IronRidge Resources (LON:IRR) have seen their share price rise steadily over the past six months, after making a number of strategic acquisitions this year and enhancing its extensive gold portfolio in Ivory Coast.
IronRidge, an exploration and development-stage company engaged in exploration for base and precious metals, announced a partnership this week with Enchi Proci SARL for the Gboguhue license application, providing IronRidge with exclusive rights to the 400km2 application. This, in conjunction with additional applications and licenses, provides IronRidge with exclusive rights to a 3,110km2 province of highly prospective Birimian rocks.
CEO Vincent Mascolo commented, “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. We see enormous potential for IronRidge in Ivory Coast.”
This unconditional partnership, in addition to the partnership announced with Major Star at the end of March, now provides IronRidge with exclusive rights to exciting exploration targets over two license applications along strike from a recently delivered and growing maiden resource base of 700Koz held by a private third party.
The entire Ivory Coast is underlain by the prolific Birimian Greenstone Belt which hosts a number of world class gold deposits in Ghana, Mali, Senegal and Burkina Faso. Mining majors such as Randgold and Newcrest are currently actively exploring in the area, which has not seen sustained exploration programmes utilising modern exploration techniques due to previous episodes of civil unrest.
IronRidge Resources have seen their share price grow steadily over the past six months, from 13.75 pence in October to 44.98 pence as of 1013GMT on Thursday.