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(Alliance News) - Red Rock Resources PLC is to begin a new round of exploration work at a licence in the Democratic Republic of Congo, it said on Tuesday.
Towards the end of 2018, Red Rock said its first drilling programme at the PR13513 licence had identified two open-ended areas "strongly anomalous" for copper and cobalt.
The company is to now embark on a second phase of drilling, London-based Red Rock said.
"We obtained very promising results from the initial exploration in a favourable geological setting, suggesting the presence of copper and cobalt mineralisation at depth," said Red Rock Chair Andrew Bell.
"As the wet season ends, we want to take the opportunity to follow up these earlier results and find out more about the mineralisation and the lithological units in which it is contained. A controlled and modular programme will enable us to test hypotheses and step up activity quickly if justified."
"We are in one of the world's most prospective environments for the minerals we seek, working with skilled and experienced local partners, and approach this new phase of our activity in the DRC with considerable excitement," Bell continued.
Shares in Red Rock were 7.5% lower on Tuesday afternoon in London at a price of 0.30 pence each.
By George Collard; georgecollard@alliancenews.com
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