Drill Programme at DRC Copper-Cobalt Project

RNS Number : 3959D

Red Rock Resources plc

29 June 2021

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Drill Programme Begins at DRC Copper-Cobalt Project

29 June 2021

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and copper, announces, further to the announcement of 25 May 2021, that a  reverse circulation (RC) drill programme has begun today to take the first step towards delineating a resource on 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. The programme is for an initial 2,000m of RC drilling, in 20 or more holes of 60m to 100m, and may be extended.

Samples will be sent for copper and cobalt 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 : "Having finished camp and well construction and site preparation, the Company received drillers on site last week and drilling of the first hole began on Sunday.

We are optimistic of the potential of this site and given the exploration results to date we have designed the initial programme to test for a shallow depth mineralised zone. Some of the IP results are suggestive of a system that extends to greater depths, which may require additional testing in a follow-up programme.

We are in the right area and the right geological setting, and have followed a disciplined exploration approach which has given increasingly positive indications. Drilling however is the ultimate test. This is the first project in the DRC which we have taken from a greenfields prospect to drilling, our first opportunity to work with these drillers, and the first test of our exploration approach to the Copperbelt.

The world needs a great deal more copper and cobalt. The Congo is an improving but still difficult country and we had to overcome many obstacles in our first years there, but it is the best place to find these vital commodities."  

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 and related information in this report relates to exploration results based on information from third parties and data compiled by 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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