Update - Greenland

RNS Number : 8707N

Red Rock Resources plc

08 September 2011

 



RED ROCK RESOURCES PLC

Update - Exploration in Greenland

Dated: 8 September 2011

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Greenland, Colombia and Kenya, with interests in steel feed, uranium, and rare earths, reports on exploration in Greenland.

Greenland

The short but intense arctic field season has been safely concluded on the Melville Bugt Iron Ore Project, northwest Greenland. Geological traversing, sampling, prospect scale mapping and geophysical surveys were carried out in an extensive area of Neoarchaean crystalline shield, which correlates with the iron-rich rocks hosting the Mary River Iron Ore project of northern Baffin Island, Canada.

Banded to massive haematite iron formation was encountered in a number of areas, with the most extensive identified to date as a series of four linked occurrences, with a potential strike length of 7.5 km.  

A number of occurrences of high grade magnetite iron formation were also identified within the license area, but not fully explored due to limited surface exposure.

Perhaps the most significant outcrop had a traced strike length of 800m on surface, with an estimated true thickness of 250m. The largest exposed iron formation to date was traced 2.5km along strike and had an estimated true thickness of 100m.

13,170 line kilometers of airborne magnetic and radiometric survey were flown over the license area by Aeroquest Airborne Ltd. Line spacing was between 200m and 1.6km. Full processing and interpretation is underway.

The Company is pleased with the field XRF results, so remains positive on the future of the project. In total 232 iron ore samples were scanned on site with a Niton XRF analyzer, of which 192 samples from prospective areas ranged from 20.0% to 69.5% Fe, averaging 32% Fe. It should be noted that Niton Handheld XRF results should be viewed with caution and may differ from actual assays reported by wet chemical analysis using ICP, INNA and XRF methods. Assay results are pending.

The Company considers the 2011 exploration programme to have been highly successful in confirming the existence of a significant iron ore province at Melville Bugt, northwest Greenland, in swiftly identifying a number of possible early targets for the delineation of economic mineralization, and in identifying the further work required in many areas.

Following receipt and analysis of sample and geophysical results, a full report will be released.

The information in this release has been reviewed and approved for release by Richard Evans, a consultant geologist to the Company, and a Member of the Australian Institute of Mining and Metallurgy.

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.

 

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