IronRidge discovers high-grade bauxite in Queensland

IronRidge Resources Limited announced that they have discovered high-grade bauxite at its wholly owned Monogorilby bauxite project in Queensland, Australia.

Vincent Mascolo, CEO of IronRidge, said: "We are very pleased with the results of the Company's ongoing mapping and sampling activity at Monogorilby and May Queen projects. Discovering additional bauxite mineralisation adjacent to the Monogorilby Resource adds to the value of the project. The high alumina grades returned, coupled with low reactive silica results across the Koko targets, are encouraging.”

Following are the highlights from the press release:

• High-grade bauxite mineralisation discovered in rock chip sampling at the Koko target area, approximately 25km north-west of the Monogorilby JORC compliant Inferred mineral resource (54.9Mt @ 37.5% total alumina)
• Multiple high-grade rock-chip results up to 43 - 52.8% available alumina and 2 - 5.4% reactive silica returned.
• Two new bauxite target areas defined at Koko covering approximately 1.2km and 1.8km strike lengths and 200m to 300m widths respectively.
• High-grade bauxite confirmed at Monogorilby West with multiple rock-chip results up to 42.6 - 48.7% available alumina and 1.4 - 3.1% reactive silica returned.