Update

RNS Number : 1474P

Red Rock Resources plc

05 February 2019

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Update

5 February 2019

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and minerals, announces an update.

·     First phase of work at Musonoi Cu/Co mine at Kolwezi, DRC, concluded

·     Data from 83 old drill holes, 9 cross sections, and open pit shell digitised

·     Recreated and modelled historic orebody at 2.5% Cu and 1% Cu cut offs

·     Seeking old core to resample

·     Consultants to advise on bringing mineralisation to JORC Resource category

Democratic Republic of Congo

Further to the announcement of 30 January 2019, the Company has concluded the first phase of work on the Musonoi license (Permis d'Exploitation no. 4962) that forms one of the assets of its Copper/Cobalt Joint Venture. Historic data including 83 old drillholes and nine cross sections on the property have been obtained from Gécamines and digitised, enabling the Company to recreate the historic orebody and open pit outline.

3-D models were then created, and the old high grade upper orebody and lower orebody modelled, mineralisation calculated, and depletion from historic mining calculated.    

Models and tables for in situ mineralisation, both at the original Gécamines 2.5% copper cut-off grade and at a 1% cut-off grade, were then derived.

The information and calculations will now be given to external resource consultants to assess, with results from any core that the Company is able to identify and re-test. The consultants will then advise on any further work required for them to calculate a Resource compliant with the Joint Ore Reserve Committee (JORC) 2012 Code for calculating Mineral Resources and Reserves.

Red Rock Chairman Andrew Bell comments: "The derivation of a 3-D model that appears to support some of the assumptions on which we invested is an important staging post on our journey. The next stage of interpretive work is still more important, because it will give us grade and tonnage information we can share with the investing public. We aim to start work on this immediately." 

Competent Person Statement

The technical and related information in this report relates to exploration results based on information from third parties and data compiled by Steffen Kalbskopf Pr.Sci.Nat, FGSSA and Barry Kazadi (MSc), Pr.Sc.Nat, MGSSA. who are members of the South African Council for Natural Scientific Professions. Mr. Kalbskopf and Mr Kazadi have sufficient experience in the style of mineralisation and type of deposit under consideration. Mr. Kalbskopf and Mr Kazadi consent to the inclusion in this announcement of the matters based on their information in the form and context in which it appears. Mr Kazadi is a managing Director of Mineral Exploration Associates SARL Consultants (Minex Consulting) to the Company. Mr Kalbskopf is a self-employed consultant and managing director of Hidden Treasure Consulting and a senior associate of Minex Consulting, both independent of Red Rock.

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

Jason Robertson 0207 374 2212                                                Broker First Equity Limited                                   

 

END

 

 

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