High-Grade Gold Results From Zaranou License In Cote d'Ivoire

BRISBANE, QLD - IronRidge Resources Limited reported that high-grade gold results have been returned from its Zaranou gold license in Cote d'Ivoire, West Africa. Len Kolff, Chief Operating Officer, said, "Receiving consistent and high-grade channel and rock-chip sampling results from an early stage reconnaissance program over the Zaranou license area reinforces the significant exploration potential of this project and the strategy to aggressively advance the targets. The returned results demonstrate that a high-priority target zone is developing over a 9.8km strike length at average 800m width which remains open along strike in both directions, with coincident hard-rock artisanal workings, high-grade channel and rock-chip sampling results and favorable geology. Importantly, mineralization has been recorded both within quartz veins and the host schist lithology; indicating scale potential and bulk mineable widths. These newly reported results validate historical reported results including broad mineralized quartz vein zones averaging 1.5g/t to 12g/t gold and mineralized pyrite alteration zones extending a further 10m into the host rock. Likewise, historical results including 21m @ 2.2g/t gold in RAB including 5.7 g/t over 5 meters provides additional conviction in an important project. Despite the wet season, which is currently underway and is expected to last until September, field teams are completing a high-resolution drone survey and follow-up field mapping, whilst also planning AC drilling and soil geochemical programs which will commence in the dry season in October."

Field teams completed detailed face mapping and channel sampling on over 15 large scale and 130 small scale artisanal pits for a total of 145 primary 'hard-rock' artisanal mining pits within the central portion of the Zaranou license.

A total of 324 samples including 114m* of channel sampling and Quality Assurance / Quality Control ('QA/QC') samples were submitted to the lab for gold assay. Multiple high-grade channel sampling results including 6m @ 3.67g/t gold, 3m @ 4.13g/t gold and 4m @ 2.39g/t gold were returned as part of this reconnaissance program. The results are significant as gold mineralization was encountered in both schists and quartz veins, providing confidence in broader mineralized intervals within host rock amenable to bulk mining techniques. Rock-chip sampling returned multiple high-grade results including 69.6g/t, 48.8g/t, 25.3g/t and 20.5g/t gold, with all rock-chip results. Results are significant as both quartz veins and schists with disseminated weathered sulphides returned gold mineralization, providing further confidence in broader mineralized widths.

The high-proportion of >1g/t gold results returning in both the channel and rock-chip sampling results, in addition to broad, low-level gold anomalism in channel sampling as part of a reconnaissance program is noteworthy and highlights both prospectivity within the license area and the potential for bulk mineable widths. Results have defined a 9.8km long and average 800m wide high-priority gold target zone with coincident hard-rock and alluvial artisanal workings, high-grade channel sampling and rock chip results including 6m @ 3.67g/t gold and up to 69.6g/t respectively, and favorable geology. Mineralization remains open to the north-east and south-west within a 40km striking shear zone with coincident artisanal workings.

Reported results provide confidence in unverified SEDAR and annual reports by Winslow Gold Corporation (TSX: WGS) and Etruscan Resources (TSX: EET) recovered online indicating mineralization in quartz veins averaging 1.5g/t to 12g/t gold and extending 10m into pyritic schists either side of the veins, and a best RAB drilling result of 2.2g/t over 21 meters (including 5.7 g/t over 5 meters) within the license area.

At Zaranou, field teams have commenced an in-house fixed wing drone survey to generate detailed topography and aerial photography base maps. Concurrently field team are completing field mapping over the area of recently reported assay results to gain a better geological understanding (refer Figure 5).

The Company is planning infill AC drill hole fences to test for mineralization width and continuity within high-priority zones highlighted in channel and rock-chip sampling assay results, as well as regional soil geochemistry sampling programms within the south-western portion of the license area. This work is planned to commence at the onset of the dry season, expected during October 2019.

The company’s address is Level 27, 111 Eagle Street, Brisbane, QLD Australia. 4000, (61 7) 3303-0610, www.ironridgeresources.com.au.