Appointment of Director

RNS Number : 1952O

IronRidge Resources Limited

26 May 2015

 



26 May 2015

IronRidge Resources Limited

(AIM: IRR)

Appointment of Director

The Board of IronRidge Resources Limited, ("IronRidge" or the "Company") is pleased to announce the appointment of Mr Tsuyoshi Ueda ("Thomas Ueda") as Non-Executive Director to the Board of the Company with immediate effect. 

Mr Ueda joins the Board as part of the Company's strategic alliance with Sumitomo Corporation ("Sumitomo") and brings to IronRidge a wealth of expertise in the strategic development, marketing, operational and corporate development of the Company's Gabonese iron ore assets.

Mr Ueda is currently the Deputy General Manager of Sumitomo's Iron & Steel Making Raw Materials Department.  Prior to this appointment Mr Ueda was the General Manager for Sumitomo's Africa Division for Mineral Resources and Steel Products.

Mr Tsuyoshi Udea (age 52) currently holds or has held the following directorships and partnerships in the last five years:

Current Directorships	Past Directorships
None	None

There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

For Further Information:

IronRidge Resources Limited
Vincent Mascolo (Chief Executive Officer)	Tel: [phone]
Nicholas Mather (Executive Chairman)	Tel: [phone]
SP Angel Corporate Finance LLP	Tel: [phone]
Nominated Adviser and Broker
Jeff Keating Tercel Moore Yellow Jersey PR Limited Financial PR Dominic Barretto Kelsey Traynor	Tel: [phone]

Notes to Editors:

IronRidge Resources is an AIM listed iron ore exploration company with assets in African and Australia.  The Company's flagship project is located in Gabon, West Africa with permits in two areas - Belinga Sud and Tchibanga.  These permits cover at total area of 3,974km² and were awarded by the Minister for Mines and Industry in June 2013.  IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class iron ore deposits.

Tchibanga:

Located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline.  This project comprises two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km² and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud:

Located in the north east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville.  IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Australia:

IronRidge has two assets in Australia, Mongorillby and Quaggy.  Mongorillby is prospective for titanium oxides whilst Quaggy has shown strong anomalies of platinum palladium nickel cobalt and copper.

Corporate:

IronRidge was created by resource company generator DGR Global Limited (who retain a 26% interest) and has attracted investment support from high-grade South African iron, chrome and manganese mining specialist Assore Limited (who hold a 30% interest) and global resources, mining, marketing and trading conglomerate Sumitomo Corporation (who hold a 12% interest). 

The Board of Directors is represented by mining industry professionals with a broad range of corporate, exploration, production, contracting and capital markets experience.  The Company was admitted on 12 February 2015 (Ticker Code IRR) and currently has 236,612,203 shares and 13,270,000 unlisted options on issue.

 

END

 

 

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