Kenya Exploration Update

RNS Number : 7076X

Red Rock Resources plc

07 January 2022

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Kenya Exploration Update

Mikei Gold Project - Drill Programme Assay Results

7 January 2022

Red Rock Resources Plc ("Red Rock" or "the Company"), the natural resource development company with interests in gold and base metals, announces the results of the first batch of 950 samples from its recently completed 2021 phase 1 RC drilling exploration programme in the mid KKM prospect at the Mikei Gold Project ("MGP") in Kenya.

HIGHLIGHTS:

· A total of 20 drill holes totalling 2093 meters were completed as part of phase 1 RC Drilling Programme

· Sampling and logging was done at 1m intervals by our in-house geological team prior to being sent to SGS limited in Mwanza, Tanzania for accredited laboratory assay

· Results are of first batch of 950 samples from 9 out of the 20 drill holes. Final batch of Phase 1 drilling samples awaiting customs clearance.

· Highlight intercepts include (complete collar and assay tables available at the bottom of this release).

o  KKRC102: 17m @ 1.02 g/t Au from 116m to 133m (including 1m @ 3.15 g/t Au)

o  KKRC082: 6 m @ 1.17 g/t Au from 8m to 13m (including 1m @ 3.75 g/t Au)

o  KKRC101: 4m @ 1.37 g/t Au from 83m to 87m (including 1m @ 2.7 g/t Au)

Red Rock Chairman Andrew Bell comments : "The drill programme was designed to test possible extensions of the mineralised zones and to infill some possible gaps where holes might previously have been drilled too far apart to allow an assumption of continuity of mineralisation in the Resource calculation.

A more powerful compressor had to be brought in part way through the programme, and the first nine holes for which we have results were those drilled while waiting for it to arrive. A comprehensive picture of the results of the programme awaits the results of the final eleven holes, including some deeper holes.

However these first nine holes were extremely encouraging, and take us some way towards our objectives for the programme. Seven of the drillholes intercepted gold mineralisation, including five at good grades.

We look forward to being able to announce the remaining results before long."

Programme Data:

Drill Programme assay table

Hole ID	From (m)	To (m)	Interval (m)	Au g/t
KKRC082	7	13	6	1.17
Incl.	12	13	1	3.75
KKRC083	98	101	3	0.5
KKRC084	No Significant intercepts
KKRC085	73	74	1	1.87
KKRC098	65	68	3	0.5
KKRC099	64	66	2	0.88
incl.	65	66	1	1.4
KKRC100	No Significant intercepts
KKRC101	83	87	4	1.37
incl.	84	85	1	2.71
	107	109	2	0.9
KKRC102	116	133	17	1.02
incl.	124	125	1	3.17

*All thicknesses are downhole lengths and true thickness are not known at this stage

Drill Programme collar table

Hole ID	Azimuth	Dip	Hole Depth (m)	Easting	Northing	Elevation
KKRC082	25 0	-600	100	643862	9889435	1191
KKRC084	250	-600	110	643967	9889409	1201
KKRC085	250	-600	85	643997	9889422	1203
KKRC101	250	-600	109	645382	9888747	1264
KKRC102	250	-600	133	645283	9888773	1261
KKRC083	250	-600	109	643897	9889444	1191
KKRC098	250	-600	85	644912	9889999	1258
KKRC099	250	-600	70	644955	9889041	1250
KKRC100	250	-600	60	644919	9889034	1249

*Projection: UTM Zone 36 South Arc 1960

QA/QC

Sampling was done at intervals of 1 metre, and the majority of samples were dry with good to excellent recoveries. The company included certified reference materials (CRM) in the sample stream and constitutes approximately 5-10% of the sample stream. Samples from this drilling programme were submitted to SGS Limited in Mwanza, Tanzania which is an ISO certified and accredited laboratory for sample preparation and analysis. In addition to the company's CRMs, the laboratory has additional checks.

Background

The MGP (100% beneficially owned by Red Rock) comprises two prospecting licences which cover approximately 245 km2, namely PL/2018/0202 and PL/2018/0203, over the Migori Greenstone Belt, and are located along the northern margin of the Tanzanian Craton. The licences extend 63 km along the strike of the belt, which also hosts the Kilimapesa Gold treatment plant several km to the east of the Company's licenses. The North Mara Gold Mine, which is operated by Barrick Gold, is located 30 km to the south of the MGP in Tanzania.

Regional exploration in the project area began in the early 1930s and culminated in the identification and subsequent mining of the Macalder volcanogenic massive sulphide (VMS) base metal mine.

In 2010, Red Rock began the extensive task of file organisation, data digitisation and compilation of available historical data, following which CSA Global (UK) Ltd performed cross-checks and validation steps prior to loading it into a Structured Query Language (SQL) database using Datashed. During 2011 and 2012, Red Rock undertook an infill drilling programme at all five of the lode gold prospects; MK, Kakula-Kalange-Munyu (KKM), Kakula-Kalange-Munyu West (KW), Nyanza (NZ), and Gori Maria (GM) within PL/2018/0202.The Report published earlier this year documented the results of Mineral Resource estimation work initially conducted in 2011 and 2012 and revised in 2021 in order to report the Mineral Resources according to JORC (2012) guidelines. 

JORC (2012) differs from earlier editions of the JORC Code in that for a Mineral Resource to be estimated it requires the application of "reasonable prospects of eventual economic extraction" ("RPEEE") principles. This has resulted in the case of the Mikei MRE in the calculation of pit shells supported by conceptual cost and gold price forecast parameters. Any material outside or below the reporting pit shell was updated as "Not Classified" since it did not meet the criteria to be reported as a Mineral Resource.
 

The total Mineral Resource Estimate, at both Inferred and Indicated levels, was estimated at:

15.13 Mt @ 1.49 g/t Au with contained metal content of 723 KOz Au

All prospects, except GM, were classified as Indicated and Inferred Mineral Resources. GM was classified as Inferred only, mainly due to the relatively low average RC drill recovery of 62%.

Due to the uncertain lateral extent and depth of artisanal mining at the Mikei prospects, and the lack of topographic data to accurately deplete the Mineral Resource, all oxidised material was classified as Inferred Mineral Resources.

The Mineral Resource was reported as that material within the RPEEE pit shells, and above a cut-off grade of 0.5 g/t Au. The Mineral Resource was reported as of 18 January 2021.

The technical information in this release has been reviewed by Mr Joseph Komu, a member of AusIMM and the Project Manager of the Project. He is a member of a recognised professional organisation and has sufficient relevant experience to qualify as a qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies published by AIM.

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

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited

Jason Robertson 020 7374 2212   Broker First Equity Limited 

 

END

 

 

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