IronRidge Resources raises funds for gold and lithium projects in Africa

IronRidge Resources Limited, Brisbane, Australia, has conditionally raised £4.75 million before expenses through a placing of, and subscription for, in aggregate, 67,857,571 new ordinary shares of no par value each in the Company, at a price of pence per new ordinary share.

IronRidge Resources will utilize these funds towards an accelerated drilling programme at the Zaranou Gold Project in Côte d’Ivoire and advancing its remaining suite of gold assets in Côte d’Ivoire and Chad, and its lithium projects in Ghana.

Commenting, Vincent Mascolo, CEO of IronRidge, says: “The fundraise, in which we have secured £4.75 million, will enable the Company to accelerate momentum during 2020 at our flagship Zaranou Gold Project through an aggressive drilling programme targeting a maiden mineral resource estimate, further develop the highly prospective suite of gold assets in Côte d’Ivoire and Chad, and advancing our lithium discovery in Ghana.

“We have resumed drilling at our Zaranou Gold Project through a phased drilling campaign designed to assess mineralisation continuity and targeting a maiden mineral resource estimate.

“We continue to advance our remaining suite of gold assets in Côte d’Ivoire and Chad, along with low-cost value adding initiatives across our Cape Coast Lithium Portfolio in Ghana.

“We would like to thank our existing shareholders for their continued support and would like to welcome our new shareholders to the register.

“In addition, the significant support of the Board and Assore is a resounding endorsement of our diversified portfolio and ability to deliver new discoveries as we continue transitioning from explorer to developer”.

About IronRidge Resources
IronRidge Resources is an AIM-listed, Africa focussed minerals exploration company with a lithium pegmatite discovery in Ghana, extensive grassroots gold portfolio in Cote d’Ivoire and a potential new gold province discovery in Chad. The Company holds legacy iron ore assets in Gabon and a bauxite resource in Australia. IronRidge’s strategy is to create and sustain shareholder value through the discovery and development of significant and globally demanded commodities.

Full press release HERE.

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