Ivory Coast and Colombia Update

RNS Number : 5527D

Red Rock Resources plc

30 January 2015

 



Red Rock Resources Plc

("Red Rock" or the "Company")

Ivory Coast and Colombia Update

30^th January 2015

Red Rock Resources plc, the mining and exploration company with gold interests in Colombia, Kenya and Ivory Coast is pleased to provide an update on its gold and manganese exploration licences in Ivory Coast.

Ivory Coast

Alepe

The first phase of regional soil geochemical sampling across the company's 392.6km² Alepe licence in south eastern Ivory Coast has completed as planned. The programme's first phase focused on the eastern portion of the licence with 238 samples collected along a 100m by 2km grid (see Figure 1). The samples will soon be dispatched to the SGS laboratory in Burkina Faso for assay analysis.

During sampling, geologists noted extensive sheared rock units and more than 300m strike length of quartz veining considered prospective for gold. The observations are consistent with the existing interpretation that the licence contains NE-SW structural targets along what is thought to be a faulted Birimian meta-sedimentary sequence wrapped around a granite intrusion. The area is considered a possible cross-border extension of Ghana's gold-rich Sefwi Greenstone Belt, host to Newmont's c. 17Moz Ahafo Gold Mine.

A soil sampling programme covering the western portion of the licence will commence shortly. Soil sampling of the forested central portion of the Alepe licence is planned as a later phase.

When available, analysis of assay results will form the basis of follow-up work on the licence, likely to include infill soil sampling. Further updates will be announced in due course.

Figure 1 - Alepe Soil Sampling Map

http://www.rns-pdf.londonstockexchange.com/rns/5527D_-2015-1-29.pdf

Dabakala - gold and manganese

As announced previously, the company is conducting assay analysis of 648 composite samples collected during an earlier soil geochemical sampling programme on the 393.4km² Dabakala licence in north central Ivory Coast. The ground is considered highly prospective for both gold and manganese and the immediate vicinity has been targeted by Newmont, Randgold and Resolute Mining (see Figure 2).

Figure 2 - Dabakala Soil Sampling Map

http://www.rns-pdf.londonstockexchange.com/rns/5527D_1-2015-1-29.pdf

Licence Applications - gold

Red Rock continues to progress additional licence applications pending with the Ivory Coast Ministry.

In-house desktop studies on the areas recently revealed that a major gold producer and explorer has identified a significant zone of anomalous gold soil geochemistry both immediately adjacent to and along strike from areas Red Rock has under application. The anomalous zone has a total strike length of approximately 60km and includes extensive, mostly continuous, areas with grades >500ppb Au. The finding has reinforced the company's confidence in the prospectivity of the region and the company's approach to ground selection.

Colombia

Preparations are under way for execution of deal documentation. The Company has received and reviewed draft agreements and made agreed changes. 

Company Chairman Andrew Bell comments:

"Our immediate focus is on the Ivory Coast exploration where exploration results from some of our more prospective areas will soon be available. The abundance of opportunities in what we believe is a very strong exploration portfolio means that we must direct cost-effective efforts to making discoveries this year if we are to keep our early mover advantage. We have made a good start in that."

For further information, please contact:

Andrew Bell 0207 747 9990 or 0776 647 4849

Roland Cornish/ Rosalind Hill Abrahams 0207383 5100

Jason Robertson 01293 517744

Christian Pickel  02031288817

Chairman Red Rock Resources Plc

NOMAD Beaumont Cornish Limited

Broker Dowgate Capital Stockbrokers Ltd.

Media Relations MHP Communications

Competent Person's Statement

The information in this report that relates to Exploration Results is based on information reviewed by Mr Gary Hurst (MSci), who is a Fellow of The Geological Society of London and Member of The Society of Economic Geologists. Mr Hurst is an employee of Red Rock Resources plc and has sufficient experience which is relevant to the style of mineralisation under consideration, and to the activities being undertaken. Mr Hurst has reviewed the information in this announcement and consents to the inclusion of the information in the form and context in which it appears.

 

END

 

 

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