Announcement re Jupiter Mines

RNS Number : 7146Z

Red Rock Resources plc

19 January 2011

 



RED ROCK RESOURCES PLC

("Red Rock" or the "Company")

Announcement re Jupiter Mines Limited

Dated: 19 January 2011

Red Rock notes the announcement made by its 5.23% owned associate Jupiter Mines Limited (ASX:JMS) ("JMS") today, in which JMS announced the completion of the first phase of the planned drilling program at JMS' Mt Ida Magnetite project. Red Rock maintains a 1.5% gross production royalty in Mt Ida. Highlights of the JMS announcement included:

·     Maiden Inferred magnetite resource at Central Mt Ida is 530 million tonnes at 31.94% Fe, 
exceeding earlier expectations. The results are summarised in the table below:

	Mt	Fe%	SiO2%	Al2O3%	P%	S%
Central Mt Ida	530	31.94	45.88	1.10	0.074	0.201

         Notes: Head grade cut off 15% Fe

         Density estimated of 3.2t/m3 was applied

·     Resource was generated from 11,898 metres of drilling conducted on the Central Area only

·     The resource model of the Central Area shows six flat lying magnetite lodes extending from 50 
 to 300 metres in depth 

·     Mineralisation is open to the north and south of the tested Central Area

·     Further drill programs are planned to increase the Inferred resource by exploring the Southern  
 and Northern Areas, whilst advancing the Central Area to Measured and Indicated status

·     It is intended that the results will serve as basis for a Feasibility Study during 2012

·     The maiden resource generated for the Central Area confirms a significant magnetite project at 
 Mt Ida

The full text of the JMS announcement and its investor presentation "Building a new supplier of raw materials for the steel industry" can be accessed via the following link:

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS 

Enquiries:

Andrew Bell	0207 402 4580 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	0207 402 4580 or 07757 660 798	Red Rock Resources plc	Public and Investor Relations
Peter Trevelyan-Clark/ Ben Jeynes	020 7444 0800	Religare Capital Markets	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

 

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