Minerals exploration company IronRidge Resources has discovered a 2.8-km-long and 800-m-wide magnetic anomaly at its Zaranou gold licence, in Côte d'Ivoire.
"The discovery of the large . . . distinct magnetic anomaly is highly encouraging as it occurs centrally within the 16-km-long zone of intensive hard-rock artisanal gold mining.
"It represents a direct drill target that is blind at surface and provides a compelling geological and structural basis as to the location of intensive hard-rock artisanal gold mining within the licence area," IronRidge COO Len Kolff commented in a statement issued on Monday.
The Aim-listed company pointed out that the discovery of the anomaly, along with multiple smaller 200-m- to 800-m-long anomalies along strike, showed variation in the magnetic signature of the rocks directly around where the hard-rock artisanal gold workings occur.
"This could be an indication of rock type variation and, importantly, rheological contrast, providing favourable structural trap sites for gold mineralisation to occur. At this stage, it is unclear as to what is causing the magnetic feature; however, it may represent an intrusive body at depth," IronRidge noted.
Kolff added that the company was planning a maiden 6 500 m drill programme, which would likely get under way in December, to test the mineralised structures using a combination of air-core traverses and deeper targeted reverse circulation drill holes.