Red Rock Australasia - additional project reports

RNS Number : 2067Z

Red Rock Resources plc

16 September 2020

 

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Red Rock Australasia JV - Update - Additional Project Reports

16 September 2020

Red Rock Resources Plc, the natural resource development company with direct or indirect interests in gold, manganese and base metals, announces a further operational update in respect of its Australian gold joint venture ("JV") company Red Rock Australasia Pty Ltd ("RRAL") in which POW has a 49.9% interest.  

RRAL previously commissioned and has now received historical reports and targeting assessments for its original 11 license applications, which are being used to inform the preparation of a NI 43-101 report and develop exploration programmes. 

To date the Company has set out in announcements the key findings from four historical reports covering three areas of interest, namely:

-  EL007285, the Blue Ribbon project;

-  EL007271, the Blue Whale project and

-  EL007281, the Blue Chip project

-  EL007329, the Evergreen project.

The Company has now uploaded the remaining 7 reports to the Red Rock website, which are available through the following link:

https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/

In addition, a further summary report covering the recently added license area, EL007460 ("Kilmore West") has been uploaded.

Red Rock Chairman Andrew Bell commented:

"RRAL is moving ahead with finalisation of the NI 43-101 technical report, which has been expanded to include reference to the recently acquired Kilmore West license.

Shareholders are encouraged to review the full suite of project reports where considerable evidence of gold prospectivity across the application ground is demonstrated.

In parallel with the NI 43-101 work, RRAL continue to work with Earth Resources Victoria and with RRAL's land management partners to secure the earliest possible grant of licenses, enabling the commencement of ground exploration, subject to any applicable approvals and permits.  Initially the focus is on the three license applications that have passed through the local mandatory advertising period.

Also, RRAL continues to work with advisers with regard to the potential listing of some or all of RRAL interests on a North American stock exchange, and also with third parties seeking to earn-in or joint venture with RRAL with regard to certain of its business interests.

We anticipate further updates to the market in respect of RRAL in the near term."

FURTHER JV INFORMATION:

Joint Venture Company - RRAL

RRAL is a joint venture company 50.1% owned by Red Rock and 49.9% owned by Power Metal Resources plc ("POW"). Paul Johnson, CEO of POW and Andrew Bell are directors of RRAL.

RRAL has lodged applications for twelve new gold exploration license areas covering 2,188 km² in the Victoria Goldfields of Australia as follows:

License Application Number	Project Name	Area (km2)
EL007271	Blue Whale	133
EL007281	Blue Chip	74
EL007282	Blue Sky	489
EL007285	Blue Ribbon	8
EL007294	Red Queen	130
EL007301	Mt Bute	85
EL007327	Blue Stocking	60
EL007328	Blue Yonder	168
EL007329	Evergreen	486
EL007330	Blue Angel	202
EL007385	Sardinia	4
EL007460	Kilmore West	349
Total		2,188

ONLINE MAP

Readers wishing to view the current application footprint may do so through the following link to the Red Rock website: https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/

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

OK to release

 

END

 

 

UPDKZGMLZVDGGZM