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IronRidge Resources Limited inks Ivory Coast JV

Published: 02:04 28 Mar 2017 EDT

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Deal done - now the work can begin

IronRidge Resources Limited (LON:IRR) has inked a joint-venture agreement  with Major Star, holder of a portfolio of gold exploration targets in the Ivory Coast.

Specifically, it has secured access rights to two licences covering 800-square kilometres and an application over a third area half that size.

First mooted in November, the deal was sealed after a period of extensive due diligence.

This included an assessment of 809 soil samples, 267 auger samples and 108 rock chip samples across the three project areas.

Drill intercepts contained up to 2.3 grams per tonne of the precious metal found close to artisanal workings, while soil samples were also encouraging. The company has field teams on the ground.

"Major Star brings with it a highly professional and experienced team with a proven track record in geological target generation and development, government relations, logistics and security,” said IronRidge chief executive Vincent Mascolo. 

"We are extremely confident with the decision to partner with Major Star and we are continuing with current field programs.  We look forward to providing the market with updates in due course."

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