IronRidge Resources Limited New Senior Appointment (3307N)

TIDMIRR

RNS Number : 3307N

IronRidge Resources Limited

08 August 2017

8 Aug 2017

New Senior Appointment Strengthens Management Team

IronRidge Resources Limited (AIM: IRR, 'IronRidge' or the 'Company') is pleased to announce the appointment of Joe Clarry to the position of Exploration Manager.

The appointment bolsters IronRidge's management team as the Company continues to expand and develop its projects in Africa, in particular its rapidly developing lithium project portfolio.

Joe Clarry has over 20 years' experience in managing greenfields, brownfields and near mine exploration in gold, lithium, iron ore and base metals. Joe brings with him a wealth of expertise across multiple commodities and deposit settings within both the Major and the Junior sectors. Joe's experience includes extensive lithium pegmatite and gold exploration and project studies throughout West Africa and Australia in both grassroots exploration and brownfields settings. More recently, he was involved in the rapid delineation of a spodumene dominant lithium pegmatite in Mali, West Africa and will be able to provide valuable firsthand experience as the Company advances its lithium project portfolio in Africa.

Joe will work closely with the existing management team to oversee the Company's diverse and extensive project pipeline throughout Ghana, Chad, Ivory Coast, Gabon and Australia. His immediate focus will be on the Company's rapidly advancing Cape Coast Lithium Project in Ghana as it moves towards initial drill planning.

Vincent Mascolo, Chief Executive Officer of IronRidge, commented: "We are delighted to welcome Joe Clarry to our management team here at IronRidge, it is testament to the reputation of the Company that we have been able to attract an Exploration Manager of his calibre."

Len Kolff, Chief Geologist of IronRidge, added: "Joe brings with him a wealth of African expertise, including extensive lithium pegmatite and gold exploration experience. He will be a valuable addition to the team as we advance our project pipeline."

For any further information please contact:

 
IronRidge Resources Limited 
Vincent Mascolo (Chief       Tel: [phone] 
 Executive Officer)           0610 
Nicholas Mather (Executive   Tel: [phone] 
 Chairman)                    0610 
 
SP Angel Corporate Finance   Tel: +44 (0)20 
 LLP                          3470 0470 
Nominated Adviser and 
 Broker 
Jeff Keating 
 Caroline Rowe 
 
 Yellow Jersey PR Limited      Tel: +44 (0) 
 Dominic Barretto              7768 537 739 
 Katie Bairsto 
 

Notes to Editors:

IronRidge Resources is an AIM listed mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland Australia. IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

Australia

Monogorilby is prospective for province scale titanium and bauxite with an initial maiden resource of 54.9MT of premium DSO bauxite Monogorilby is located in central Queensland, within a short trucking distance of the rail system leading north to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

May Queen is located in Central Queensland within IRRs wholly owned Monogorilby license package and is highly prospective for gold. Historic drilling completed during the 1980s intersected multiple high-grade gold intervals including 2m @ 73.4 g/t Au (including 1m at 145g/t), 4m @ 38.8g/t Au (at end of hole) and 3m @ 18.9g/t Au, over an approximate 100m strike hosting numerous parallel vein systems, open to the north-west and south-east.

Wholly owned Quaggy contains highly anomalous platinum, palladium, nickel, cobalt and copper exploration targets and is located in Central Queensland within a short trucking distance of the dormant rail system to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

Gabon

Tchibanga is located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline. This project comprises two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km(2) and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud is Located in the north east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville. IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Chad

The Company entered into an agreement with Tekton Minerals Pte Ltd of Singapore concerning its portfolio covering 1,000km(2) of highly prospective gold and other mineral projects in Chad, Central Africa. IronRidge acquired 100% of Tekton including its projects and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and Ade licenses, which host multiple, large scale gold projects. Initial trenching results at Dorothe, including 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant gold mineralised quartz veining over a confirmed 1km strike at an average of 2m and up to 5m true width across multiple stacked vein zones over a 250m wide zone with new hard-rock artisanal workings potentially extending strike to >3km.

Ghana

The Company entered into conditional joint venture arrangements with Obotan Minerals Limited, Merlink Resources Limited and Barari Developments Limited of Ghana, West Africa, securing the first access rights to acquire the historical Egyasimanku Hill spodumene rich lithium resource, estimated to be in the order of 1.48Mt at 1.67% Li(2) O and surrounding tenements. The portfolio covers some 314km(2) with a further identified 20km strike of pegmatite vein swarms, tenure package is also highly prospective for tin, tantalum, niobium and gold which occur as accessory minerals within the pegmatites and host formations.

Ivory Coast

The Company entered into conditional joint venture arrangements in Ivory Coast, West Africa; securing access rights to highly prospective gold mineralised structures and pegmatite occurrences covering a combined 3,110km(2) and 400km(2) area respectively. The projects are well located within access of an extensive bitumen road network and along strike from multi-million ounce gold projects and mines.

Corporate

IronRidge made its AIM debut in February 2015, successfully securing strategic alliances with three international companies; Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia. Assore is a high- grade iron, chrome and manganese mining specialist. Sumitomo Corporation is a global resources, mining marketing and trading conglomerate. DGR Global is a project generation and exploration specialist.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 08, 2017 02:00 ET (06:00 GMT)