IronRidge Resources Limited | LSE(AIM): IRR (24.3% owned by DGR)

On 24 September 2018, IronRidge released the details of high‐grade and broad gold trenching results from extensional and infill trenching at the Dorothe prospect in Chad, Central Africa. The results reinforced IronRidge’s previously reported large, coherent gold targets, and also defined an additional sixth high‐grade, coherent gold anomaly.

The overall trenching program conducted by IronRidge at its Dorothe prospect has confirmed the extension of mineralisation below cover, and the continuity of anomalous intervals between previously reported wider‐spaced trenches; providing confidence in the continuity and scale of the mineralised system. In the field work to be undertaken shortly, IronRidge will conduct a ground geophysics Induced Polarization (“IP”) survey over Dorothe to further define drilling targets at depth in conjunction with surface trenching results.

On 8 October 2018, IronRidge announced the receipt of additional high‐grade lithium drilling results from its Ewoyaa Project in Ghana, West Africa. IronRidge’s COO, Mr Len Kolff said:

“High grades over significant intervals and proximity to essential infrastructure coupled with the pro‐ mining and stable jurisdiction of Ghana bodes well for the future development of the Cape Coast Lithium Portfolio.

Essential infrastructure including roads and power, within 100km trucking distance of an operational deep‐ sea port and a well‐trained local workforce is a significant advantage for the project with potential for a low capital and operational intensity start‐up. Results received to date indicate the development of a broad, continuous high‐grade zone within the Central and North Extension zones which remains open to the north, with additional drilling results pending. Field teams have commenced a pitting programme to further define the Ewoyaa pegmatite footprint along the North Extension ahead of drilling programmes.

Planning is underway for a metallurgical diamond drilling programme, which is planned to commence post receipt of the remaining 1,704m of drilling results.”

The current value of DGR Global’s investment in IronRidge is approximately $28 million.

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