Exploration Update - Migori Project, Kenya

RNS Number : 2731V

Red Rock Resources plc

11 December 2013

 



Red Rock Resources plc

Exploration Update - New exploration targets identified

Migori Project, SW Kenya

11 December 2013

Red Rock Resources Plc ("Red Rock" or the "Company"), the mining and exploration company with a producing gold mine in Colombia, an iron ore project in Greenland and gold exploration in Kenya, announces progress on the Migori Project in SW Kenya (JORC 2004-compliant Indicated and Inferred Mineral Resources: 1.2Moz Au @ 1.26g/t Au), a project where Red Rock owns, controls or has options over approximately  47.3% of Mid Migori Mining Company Ltd ("Mid Migori"), the owner of the 2 special prospecting licences ("SPLs") which the company operates. Upon completion of a Bankable Feasibility Study ("BFS"), Red Rock will hold over 75% attributable interest in Mid Migori.

Highlights

Following comprehensive reassessment of all available geochemical data, Red Rock is pleased to announce that:

·     12 new regional exploration targets have been identified from gold anomalies in soil and grab samples

         http://www.rns-pdf.londonstockexchange.com/rns/2731V_-2013-12-11.pdf

·     15 existing regional targets across the licence areas have been reprioritized with improved confidence, including a 3.5km Au anomaly in soils over an area with little exploration to date.

·     A revised trend is proposed for the Mikei Shear Zone, which identifies two parallel zones of mineralisation:

o  The Main Zone, containing KKM and KKM-West Resources in addition to the Steels and Blackhalls-Three Nuns-Masara regional targets (10.6km Au anomaly length, over 2 sections)

o  The discontinuous North Zone contains the MK and Gori Maria Resources, and potentially extends east to include the Kakasera vein (5.5km Au anomaly length)

·     Refined understanding and definition of the anomalous geochemical trend and structural controls over the Mikei Resources will lead to improved targeting for future Resource expansion and nearby exploration.

A full report may be found on the Company's website and at the following link:

http://www.rns-pdf.londonstockexchange.com/rns/2731V_1-2013-12-11.pdf

The results of this work will be integrated with the conceptual geological models to inform on targeting and prospect rankings for the Migori licences which will in turn be used for prioritising and planning future regional exploration work.

Company Chairman Andrew Bell comments: "The cost effective method of "data mining" demonstrated here shows how efficient our technical team can be with a constrained budget. The work lead to the identification of new regional exploration targets and confirms there is still significant potential to the vastly under-explored Migori greenstone belt. With continued exploration some of these findings are expected to lead to an increased resource base of the Migori Gold Project; both through extension of currently defined resource areas and through the discovery of new areas to test for resource."

Enquiries:

Andrew Bell	020 747 9990 or 07766 474849	Red Rock Resources plc	Chairman
Colin Aaronson, David Hignell & Ed Thomas	020 7383 5100	Grant Thornton UK LLP	Nominated Adviser
Nick Emerson	01483 413500	SI Capital Limited	AIM Broker
Guy Wheatley	020 7382 8416	Beaufort Securities Ltd	Joint Broker
Rupert Trefgarne	020 3128 8817	MHP Communications	Media Relations

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

Qualified Person Statement

The information in this announcement and in the "Geochemistry Data Review" to which this statement is linked that relates to exploration targets, exploration results, or Mineral Resources is based on information reviewed by Mr William Bekoe, a Member of The Australasian Institute of Mining and Metallurgy. Mr Bekoe is a full time employee of the Red Rock group of companies and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Qualified Person as defined in the "AIM Note for Mining and Oil and Gas Companies". Mr Bekoe consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

END

 

 

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