Migori Measured Mineral Resource Estimate

RNS Number : 1701Q

Red Rock Resources plc

14 October 2011

 



Red Rock Resources

Migori Measured Mineral Resource Estimate at Macalder Tailings

Date: 14^th October 2011

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Greenland and Colombia, exploration in Kenya, and interests in steel feed, uranium and rare earths, is pleased to announce a Measured Mineral Resource Estimate at the Macalder Tailings at the Migori gold/copper project in Kenya.

This Mineral Resource Estimate ('MRE') announced on 14^th October, 2011 is an update of the MRE reported by CSA Global (UK) Ltd on 19^th August 2010.

Red Rock Resources has completed the following additional work during 2010/11:

·     Re-surveying of the tailings dam extents, using a differential GPS, to sub meter accuracy.

·     Re-assaying Au and Ag grades for a selected representative portion of the samples at a different laboratory with appropriate QAQC.

·     Completion of metallurgical test work to determine the potential mill production process flow sheets and project economics.

CSA completed a review of the results of this work and has updated the 2010 MRE accordingly. The updated MRE presented in Table 1 is classified as Measured with 1.286 Million tonnes of tailings material at 1.65 g/t Au and 33.5 g/t Ag, which contains 68,000 ounces of gold and 1.385 million ounces of silver as in-situ metal. The MRE has been classified according to the standards defined in the JORC code (2004 edition).

Table 1. Migori Tailings Measured Mineral Resource Estimate as at 13^th October, 2011

Tonnes	Au g/t	Ag g/t	Au Ounces	Ag Ounces
1,286,000	1.65	33.5	68,000	1,385,000

Note: The resource is estimated using no gold grade cut-off. Appropriate top cuts have been applied.

All figures are rounded to reflect the appropriate levels of confidence.

The difference between the current 2011 MRE and the previous 2010 MRE are due to the following changes:

1.    A more accurate volume survey of the tailings dam, which resulted in a 10% reduction in tonnage, from 1.424 million tonnes to 1.286 million tonnes.

2.    Inclusion of additional assay data from the adjacent smaller tailings dam resulting in a minor increase in average Au grade, from 1.64 g/t to 1.65 g/t.

3.    Re-assaying of a representative sample of the original drill hole sample data with appropriate QAQC for both Au and Ag allowing CSA to estimate the Ag grade for the resource.

As a result of this work the confidence in the Au grade, the original assay results and the contained volume of the tailings dam has been significantly increased. When combined with the positive results from the metallurgical test work, CSA has upgraded the MRE classification from Indicated to Measured.

Competent Person Statement

The information in this release relates to in-situ Mineral Resources based on information compiled by Mr Malcolm Titley of CSA Global (UK) Ltd. He is a member of the Australasian Institute of Mining and Metallurgy and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) and is a "Qualified Person" as defined in the Note for Mining and Oil & Gas Companies, June 2009, of the London Stock Exchange. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release.

Mr Titley consents to the inclusion of such information in this release in the form and context in which it appears. 

Enquiries:

Andrew Bell	020 7402 4580 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	020 7402 4580 or 07757 660 798	Red Rock Resources plc	Public and Investor Relations
Peter Trevelyan-Clark/ Ben Jeynes	020 7444 0800	Religare Capital Markets	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

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

 

END

 

 

MSCEAXEDFLXFFFF