RE: RNS25 Feb 2020 10:08
All is a big word.
Migori was fine until the Kenyans tried to nick it off them. Jupiter Mines was fine. El Limon was fine, payments under the royalty will now accelerate, it did well when it sold half the royalty on Mount Ida. In my humble opinion, we have got really good licenses in DRC: we just need to progress them now. The work that is required is clear and it is not expensive. The big step forward remains getting the Migori licenses back.
I know it is pointless to say this to you but if you read the RNS there is some important information in there.
The presence of Bismuth is an indicator for copper mineralisation. But.... this bit matters..
Given the risk of artisanal intrusion in the event of significant copper mineralisation being encountered in pits, Red Rock will also seek quotes for an immediate move to a third phase of exploration in the case of exploration success. This would be likely to be RC drilling, and provisional planning for such drilling assumes 4 fences at 200m intervals in area C, with 2-4 100m inclined holes, and 2 lines in each of areas A and B, for a total of 2,500m drilled.
Do some volumetric calculations on how much copper is there is we have 5% copper mineralisation. But the RNS is indicating much higher cobalt than would be usual. At Musonoi it looks like 5% copper and 0.9% cobalt ie., 80% copper and 20% cobalt. At Luanshimba it looks like it might be 55% copper and 45% cobalt (that is the proportions) not the level of mineralisation.
Anyway we will see soon enough. The work is likely to take maybe 6/8 weeks and then we should know something.
PS if you do some reading up on the history of Musonoi, you will see that in the past they extracted Palladium as well as copper and cobalt. PGM is a big thing at the moment.
DYOR
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