LONDON (Alliance News) - Red Rock Resources PLC said Tuesday it has concluded the first phase of work at its Musonoi copper and cobalt mine in Kolwezi in the Democratic Republic of the Congo.
Historic data including 83 old drill holes and nine cross sections on the property have been obtained and digitised, enabling the company to recreate the orebody and open pit outline at 2.5% copper and 1% cobalt cut offs.
The company was then able to model a 3D sample of the mine, supporting the firm's anticipated expectations of 2.5% copper and 1% cobalt.
Chair Andrew Bell said: "The derivation of a 3D model 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."
Red Rock shares were trading down 0.8% at 0.62 pence each on Tuesday afternoon.