's latest progress, Len Kolff, IronRidge Chief Geologist said:
"These first pass trenching results over significant widths within the Echbara target demonstrate good continuity over a 1.2km strike length with a higher-grade core zone over 500m strike and up to 2.71g/t gold.
"The Echbara mineralisation is now well constrained within trenching for future work programmes. Further exploration upside is evident in regional soil sampling where multiple and significant gold anomalies have been defined, including a 4km x 500m anomalous zone along strike from Echbara.
"The 100% owned Echbara prospect is only 25km from the Company's 100% owned Dorothe prospect, providing good operational synergies during exploration work and potentially beyond.The Company is finalising field programmes for the pending dry season and we look forward to providing the market with updates, once the new season field activities have commenced."
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:
Echbara Trenching Results
A total of 5,448m of trenching was completed at the Echbara target utilising a track mounted 30 tonne excavator for a total of 9 trenches. The trenching programme was primarily designed to assess the extent and surface grade of the 2km long >100parts per billion ("ppb") soil anomaly, as well as to understand potential controls on mineralisation therein. Trench samples were collected on 2m intervals as a cut channel into the trench wall or floor and submitted for gold analysis at ALS laboratories by fire assay.
The Echbara license is located within 25km of the Dorothe license and is prospective for gold and potential intrusion related gold style mineralisation.
Trenching intersected multiple anomalous gold intervals at a 0.2g/t gold cut-off and maximum 2m of continuous internal waste in 'fresh rock', including narrower high-grade intervals (12m @ 2.71g/t gold) and broader lower grade intervals (50m @ 0.35g/t gold).
Trenching defined anomalous gold mineralisation at greater than 10 gram metres (which is calculated as grade x interval width) over a 1.2km strike and average 20m width; broadly coincident with the >100ppb gold soil anomaly defined by the United Nations Development Programme (UNDP) during the 1990's.
Within this broader mineralised zone, a higher-grade core over 500m strike at greater than 15 gram metres occurs with an individual trench intersection of 12m @ 2.71g/t gold; broadly coincident with the UNDP >300ppb soil anomaly contour.
All trench intersections are reported in Table 1.
Echbara Soil Sampling Results
The Echbara soil sampling programme was designed to test the majority of the 200km2 Echbara license at approximately 800m to 400m x 50m sample spacing. Samples were submitted for gold analysis by fire assay and multi-element geochemical analysis at ALS laboratories. Three additional anomalous gold zones have been identified within wide spaced soil sampling lines at the Echbara license:
· Approximately 4km long by 2km wide 5 to 130ppb anomalous gold zone with weakly coincident tellurium and antimony geochemistry in 800m spaced sample lines to the north-east of Echbara.
· Narrow 2.5km long 20-85ppb gold anomaly with coincident arsenic-cadmium anomaly over a 5km x 1km area.
· Approximately 5km x 1km anomalous 5-85ppb gold zone with weakly coincident barium, cadmium and tin anomalism.
Next Steps
The Company is finalising field programmes for the pending dry season. Field teams have already mobilised to Country in preparation for field activities commencing. Field programmes will focus on infill and extensional trenching at the Dorothe prospect, detailed structural mapping at the Dorothe and Am Ouchar prospects and soil sampling and mapping over the Dorothe and Echbara licenses.
Infill soil sampling and mapping will be completed along selected target areas defined in soils at Echbara to date as well as broader infill sampling along the south-east margin of the Echbara license.
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:
11.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
