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IronRidge agrees sale of May Queen project in Queensland

Christian Fernsby |
IronRidge Resources has entered into a binding agreement with Australasian Gold Limited (AGL) for the sale of May Queen gold project in South East Queensland, Australia.

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Topics: IRONRIDGE   

AGL is a public unlisted company established in 2018 and is operated by an experienced geological team. AGL holds an additional prospective gold exploration license in the Ashburton region of Western Australia, within 30km of the Paulsens gold deposit (207,000oz Au, JORC compliant) held by Northern Star Resources Limited.

Commenting, Vincent Mascolo, Chief Executive Officer of IronRidge, said: "We are pleased to be partnering with AGL on the divestment of our non-core May Queen gold project in South East Queensland, Australia. The divestment provides IronRidge with significant project upside through exploration success by AGL, whilst allowing the Company to intensify capital focus and managerial momentum on our core suite of gold and lithium assets in Africa.

"AGL have demonstrated experience in gold exploration in addition to holding a prospective gold project in Western Australia; providing IronRidge with additional upside from their existing portfolio and the expertise they bring to the ongoing advancement of the May Queen project.

"The Board is confident that AGL will deliver further exploration success at May Queen through targeted exploration and focus that the project deserves, and we look forward to keeping the market updated as results become available."

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