IronRidge Resources Limited (LON: IRR) has secured the right via an earn-in agreement to acquire an additional gold license application in Ivory Coast, West Africa.
The new application for a license at Vavua South covers 400 square kilometres of ground in the famous Birimian Greenstone Belt.
It takes the total amount of gold exploration ground held by Ironridge in Ivory Coast to 3,510 square kilometres.
Of more immediate significance, the acquisition is adjacent to and along strike from a recently defined and growing third party 700,000 ounce gold resource.
"We are very excited by this strategic acquisition which further consolidates and enhances our extensive gold portfolio along prospective structures within the pro-mining jurisdiction of Ivory Coast,” said Vincent Mascolo, Chief Executive Officer of IronRidge.
“We see enormous potential in the Ivory Coast and the portfolio presents a spectacular strategic opportunity that entails exploration potential along significant proven gold bearing structures within close proximity to infrastructure. This strengthens the Company's broader strategy of securing large project footprints within highly prospective yet underexplored terrains with proven gold potential in supportive jurisdictions."