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Red Rock and Power Metal joint venture in Australia engages consultants to move gold assets on to the next stage

Red Rock and Power Metal are both staffed by highly experienced entrepreneurial explorers

Red Rock Resources PLC -

Red Rock Australasia Pty Ltd, a joint venture between Red Rock Resources PLC (LON:RRR) and Power Metal Resources PLC (LON:POW) has appointed a consultant to produce a National Instrument 43-101 report in respect of eleven licence applications in the Victoria Goldfields.

A second consultant is also finalising a "Geological Review and Development of Exploration Strategy" on the exploration license areas.

In addition, Red Rock Australasia has applied for a further small four square kilometre gold exploration license, to be named the Sardinia prospect.

"RRAL is progressing its understanding of the gold tenements in Victoria Australia and the appointments of OreTeck and Caracle Creek Chile SpA, and the formation of a Technical Advisory Board, are important steps in that process,” Red Rock Resources chairman Andrew Bell said in a statement. “The NI 43-101 report is an essential precursor of any decision to list the RRAL assets.”

Paul Johnson, chief executive of Power Metals, was also enthusiastic.

"Our Australia gold JV is progressing at some pace and across multiple work streams all designed to enhance our understanding of the JV interests in the Victoria Goldfields,” he said.

Quick facts: Red Rock Resources PLC

Price: 0.47 GBX

AIM:RRR
Market: AIM
Market Cap: £3.27 m
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