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Red Rock Resources - Luanshimba, DRC Geophysics Programme begins

RNS Number : 0497G
Red Rock Resources plc
20 November 2020
 

Red Rock Resources PLC

("Red Rock" or the "Company")

Geophysics Programme Begins at Luanshimba, DRC

 

20 November 2020

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and copper, announces that today a team mobilised to Red Rock's 80% owned Luanshimba license in the south-east of the Democratic Republic of Congo, to begin a  programme of geophysics to follow up the strong copper and cobalt anomalism identified in the southern part of the license by a programme of termite mound sampling  in late 2018.

The programme will be carried out under the supervision of Minerals Exploration Associates SARL ("Minex Consulting SA") and will consist of the following:

·    A 70.95 Kml ground magnetics survey on a north-south spacing of 100m and an east-west spacing of 200m to be carried out by Progress SARL;

 

·    A 12 Kml induced polarization survey on 6 lines of 2 kml each to be carried out by Progress SARL;

 

·    Provision of raw data to Ronacher McKenzie Geoscience for interpretation;

 

·    Checking of on-site artisanal activity.

The object of the survey will be to identify conductive targets and improve understanding of local structure, in order to optimise subsequent drill targeting.

Red Rock Chairman Andrew Bell comments: "The strong anomalies obtained from initial exploration in this favourable geological setting, with copper values in the regolith samples ranging up to 519 ppm and cobalt values up to 425 ppm, are likely very significant in this part of the Copperbelt and suggest the presence of copper and cobalt mineralisation at depth. Once we start pitting and drilling we are likely to have to maintain a continuous presence on site to keep artisanal activity under control, so good preparatory work including geophysics which will enable us to refine targeting and develop a cost-effective programme for subsoil exploration was a critical next step and is now under way. We are pleased to have identified and mobilised to site in these difficult times a technically strong multinational team to conduct our geophysics."  

Background

Red Rock owns 80% of the Luanshimba Project, which is situated 65 km south-east of the provincial capital of Lubumbashi in Haut-Katanga, in a 420 hectare prospecting license  (PR13513) in the Congolese Copperbelt.

The tenement is situated along a disrupted anticline with undifferentiated Roan sediments of the Mwashya Subgroup draping off a nearby basement dome, similar to some other Cu-deposits in the immediate area.  

A comprehensive termite mound sampling programme combined with reconnaissance geological mapping was conducted in 2018 over an area underlain by prospective Roan Group sediments. 452 samples were collected on a 100x100m grid, and then split, with one batch sent to ALS Laboratories in Johannesburg while the other was retained for XRF analysis.

Red Rock identified as a result of the programme 2 strongly anomalous areas that are open-ended:

·    In the southern part of the licence, a 2km long anomaly up to 500m wide striking ENE, (Trend A), follows carbonaceous shale and silicified dolomite into the nose of a disrupted anticline underlain by known Upper Roan silicified dolomite and carbonaceous shale-adjacent oxidised sandstone.

 

·    Anomalous metal assays with peak values of 519ppm Cu and 425ppm Co corroborated the XRF values and are partly coincident with above average contents of pathfinder elements Bi and V. Given the regionally low background, these results are considered indicative of likely Cu-Co mineralisation at depth.

 

·    Occasional outcrops reveal limonitic coatings and tiny cavities after sulphides along with occasional malachite that also explain the occurrence of copper-tolerant flora.

 

·    The northern anomaly, (Trend B), a SE- striking copper-cobalt anomaly some 1,400m by 300m wide, while more subdued, is still significant as it clearly mimics the regional metalliferous stratigraphic and structural trend.

Figure 1: Copper anomaly map overlaid on the RTP magnetic image

http://www.rns-pdf.londonstockexchange.com/rns/0497G_1-2020-11-20.pdf

These results were announced on 20 December 2018 and Red Rock consultants Minerals Exploration Associates SARL (Minex Consulting SA) recommended a ground geophysical survey and pitting or trenching over selected areas, to be followed up by 3,000m of reverse circulation (RC) drilling.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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                                                     

 

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