DRC Copper-Cobalt project - drilling update

RNS Number : 0103I

Red Rock Resources plc

09 August 2021

 

Red Rock Resources PLC

("Red Rock" or the "Company")

DRC Copper-Cobalt Project - Drilling Update

9 August 2021

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and copper, announces an update on the reverse circulation (RC) drill programme at the Luanshimba copper-cobalt project in the Haut-Katanga Province of the Democratic Republic of Congo.

The Luanshimba project is operated by Red Rock Galaxy SA, an 80% owned Congolese subsidiary of Red Rock.

Highlights

· Phase 1 of the programme is 2,000m of RC drilling, in holes of 60m to 100m

· Currently on hole 11, and may be extended

· Cobalt-copper oxides including heterogenite encountered in 10 holes in zones starting at depths between approximately 19m and 70m

· Handheld XRF analysis indicates significant Cobalt grades in mylonitic units but needs to be confirmed by laboratory analysis

· Pyrite encountered at bottom of some holes, indicating possibility of sulphide mineralisation at depth

· First 850km of samples being prepared for laboratory assay in South Africa

The drill programme is being carried out by Rubaco SARL, with geological support being provided by Minerals Exploration Associates SARL ("Minex Consulting SARL").

Red Rock Chairman Andrew Bell comments : "Initial progresswas slow but the drillers were able to replace the initial rig with a more powerful model, and drilling is now proceeding satisfactorily. Black oxide ores within the dolomites appear to host some copper and significant cobalt mineralisation, possibly related to a brecciated zone on the slopes of the west-dipping anticlinal structure.  

We look forward to receiving lab results, and are considering utilising the more powerful rig now on site to extend some holes to a 120-200m depth to test for copper sulphide mineralisation."  

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 in the southern part of the licence a 2km long anomaly up to 500m wide striking ENE, with anomalous metal assays with peak values of 519ppm Cu and 425ppm Co, corroborating earlier XRF values and partly coincident with above average contents of pathfinder elements Bi and V. Given the regionally low background, these results were considered indicative of likely Cu-Co mineralisation at depth.

In the north, a SE- striking copper-cobalt anomaly some 1,400m by 300m wide, while more subdued, was considered significant as it clearly mimics the regional metalliferous stratigraphic and structural trend.

70.72 line-kilometres of magnetic data was collected in December 2020 by a ground survey conducted on north-south lines with a 100m line spacing and subjected to interpretation in early 2021 by Ronacher McKenzie Geoscience of Sudbury, Ontario. This was then followed up by an induced polarisation (IP) and resistivity programme across the three target areas.

The technical information in this report has been compiled and reviewed under the supervision of Kazadi S-B. Barry (MSc), Pr.Sc.Nat., MGSSA. who is a member of the South African Council for Natural Scientific Professions. Mr. Kazadi has sufficient experience in the style of mineralisation and type of deposit under consideration. Mr. Kazadi consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Mr Kazadi is a Managing Director of Mineral Exploration Associates SARL, consultants (under the name Minex Consulting) to the Company.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

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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