Red Rock Australasia Update

RNS Number : 8328L

Red Rock Resources plc

04 May 2020

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Red Rock Australasia Boosts Victoria License Holdings

4 May 2020

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and minerals, announces an update on its joint venture subsidiary Red Rock Australasia Pty Ltd ("RRAL").

The Company through RRAL has applied for additional ground at EL007281, EL007282, and EL007285, three new gold exploration license areas in the Victoria Goldfield of Australia. The first two license areas abut RRAL's existing application EL 007271 to the south, east and north and the new licenses amount to an additional exploration area of 581 sq km.  

Red Rock Chairman Andrew Bell comments :

"With these new applications the footprint of RRAL at 714 sq km becomes one of the largest in the Ballarat goldbelt. There is no area of the licenses that does not have evidence of gold mineralisation and in most cases recorded production from previous alluvial workings, leads, shafts or drilling. In certain areas the workings go down 100m or more.  

The partners in the RRAL joint venture are setting up a website for RRAL where detailed information and references for the projects will be posted.

The Victoria Goldfields are attracting increasing attention and corporate activity which we expect to lead to a sharp rise in exploration activity. The ground held by the RRAL JV contains recognised high quality prospects in the heart of the "Golden Triangle". Ground around Bendigo is tightly held, and following developments in the last week it would no longer be possible to assemble any significant position close to Ballarat either.

RRAL expects to become a significant and active explorer in the Victoria Goldfields ."   

Further Information

The license applications made to date are:

EL007271 - 133 sq km

EL007281 - 74 sq km

EL007282 - 499 sq km

EL007285 - 8 sq km

The application areas are shown in Figure 1 below:

  http://www.rns-pdf.londonstockexchange.com/rns/8328L_1-2020-5-4.pdf

Fig 1: EL Applications in Victoria by RRAL

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

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

 

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