IronRidge Resources has completed its acquisition of Tekton Minerals Pte Ltd, providing it with full ownership of a highly prospective gold exploration portfolio in Chad. Tekton's highly skilled technical and logistics team will join the IronRidge team to advance the projects and future growth strategies.
Ownership of Tekton provides IronRidge with access to exclusive rights to an extensive granted tenure package with first mover advantage and associated exciting gold exploration targets with large scale and high-grade potential in Chad.
The company in conjunction with the Tekton team is planning for the pending field season, with teams expected to mobilise to country during September. Final results of the previous field season are due imminently and will be used to finalise the field programs.
Field work is estimated to commence in October 2017 after the effects of wet season rains abate.
IronRidge CEO Vincent Mascolo said, “We are delighted to announce that we completed this significant acquisition ahead of schedule, which is part of the execution of our vision and growth strategy for Africa.
“The Chad portfolio represents a highly prospective ground holding with high-grade gold targets within an underexplored yet highly prospective gold province, potentially analogous to the world-class Tintina Province in the Alaska and Yukon Territory.
“The size and extent of artisanal gold workings and the occurrence of coarse, visible gold endorse our strategy.
“The Tekton team offers extensive francophone exploration, logistics and government relations expertise gained throughout West and Central Africa, providing valuable synergies with the IronRidge team and its growth strategy.
“We are very pleased with the work programs completed to date, and look forward to keeping shareholders and investors updated as more news becomes available.”