Red Rock Resources - Red Rock Australasia - License Applications
("Red Rock" or the "Company")
Red Rock Australasia - License Applications Build Critical Mass
The Company through RRAL has applied for additional ground at EL007294, and EL007301, two new gold exploration license areas in the Victoria Goldfields of
Red Rock Chairman
"With these new applications RRAL achieves its objective of building a significant position with target diversity in its area of focus around the historic mining centre of Ballarat, and stretching up towards Avoca and Castlemaine. The area includes potential structural targets, extensions along strike of existing mines, old gold mines abandoned when they hit the water table, undrilled drill targets where previous explorers ran out of time or funding, and areas all but untouched since the nineteenth century.
Each license contains evidence of gold mineralisation and historic gold workings, with in many cases recorded production from previous alluvial mining or underground drives. At a time when the Goldfields are attracting considerable new interest after a series of discoveries and the opening up of the high grade zones at the Fosterville mine, RRAL has made a strategic decision to become a regional specialist in the Victoria Goldfields with a twin focus on bringing brownfield projects back into production and discovering new mines.
Often it is by producing that one makes discoveries."
· RRAL has now lodged applications for EL 007294 and EL007301, two new gold exploration license areas covering an additional 215 sq km in the Victoria Goldfields of
· In total the JV license application areas of RRAL in
Ø EL007281 Blue Chip 74 sq km
Ø EL007282 Blue Sky 499 sq km
Ø EL007285 Blue Ribbon 8 sq km
Ø EL007294 Red Queen 130 sq km
Ø EL007301 Mt Bute 85 sq km
Fig 1: EL Applications in
· The license applications are focussed on the Ballarat area and the two recent applications, EL007301 west of Ballarat, and EL007294 further off to the north-north-west near Avoca , are close to and along the north-south structural corridor between the
· All license application areas have [ evidence of gold mineralisation] and historical mining, and in many cases recorded production and drilling;
· Analysis of historical exploration and geophysical data continues, and further updates will be provided in due course.
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information, please contact:
Scott Kaintz 0207 747 9990 Director
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD
Mark Treharne 0203 700 2500 Broker
This information is provided by RNS, the news service of the
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