Red Rock Resources

Kenya Exploration Update

RNS Number : 8977U
Red Rock Resources plc
08 December 2021
 

Red Rock Resources PLC

("Red Rock" or the "Company")

Kenya Exploration Update

Progress of Drilling and Other Fieldwork

 

8 December 2021

Red Rock Resources Plc ("Red Rock" or "the Company"), the natural resource development company with interests in gold, manganese and copper, announces, further to its announcements of 30 June 2021 and 16 September 2021, an update on its exploration programmes at the Mikei Gold Project ("MGP") in Kenya.

HIGHLIGHTS:

· 1744m of Reverse Circulation drilling so far completed at the KKM Central prospect in the Western Licence PL/0202/2018 where a 2000m infill and extension drilling programme is in progress.

 

· 17 holes drilled at depths of up to 133m

 

· First batch of 950 samples sent for testing at the SGS laboratory in Mwanza, Tanzania

 

· In the Eastern Licence PL/0203/2018, and following up the 115.2 line Km of Gradient Array Induced Polarisation (IP) ground geophysics, three prospective targets at Francis-3, Lake Bush and Lake Bush BIF were further tested by 13.3 line Km of Pole-Dipole IP

 

· Gradient Array IP programme was begun at the Homestead prospect, of which 32.6 line Km has been completed and at JuaKali-Kehancha 5 prospect, where 10.5 line Km has been completed.

 

· 53 line Km of magnetic survey work at the Kurutiange prospect was completed before noise on 2 of the 3 receiver sets necessitated sending the equipment for recalibration

 

· Environmental Impact Assessments have begun on the next set of infill drill targets including a new target at Konguru in the Western Licence, with the fieldwork expected to be completed by Christmas

 

· Applications are being prepared for a Mining Licence and a Mineral Processing Licence

 

· The Company continued active engagement with stakeholders

 

Red Rock Chairman Andrew Bell comments : "Progress continues and we look forward to starting to get laboratory results from our current drilling.

The Chairman of the Mineral Rights Board and his team, and the Governor of Migori, accepted our invitations to visit the camp and the project. We were honoured to welcome them last week.

We are identifying and progressing a number of new or underexplored targets as well as working to expand the existing resource envelope and identify areas of higher grade within it or nearby. Previous diamond drilling at Konguru has been too widely spaced to allow a resource calculation, and our planned drilling there is a priority.

Our work this year has enabled us to identify some key priority drill targets in the Eastern Licence.

The progress made since we were able to come back to the project a year ago has been significant, and the professionalism of the team we are building in Kenya is one of our best assets. We have great confidence in the potential and prospects of the Mikei Gold Project, and will look for ways to accelerate its progress in 2022."

Discussion - Geophysics

Data sets from ground magnetics work earlier this year and data from previous exploration were further reviewed and several targets in the Eastern License, were selected for follow-up using ground geophysics, the goal being to generate targets for drilling.

The follow-up targets were separated into smaller prospects and on each prospect a grid was prepared for Ground IP. The prospects include:

· Masurura Prospect

· Homestead Prospect

· Kehancha-JuaKali Prospect

· Carlos Prospect

· Kurutyange prospect

· Allenby Prospect

· Masaba Prospect.

 

FIGURE ONE

 

Map 1: PL/0203/2018 Details of Follow-Up IP Grids

http://www.rns-pdf.londonstockexchange.com/rns/8977U_1-2021-12-7.pdf

 

FIGURE TWO

 

Map 1A: PL/0203/2018 Details of Follow-Up IP Grids

http://www.rns-pdf.londonstockexchange.com/rns/8977U_2-2021-12-7.pdf

 

These works have been planned to run throughout the next reporting year of 2022, with drilling targets being generated and drilled in parallel as the work proceeds.

 

Pole Dipole IP/R Masurura

A follow-up Pole Dipole IP-Resistivity survey was planned and completed over the Masurura chargeability anomalies. The survey was conducted with a Dipole spacing of 25 meters. A total of 13.3 line-Kilometres was covered. Inversions and Interpretations are being prepared.

FIGURE THREE

Map 2: Masurura Pole-Dipole IP Survey

http://www.rns-pdf.londonstockexchange.com/rns/8977U_3-2021-12-7.pdf

Gradient IP/R Homestead and Kehancha-Juakali Prospects

Gradient IP survey programme began at Homestead prospect and 32.6 and 10.5 line-Kilometres have been completed respectively.

