IronRidge Resources discovers a 2.8km long magnetic anomaly in Cote d’Ivoire

Map: IronRidge Resources

IronRidge Resources announces that it has discovered a 2.8km long magnetic anomaly, centralised within the zone of most intensive hard-rock artisanal gold workings at the Zaranou gold license in Côte d’Ivoire. Highlights from the announcement are as follows:

- 2.8km long by 800m wide magnetic anomaly discovered within the Zaranou license from recently completed airborne geophysical magnetics survey

- Magnetic anomaly occurs directly within a 16km long by 200m to 500m wide zone of intensive in-situ hard-rock artisanal gold workings

- Additional smaller 800m to 200m long magnetic anomalies occur along strike from the main anomaly and predominantly within the zone of hard-rock artisanal workings

- 40km long by 2.5km to 5km wide alluvial gold mining corridor coincident with regional magnetic contact zone; a possible fault corridor

- Field mapping, soil sampling and litho-structural interpretation on going

- Drone survey on going and continues to generate high resolution imagery and topographic control to assist in exploration drilling programmes and baseline studies

- 6,500m drill programme and access planning underway with drilling targeted to commence December 2019

Commenting on the Company’s latest progress, Len Kolff, Chief Operating Officer of IronRidge, said:

“The discovery of the large 2.8km long distinct magnetic anomaly is highly encouraging as it occurs centrally within the 16km long zone of intensive hard-rock artisanal gold mining.

“It represents a direct drill target that is blind at surface and provides a compelling geological and structural basis as to the location of intensive hard-rock artisanal gold mining within the license area.

“The 2.8km long distinct magnetic feature and associated smaller scale anomalies in and around the 16km long zone of hard-rock artisanal mining suggests rock type variation and competency contrast interpreted as an intrusive body at depth; providing favourable structural trap sites for gold mineralisation to occur.

“Additionally, the airborne data shows a coincident magnetic feature along the 40km long alluvial mining corridor, providing confidence in the definition of multiple additional gold targets. 

 “We are delighted with the discovery of the blind magnetic anomaly and we are currently planning a maiden 6,500m drill programme to test the mineralised structures using a combination of both air-core (‘AC’) traverses and deeper targeted reverse circulation (‘RC’) drill holes. This drill programme is expected to commence in December 2019, and we look forward to updating the market on our progress and drilling results.”