Aircore drilling

RNS Number : 1185B

Red Rock Resources plc

11 April 2012

 



RED ROCK RESOURCES PLC

SIGNIFICANT INITIAL GOLD RESULTS FROM REGIONAL AIRCORE DRILLING AT THE MIGORI PROJECT IN KENYA

HIGHLIGHTS

·    Significant initial results have been received from laboratory analysis of an 8,500m regional aircore 
drilling of the weathered zone at the Migori Project.

·    New prospects have been defined, with five samples from three areas registering 1.0g/t Au or more 
in this untargeted regional sampling; including within a coherent anomalous zone of greater than 0.1g/t Au that is 1.5km in strike and 0.5km wide.

·    Results from a further seven samples across four areas exceed 0.25g/t Au.

·    Further trace element analysis and geological interpretation to occur.

Red Rock Resources plc, ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya, Costa Rica and Colombia, and interests in steel feed and uranium, is pleased to announce significant preliminary results have been returned from a two part aircore (AC) drilling program at its Migori Project.

During 2011, a total of 8,560m of aircore drilling was completed in a number of selected areas across both SPL122 and SPL202

http://www.rns-pdf.londonstockexchange.com/rns/1185B_-2012-4-11.pdf

 

The first part of the program investigated WNW-ESE trending structures in the Nyatworo region in the far north-western portion of the Project area. The second part of the program was designed to test the regional geochemical signature of a selected portion of the eastern tenement, along strike from known mineralisation in the Mikei Gold Project, which is currently undergoing a Resource Estimate update.

	Nyatworo	Eastern Areas
Holes Planned	521	321
Holes Drilled	448	321
No. of metres	6,430	2,130
No. of Samples	1,123	860

Sampling consisted of key horizons identified within the weathering profile, and the end of hole sample, usually at the limit of penetration. Detailed analysis of trace element results and geological interpretation is currently underway, but with leached zones observed in the weathering profile and areas of cover it is likely that any historical surficial sampling was ineffective.

Nyatworo

448 AC holes were completed for a total of 6,430m on a 40m x 100m grid spacing at the previously unexplored Nyatworo region, located in the northwest corner of the Company's Migori Project. Drilling revealed a deeply weathered meta-volcanic sequence, which is locally subject to artisanal mining and is locally overlain by lake sediments from Lake Victoria. Results have so far identified two new prospects of greater than 1g/t Au, one of which is located within a coherent anomalous zone of greater than 0.1g/t Au over a 1,500m x 500m area, sub-parallel to stratigraphy and likely regional shearing. There are a further three areas in Nyatworo, that show results of greater than 0.25g/t Au, warranting future follow up work.

Significant gold values from Nyatworo:

Hole ID	Northing	Easting	From (m)	To (m)	Au (g/t)
NYT072	9 900 448	638 873	1	2	0.46
NYT072	9 900 448	638 873	2	3	1.32
NYT100	9 899 884	639 260	2	2.2	0.24
NYT125	9 899 770	639 652	8	8.5	0.98
NYT309	9 902 069	639 476	20	21	0.55
NYT340	9 901 569	639 666	2	3	0.39
NYT416	9 800 512	640 423	7	8	0.26
NYT430	9 900 980	640 723	2	3	1.84
NYT444	9 900 777	640 837	1	2	0.28
NYT447	9 900 885	640 894	12	12.4	0.96

(Grid is UTM zone 36 in ARC1960)

Eastern Areas

321 AC holes have been completed for a total of 2,130m on a 200m x 800m grid. The program was designed as a first pass geochemical test for the region. All assay results have been received and initial analysis has already revealed two potential areas for future work, with cut off grades of >0.1g/t Au, including one new prospect at greater than 1g/t Au, where results peak at 1.6g/t Au.

Significant gold values from the Eastern Areas:

Hole ID	Northing	Easting	From (m)	To (m)	Au (g/t)
AC077	9 874 715	672 579	4	5	1.61
AC079	9 874 898	672 659	2	3	0.11
AC102	9 875 309	671 965	4	5	0.13
AC237	9 877 674	664 270	1	2	0.29
AC237	9 877 674	664 270	2	3	0.11
AC314	9 880 548	659 413	6	6.5	0.14
AC315	9 880 640	659 453	3	4	0.1

(Grid is UTM zone 36 in ARC 1960)

Future Work

The results shown are preliminary with further analysis of results needed to gauge the full potential of the area. Detailed analysis of trace element geochemistry has commenced. Results will be integrated with geology, structural interpretations and geophysics as part of a broader geological study of the area. Comparison with all potential similar mineralisation styles in Tanzania will be included. An integrated report detailing results and potential targets will be produced, with further follow up exploration including drilling to be planned.

Background Information on the Migori Gold Project

The Migori Project in Kenya covers 300km² and 60km of strike length of the Archaean Migori greenstone belt which is highly prospective for gold mineralisation. The Project is located immediately along strike from Goldplat Plc's Lolgorien Gold Project. The NI 43-101 resource from 2006 has been validated for KKM Main, leading to an increase in the resource estimate of 5-10%, with on-going validation of other resources. The measured JORC resource of 68,000 Oz Au for the Tailings Project was also announced at this time. The Company expects further results to be announced from the exploration of the Barnabas Prospect in the near future.

Chairman's Statement

Andrew Bell, Chairman of Red Rock, comments that; "Initial analysis of the data has already picked out promising targets in areas where highly anomalous results were returned. We expect that continuing interpretation will identify further targets. The objective of this regional program has been to prioritise targets for future exploration in order to increase the gold resource base of the Company."

-- ENDS --

For further information contact:

Andrew Bell	020 7099 5840 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	020 7099 5840 or 07757 660 798	Red Rock Resources plc	Public and Investor Relations
Philip Davies/David Porter	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.

Competent Person Statements

The information in this report that relates to Exploration Results is based on information reviewed by Mr Richard Evans, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Evans is an employee of the Red Rock Group of Companies and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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". Mr Evans consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This report contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information might include, among other things, statements with respect to the Company's business strategy, plans, objectives, performance, outlook, growth, shareholder value, projections, targets and expectations, Mineral Reserves and Resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, uranium prices, demand for uranium, and currency exchange rates. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast' and similar expressions. Persons reading this report are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Annual Report. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results.

 

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