FIGURE FOUR

Map 3: Homestead Gradient IP Grid

http://www.rns-pdf.londonstockexchange.com/rns/8977U_4-2021-12-7.pdf

FIGURE FIVE

Map 3A: Homestead Resistivity and Chargeability - Surveyed Sections

http://www.rns-pdf.londonstockexchange.com/rns/8977U_5-2021-12-7.pdf

Table 1 : Induced polarization survey summary

PROSPECT

SURVEY TYPE

COVERAGE

Masurura

Gradient

115 Km - earlier in 2021

Masurura

Pole- Dipole

13.3 Km - completed

Homestead

Gradient

32.6 Km done - in progress

Kehancha-Juakali

Gradient

10.5 Km done - in progress

 

Magnetic Survey in Kurtyange

A grid was prepared covering the geochemical anomalies previously identified in the JuaKali, Kihancha 5, Carlos, Homestead, Kurutiange, Masaba and Allenby prospects.

The magnetic survey began in Kurutiange and 53 km was covered before the survey was discontinued due to breakdown of two pieces of magnetometer equipment. The equipment has been sent back to the manufacturer and the programme will resume on their return.

Background

The MGP (100% beneficially owned by Red Rock) comprises two prospecting licences which cover approximately 245 km2, namely PL/2018/0202 and PL/2018/0203, over the Migori Greenstone Belt, and are located along the northern margin of the Tanzanian Craton. The licences extend 63 km along the strike of the belt, which also hosts the Kilimapesa Gold treatment plant several km to the east of the Company's licenses. The North Mara Gold Mine, which is operated by Barrick Gold, is located 30 km to the south of the MGP in Tanzania.

Regional exploration in the project area began in the early 1930s and culminated in the identification and subsequent mining of the Macalder volcanogenic massive sulphide (VMS) base metal mine.

In 2010, Red Rock began the extensive task of file organisation, data digitisation and compilation of available historical data, following which CSA Global (UK) Ltd performed cross-checks and validation steps prior to loading it into a Structured Query Language (SQL) database using Datashed. During 2011 and 2012, Red Rock undertook an infill drilling programme at all five of the lode gold prospects; MK, Kakula-Kalange-Munyu (KKM), Kakula-Kalange-Munyu West (KW), Nyanza (NZ), and Gori Maria (GM) within PL/2018/0202.The Report published earlier this year documented the results of Mineral Resource estimation work initially conducted in 2011 and 2012 and revised in 2021 in order to report the Mineral Resources according to JORC (2012) guidelines. 

JORC (2012) differs from earlier editions of the JORC Code in that for a Mineral Resource to be estimated it requires the application of "reasonable prospects of eventual economic extraction" ("RPEEE") principles. This has resulted in the case of the Mikei MRE in the calculation of pit shells supported by conceptual cost and gold price forecast parameters. Any material outside or below the reporting pit shell was updated as "Not Classified" since it did not meet the criteria to be reported as a Mineral Resource.

The total Mineral Resource Estimate, at both Inferred and Indicated levels, was estimated at:

15.13 Mt @ 1.49 g/t Au with contained metal content of 723 KOz Au

All prospects, except GM, were classified as Indicated and Inferred Mineral Resources. GM was classified as Inferred only, mainly due to the relatively low average RC drill recovery of 62%.

Due to the uncertain lateral extent and depth of artisanal mining at the Mikei prospects, and the lack of topographic data to accurately deplete the Mineral Resource, all oxidised material was classified as Inferred Mineral Resources.

The Mineral Resource was reported as that material within the RPEEE pit shells, and above a cut-off grade of 0.5 g/t Au. The Mineral Resource was reported as of 18 January 2021.

 

The technical information in this release has been reviewed by Mr Joseph Komu, a member of AusIMM and the Project Manager of the Project. He is a member of a recognised professional organisation and has sufficient relevant experience to qualify as a qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies published by AIM.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information, please contact:

Andrew Bell 0207 747 9990                                                        Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396       NOMAD Beaumont Cornish Limited

Jason Robertson 020 7374 2212    Broker First Equity Limited 

 

Glossary 

 

Gradient array  An IP technique used for reconnaissance of large areas.

 

Induced Polarisation (IP)   A geophysical imaging technique used to identify the electrical chargeability of subsurface materials. An electric current is transmitted into the subsurface through two electrodes, and voltage is monitored through two other electrodes.

 

Pole-Dipole IP     A more detailed IP technique also giving better depth information

 

 

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