leadf
logo-loader
viewRed Rock Resources PLC

Red Rock Resources - Red Rock Australasia - additional project reports

RNS Number : 2067Z
Red Rock Resources plc
16 September 2020
 

 

Red Rock Resources PLC

("Red Rock" or the "Company")

 

Red Rock Australasia JV - Update - Additional Project Reports

 

16 September 2020

Red Rock Resources Plc, the natural resource development company with direct or indirect interests in gold, manganese and base metals, announces a further operational update in respect of its Australian gold joint venture ("JV") company Red Rock Australasia Pty Ltd ("RRAL") in which POW has a 49.9% interest. 

RRAL previously commissioned and has now received historical reports and targeting assessments for its original 11 license applications, which are being used to inform the preparation of a NI 43-101 report and develop exploration programmes. 

To date the Company has set out in announcements the key findings from four historical reports covering three areas of interest, namely:

-      EL007285, the Blue Ribbon project;

-      EL007271, the Blue Whale project and

-      EL007281, the Blue Chip project

-      EL007329, the Evergreen project.

 

The Company has now uploaded the remaining 7 reports to the Red Rock website, which are available through the following link:

https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/

In addition, a further summary report covering the recently added license area, EL007460 ("Kilmore West") has been uploaded.

Red Rock Chairman Andrew Bell commented:

"RRAL is moving ahead with finalisation of the NI 43-101 technical report, which has been expanded to include reference to the recently acquired Kilmore West license.

Shareholders are encouraged to review the full suite of project reports where considerable evidence of gold prospectivity across the application ground is demonstrated.

In parallel with the NI 43-101 work, RRAL continue to work with Earth Resources Victoria and with RRAL's land management partners to secure the earliest possible grant of licenses, enabling the commencement of ground exploration, subject to any applicable approvals and permits.  Initially the focus is on the three license applications that have passed through the local mandatory advertising period.

Also, RRAL continues to work with advisers with regard to the potential listing of some or all of RRAL interests on a North American stock exchange, and also with third parties seeking to earn-in or joint venture with RRAL with regard to certain of its business interests.

We anticipate further updates to the market in respect of RRAL in the near term."

 

FURTHER JV INFORMATION:

Joint Venture Company - RRAL

RRAL is a joint venture company 50.1% owned by Red Rock and 49.9% owned by Power Metal Resources plc ("POW"). Paul Johnson, CEO of POW and Andrew Bell are directors of RRAL.

RRAL has lodged applications for twelve new gold exploration license areas covering 2,188 km2 in the Victoria Goldfields of Australia as follows:

 

License Application Number

Project Name

Area (km2)

EL007271

Blue Whale

133

EL007281

Blue Chip

74

EL007282

Blue Sky

489

EL007285

Blue Ribbon

8

EL007294

Red Queen

130

EL007301

Mt Bute

85

EL007327

Blue Stocking

60

EL007328

Blue Yonder

168

EL007329

Evergreen

486

EL007330

Blue Angel

202

EL007385

Sardinia

                   4

EL007460

Kilmore West

349

 

 

 

Total

 

2,188

               

ONLINE MAP

Readers wishing to view the current application footprint may do so through the following link to the Red Rock website: https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/

For further information, please contact:

Andrew Bell 0207 747 9990                                                          Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990                                                           Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396           NOMAD Beaumont Cornish Limited

Mark Treharne 0203 700 2500                                                      Broker Pello Capital Limited

 

OK to release

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDKZGMLZVDGGZM

Quick facts: Red Rock Resources PLC

Price: 0.8

Market: AIM
Market Cap: £6.57 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Red Rock Resources raises £1m to 'put rocket fuel into the engine'

  Red Rock Resources PLC's (LON:RRR) Andrew Bell talks to Proactive London about their £1m placing which will be used for their projects in Kenya, now that they have regained their license. Other projects in the Congo and Australia will also benefit from this placing and as Bell says,...

3 weeks, 4 days ago

5 min read