IronRidge begins drilling on Kineta North gold licence
Africa-focussed minerals exploration company IronRidge Resources has started drilling at the Kineta North gold licence in north-eastern Côte d'Ivoire, West Africa, it announced on Wednesday.
The AIM-traded firm said the 2,500 metre reverse circulation drilling programme was designed to test the Kineta North target, where previously-reported soils defined a two kilometre long, 250 metre wide, more-than-30 parts per billion gold soil anomaly with coincident underground artisanal workings over a 700 metre strike.
Previously-reported rock-chip sampling results also included 15 grams per tonne, 32.4 grams per tonne and 46.4 grams per tonne of gold.
Drilling would test below the previously-reported trenching intersections where multiple gold intersections were reported, including two metres at 4.04 grams of gold per tonne and six metres at 0.24 grams per tonne.
The company said visible gold was observed in quartz vein reverse circulation drill chips in the first hole completed, with assays pending.
It expected to complete the drilling programme during the second quarter.
“We are pleased to have commenced drilling at the Kineta North gold target where previous field work has defined a coincident soils, trenching and artisanal workings target,” said chief executive officer Vincent Mascolo.
“Drilling is underway with visible gold observed within quartz vein reverse circulation drill chips from the first hole completed with assays pending.
“The Kineta portfolio covers a contiguous combined surface area of 1,532 square kilometres within the north-east of Côte d'Ivoire and along the same shear structure that hosts the 3.3 million ounce Konkera resource, and the 2.1 million ounce Wa-Lawra resource.”
At 1220 BST, shares in IronRidge Resources were up 1.08% at 21p.