Business
IronRidge to Acquire 100% of Tekton Minerals
IronRidge to Acquire 100% of Tekton Minerals.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \nRNS Number : 7713H IronRidge Resources Limited 12 June 2017 \n\n12 June 2017\n \nIronRidge to Acquire Tekton Minerals\nNew Artisanal Mining Sites Discovered\nAnalogue to the Tintina Gold Province, Alaska - Yukon Territory\nProject Update, Chad Central Africa\n \nIronRidge Resources Limited (AIM: IRR, 'IronRidge' or the 'Company') is pleased to announce that it has entered into a conditional agreement with the main shareholders of Tekton Minerals Pte Ltd (\"Tekton\"), to acquire their interests in Tekton. \n \nThe agreement is conditional on IronRidge securing agreements from the remaining shareholders of Tekton, representing 10% of Tekton's issued share capital, which will give 100% ownership of Tekton and its promising underlying gold exploration projects in Chad. \n \nHIGHLIGHTS:\n \nØ IronRidge to acquire 100% of Tekton Minerals Pte Ltd.\nØ As part of the acquisition, Tekton's highly skilled technical and logistics team will join the IronRidge team to advance the projects and future growth strategies.\nØ Dorothe key target zone 1km x 3km artisanal workings and 1km x 200m parallel vein zones.\nØ Extensive 10,652m trenching and 9,768 soil sampling programmes completed over the Dorothe and Echbara license areas prior to onset of wet season.\nØ Approximately 15 tonnes for 10,562 samples have been packed and ready for shipment to an accredited lab for preparation and analysis.\nØ Field mapping observations and mineral occurrence multi-element geochemistry metal associations indicate potential for an Intrusion Related Gold System (\"IRGS\") exploration model; potential for significant scale and high-grade discoveries inferred.\nØ The Ouaddaï Province represents a potential analogue of the 'Tintina Gold Province' in the Alaska and Yukon Territory.\nØ New artisanal mining sites discovered showing ubiquitous visible gold.\n \nReference to figures and tables relate to the version of this release on the Company's website (www.ironridgeresources.com.au) or visible in PDF format by clicking the link below:\n \n http://www.rns-pdf.londonstockexchange.com/rns/7713H_-2017-6-12.pdf\n \nCommenting on the Company's latest progress, Vincent Mascolo, Chief Executive Officer of IronRidge, said: \n \n\"We are extremely pleased with this latest acquisition which is part of the execut...