Business
May Queen Prospect, Central Queensland Australia
May Queen Prospect, Central Queensland Australia.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \nRNS Number : 6982E IronRidge Resources Limited 20 July 2016 \n\n \n \nHigh-Grade Gold Intersections and Exploration Targets Defined\nMay Queen Prospect, Central Queensland Australia.\n \nThe Board of IronRidge Resources Limited (\"IronRidge\" or the \"Company\"; AIM:IRR), is pleased to advise the location of high-grade gold intersections in historical drilling and the discovery of exciting new gold exploration targets, within its wholly owned Australian licence package at the May Queen Prospect. \n \nHIGHLIGHTS\n· Historical intersections including:\no 4m @ 38.8g/t Au (at end of hole) and 3m @ 18.9g/t Au in hole BPH15;\no 2m @ 73.4 g/t Au, including 1m @ 145g/t Au in hole BPH1.\n· Mineralisation remains open along strike in both directions and at depth.\n· Discrete magnetic anomaly spatially associated with mineralised intersections; additional untested magnetic anomalies discovered along strike to the south-east underneath 20m to 50m of cover.\n· May Queen Prospect is located within wholly owned Central Queensland tenure package.\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 \nhttp://www.rns-pdf.londonstockexchange.com/rns/6982E_-2016-7-20.pdf \n \n \nDETAILED INFORMATION\nThe Company has identified historical high-grade gold drill intersections at the May Queen Prospect within its wholly owned Monogorilby license package, in Central Queensland Australia.\n \nHistoric drilling completed during the late 1980s by Black Swan Pacific NL intersected multiple high-grade gold intervals including 2m @ 73.4g/t Au (including 1m at 145g/t) in hole BPH1 and 4m @ 38.8g/t Au (at end of hole) and 3m @ 18.9g/t Au in hole BPH15, over an approximate 100m strike, which remains open in both directions and at depth.\n \nThe mineralisation appears to be hosted within numerous parallel quartz vein systems open to the north-west and south-east, projected to extend under cover and concealed below younger sediments. \n \nThe intersections appear to occur at or close to the contact between intrusive andesite porphyritic dykes and gabbros, and a mixed mudstone - limestone sedim...