focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRed Rock Resources Regulatory News (RRR)

Share Price Information for Red Rock Resources (RRR)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.05
Bid: 0.045
Ask: 0.055
Change: 0.00 (0.00%)
Spread: 0.01 (22.222%)
Open: 0.05
High: 0.05
Low: 0.05
Prev. Close: 0.05
RRR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Cobalt/Copper Joint Venture - Congo

6 Mar 2019 12:03

RNS Number : 0533S
Red Rock Resources plc
06 March 2019
 

Red Rock Resources PLC

("Red Rock" or the "Company")

Cobalt/Copper Joint Venture - Congo

 

6 March 2019

Further to the announcement of 19 December 2018, Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and battery metals, announces developments in relation to its cobalt/copper joint venture (the "JV Project") in the Democratic Republic of Congo.

At a meeting with representatives of Vumilia Pendeza S.A. ("VUP") and Bring Minerals S.A.U. ("B.Min"), the joint venture partners, Red Rock Resources Congo S.A.U. ("RRRC"), a wholly owned local subsidiary of the Company, signed on Friday 2nd March 2019 the "Statutes of VUP Musonoi Mining SA" ("VMM S.A."), the joint venture company through which the JV Project will be pursued.

RRRC owns 50.1% of VMM S.A.

RRRC, VUP and B.Min also executed a "Joint Venture Contract relating to the exploitation of PEs no. 4962 (2 carrés), no. 2360 (4 carrés) and no. 663 (6 carrés) in the Provinces of Haut-Katanga and Lualaba", which formalises the relationship of the parties.

With the execution, notarisation, and registration of these documents the joint venture becomes fully effective.

 

Andrew Bell, Chairman of Red Rock, comments: "With the elections there having passed peacefully, we have again stepped up the pace in Congo and put in place the final documents allowing us to pursue the JV Project.

 

Musonoi, the central part of the old Musonoi superpit, of which Glencore's KOV mine represents the western part, abutting our western boundary, and the same company's T17 mine represents the eastern part, adjoining us to the east, is our immediate focus.

 

This exceptionally prospective tenement, of which at this early stage the obvious size and grade comparator appears to be Nzuri Copper's Kalongwe project, currently under offer, has the potential to have a transformative impact on Red Rock."

 

Information on Musonoi: The Musonoi tenement lies south of Kolwezi in an area of historically important copper and cobalt mining. It was drilled in the 1930s and 1940s seeking oxide ore with a cut-off grade of 2.5% copper. Production took place down to a maximum depth of 105m, and the pit was partially backfilled after production ceased.

 

The principal hypotheses on which Red Rock is working are that (a) high grade ore evidenced by earlier drilling but not within the known pit outline remains in place, (b) additional ore may be delineated in sulphides and at a lower cut-off grade (c) a potential lower orebody exists associated with the Kamoto dolomite horizon that was not encountered in previous shallow drilling of the central part of the license.

 

 

 

 

 

 

Table 1: Musonoi location south of Kolwezi http://www.rns-pdf.londonstockexchange.com/rns/0533S_1-2019-3-6.pdf

 

Table 2: Old drilling (83 holes, 83 Drillholes completed, 13,054.3m, 9 X-sections, 100m x 50m drill grid, oxide mineralisation targeted). http://www.rns-pdf.londonstockexchange.com/rns/0533S_2-2019-3-6.pdf

 

Image 3: 3D model showing in situ ore in purple (FSSR + FNSR + North Ridge) lying outside mine outline (shown in brown) http://www.rns-pdf.londonstockexchange.com/rns/0533S_3-2019-3-6.pdf

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

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

Jason Robertson 0207 374 2212 Broker First Equity Limited  

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCLLFELVTIRIIA
Date   Source Headline
30th May 20236:17 pmRNSIssue of Equity and Total Voting Rights
30th May 20235:17 pmRNSIssue of Equity and Total Voting Rights
24th May 202312:09 pmRNSIssue of Equity and Total Voting Rights
23rd May 20234:40 pmRNSHolding(s) in Company
16th May 20235:03 pmRNSHolding(s) in Company
12th May 20234:31 pmRNSHolding(s) in Company
12th May 20237:00 amRNSIssue of Equity, PDMR/Director Holdings, TVR
11th May 20237:00 amRNSIssue of Equity and Total Voting Rights
5th May 20233:45 pmRNSVictoria Goldfields - Berringa Drilling Results
4th May 20232:40 pmRNSIssue of Shares and Total Voting Rights
14th Apr 20237:00 amRNSIssue of Equity
4th Apr 20237:00 amRNSPlacing and TVR
3rd Apr 20237:00 amRNSHalf-year Report
31st Mar 20234:27 pmRNSTotal Voting Rights
28th Mar 20237:00 amRNSEIA submitted for Zimbabwe lithium mining project
15th Mar 20232:36 pmRNSIssue of Equity
15th Mar 202312:15 pmRNSVictoria Goldfields, Australia - drilling update
8th Mar 20237:00 amRNSAsset Review and Current Developments
24th Feb 202310:05 amRNSIssue of Equity
16th Feb 202310:00 amRNSVictoria Goldfields - Beringa Update
10th Feb 20235:26 pmRNSResult of AGM
6th Feb 202311:00 amRNSPrice Monitoring Extension
11th Jan 20234:50 pmRNSNotice of AGM
9th Jan 202311:00 amRNSVictoria Goldfields Australia - Update
6th Jan 20237:00 amRNSBurkino Faso Exploration Update - Bilbale Project
29th Dec 202212:14 pmRNSFinal Results
19th Dec 202212:39 pmRNSDevelopment of Lithium Assets
16th Dec 202211:05 amRNSSecond Price Monitoring Extn
16th Dec 202211:00 amRNSPrice Monitoring Extension
15th Dec 20227:00 amRNSFund Raising
13th Dec 20227:00 amRNSDrilling begins at Historic Berringa Gold Mine
8th Dec 20222:16 pmRNSResult of Meeting
23rd Nov 20222:50 pmRNSNotice of GM
22nd Sep 20222:30 pmRNSAcquisition of Berringa Gold Mine Complete
21st Sep 20226:21 pmRNSPlacing, Appointment of Joint Broker and TVR
5th Sep 20227:00 amRNSUpdate on drilling at Bilbale
19th Aug 202210:41 amRNSSecond Tranche of CLNs and Warrants
15th Aug 20224:12 pmRNSResult of Meeting
10th Aug 202211:10 amRNSDirector/PDMR Shareholding
8th Aug 202210:17 amRNSDirector/PDMR Shareholding
5th Aug 20227:00 amRNSAsset Review and Current Developments
1st Aug 20222:00 pmRNSAssessment of Ajax Mine Potential
28th Jul 20227:00 amRNSNotice of GM
25th Jul 20227:00 amRNSIssue of convertible notes and warrants
6th Jul 20222:00 pmRNSVictoria Gold JV - Berringa Mine Acquisition
4th Jul 202212:48 pmRNSTotal Voting Rights
27th Jun 20223:30 pmRNSKimono Cobalt Project, DRC
13th Jun 20222:30 pmRNSDrill Results from Mt Bute, Victoria, Australia
8th Jun 20225:52 pmRNSIssue of Equity and Total Voting Rights
24th May 20227:00 amRNSVictoria Gold JV - Key Licence granted

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.