Red Rock Resources said drilling of the Berringa Gold mine project in Victoria, Australia, was going well with visible gold encountered in all three holes completed to date.
“This is very encouraging,” said chairman Andrew Bell, “and we look forward to receipt of detailed assay data as soon as possible”.
“Geologically, all drill holes completed thus far have successfully intersected the down dip and along strike extensions of the target mineralised zones.”
Red Rock is working on the Berringa project as a joint venture with Power Metal Resources.
The JV's Berringa exploration licence has been renewed for a five-year term expiring November 2027, added the statement.
Shares eased 1.6% to 0.31p.