IronRidge Resources has been granted four-year license renewals with corresponding area reductions by the Ministry of Petroleum and Mines for the Dorothe, Echbara and Am Ouchar licenses, now covering 446.25 km2 within an overall 746.25 km2 portfolio of highly prospective gold tenure, including the drill-ready Dorothe Gold Project.
Commenting on the Company’s latest progress, Vincent Mascolo, CEO of IronRidge, says:
“We are pleased to have successfully renewed the Dorothe, Echbara and Am Ouchar licenses for a further four-year period, securing this important gold portfolio and the drill-ready Dorothe target – the Company’s most advanced gold project within the Chad portfolio.
“We have worked closely with the Ministry of Petroleum and Mines to secure the license renewals and look forward to resuming field activities.
“The recently renewed licenses and existing granted tenure now cover a combined 746.25 km2 of prospective geological terrain with significant previous exploration work completed to date identifying multiple gold targets for immediate follow-up.
“The Dorothe Project represents a high-priority walk-up and drill target with in-excess of 14,500 m of trenching completed to date, large scale artisanal workings over a 3 km x 1 km area, very encouraging trenching intersections and supporting ground geophysics.
“Now that travel restrictions have eased, we have been able to re-enter Chad and resume activities; the Company’s N’Djamena exploration office is to be re-established shortly and preparations are now underway to allow the resumption of field activities in the new year.
“Our intention is to focus on drill testing the Dorothe target prior to the onset of the wet season in July 2021. We look forward to updating the market with our progress in due course.”