Red Rock Resources - Australasia - Blue Ribbon Project Update
("Red Rock" or the "Company")
Red Rock Australasia - Blue Ribbon Project Update
RRAL has commissioned historical reports and targeting assessments of its 11 license applications, and the first of these, for the Blue Ribbon license (EL007285), has been received. The license is 5 km north of the
In its announcement of 4th May the Company stated that detailed information and references for the projects would be set out, once received, on the Company's website, and the information below will shortly be posted there.
KEY POINTS FROM REPORT
· 19th century records show historical production of 70,000 oz of gold over 2km of the Dead Horse Lead within the
· Six gold nuggets between 10oz and 85 oz recorded from the workings of the
· Only work carried out on the tenement since the 19th century has been data reviews and target generation;
· Primary exploration target is the northern extension of the Ballarat West Goldfield, assumed to be the source of the palaeoplacer gold on the tenement;
· Next exploration steps include include finalisation of drill targets and implementation of a three hole, 1000m drill program, subject to license grant and local approvals;
· Blue Ribbon now a priority target for RRAL.
Red Rock Chairman
"Blue Ribbon was until this week by far the smallest of our licenses at 8 sq km. It is however a highly prospective one, lying between and contiguous to the Ballarat and Creswick goldfields, and with the prolific Dead Horse Lead running through it.
We expect to be able to define drill targets at this Project soon after grant."
The report runs as follows:
"EL007285- North-West of Ballarat
Mapping Sheet (1:100,000)
1.1.1. Regional Geology
EL007285 is located within the Bendigo -
The basement stratigraphy of the tenement area consists of folded N-S striking (result of E-W compression) interbedded turbidite deposits of sandstone and siltstone of the
1.1.2. Local Geology
The Ordovician rocks are mostly concealed by Newer Volcanics with minor Pliocene colluvial. The only exposure of Ordovician sediments on the tenement occurs in the far eastern portion of the tenement and are typical of those in the Ballarat field. Multiple Cainozoic basalt flows have buried deep leads.
A graphitic slate zone (Black Slate) occurs throughout the Ballarat West line and is essentially the only significant lithological unit that can be extrapolated with confidence across this line. This zone is not observed on the Ballarat East line.
The black slates of Ballarat West is a zone varying in thickness from 22m to 44m, and consists of series of graphitic, dolomitic and pyritic black slates, pyritic mineral seams, laminated quartz lodes, crushed quartz and sandstones.
The lode generally occurs close to the lowest black slate member in the zone, although two parallel lodes have been worked on laminated quartz in several mines including the
Being directly associated with the lode, the black slates have been well recorded in most historical texts and workings and also in recent drill holes where they occur, although in some mines including the Sir
The northern extension to the Ballarat West Goldfield is projected to occur in the eastern portion of the tenement. The mineralisation in this field is characterised by laminated quartz reefs hosted within black slate beds containing bedding parallel shears confined to west dipping fold limbs. The thrust faults controlling this system extend locally across the fold hinges into the east-dipping limbs as dilatant jogs within which quartz-vein stockworks (tension vein arrays) were mined. (Horwood, 2011)
Several west draining deep leads occur in the central area of the tenement and are typical of those found in the Ballarat field.
1.1.4. Mining History/Production
The Deadhorse Lead produced 70,000 ounces over 2 km (Chintock, 2008)3 of strike length downstream from the where the lead crosses the projected northerly extension of the Ballarat West goldfield.
Figure 1 - Ballarat West Goldfield and target position
Individual deep lead mine production from the major mines on the tenement is listed in Table 1. Numerous small mines located on the tenement are lacking individual production records.
Table 1- Major mine production from EL007285
Rose Hill GM
Great Northern Junction
Nil Desperandum Co
There is no record of primary gold production on the tenement.
The quartz mines of the Ballarat West goldfield have produced a recorded 800,000 ounces of gold at an average grade of approximately 14 grams per tonne. A further 6 million ounces of gold is estimated to have been won from the ancient river channels which cross the field. (D'Auvergne, 1998)4.
220.127.116.11. Nearby Mining Activity
1.1.5. Exploration History
No exploration has been completed on the tenement since the 19th century short of data collation and target generation.
1.1.6. Exploration Strategy
The primary target on this tenement is the northern extension of the Ballarat West Goldfield, assumed to be the source of the palaeoplacer gold on the tenement.
This target is only 4 km north of the main Ballarat West field and 2 km north of its northernmost mined quartz reef - the projected Ballarat West field would fall within the tenement over the zone considered to be the main target area based on palaeoplacer gold occurrences.
In order to define this target, the following processes should be considered:
· Investigate drainage channel directions to narrow the zone where the the gold originated from.
· Review and interpret magnetic images to potentially interpret structures masked by the basalt.
Other information to note:
· Six gold nuggets between 10 and 85 ounces were recorded from the workings of the
· Quartz veining was been recorded in several palaeoplacer mines on the tenement.
It is recommended that diamond drilling be used once the base of the basalt has been reached to allow the position within the fold sequence of the Ballarat field to be determined. The lodes of Ballarat West and for some-part Ballarat East are lithologically controlled.
This area remains relatively undeveloped in regard to residential development, allowing the potential to establish multiple drill platforms.
Drilling- Once target is finalised, a 1000m drill program consisting of 3 individual holes would cost approximately
1 Taylor D.H., Whitehead M.L., Olshira A and Leonard J.G. 1996. Ballarat 1:100,000 map geological report 101,
2 Horwood D.J., 2011. Oroya Mining Ltd EL 4943,
3 G. Chintock, 2008. Annual Report to
4 D'Auvergne P, 1996.
Competent Person Statement
The technical and related information in this report relates to exploration results based on information from third parties and data compiled by
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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