Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video 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: 0.0475
Bid: 0.045
Ask: 0.05
Change: -0.0025 (-5.00%)
Spread: 0.005 (11.111%)
Open: 0.05
High: 0.05
Low: 0.0475
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
27th Jul 20209:00 amRNSPrice Monitoring Extension
22nd Jul 20205:27 pmRNSZoom Meeting
16th Jul 20202:12 pmRNSAustralasia - Blue Ribbon Project Update
14th Jul 202011:37 amRNSHolding(s) in Company
8th Jul 20202:30 pmRNSAustralian Gold Joint Venture - Operational Update
8th Jul 20202:18 pmRNSUpdate on Jupiter Mines Iron Ore Projects
24th Jun 20207:00 amRNSAustralia Gold - Joint Venture Update
3rd Jun 20207:00 amRNSAustralian Gold - Joint Venture Update
19th May 202012:08 pmRNSReplacement: Red Rock Australasia
19th May 202010:00 amRNSRed Rock Australasia - License Applications
11th May 202011:21 amRNSUpdate on issue of equity
4th May 202012:00 pmRNSRed Rock Australasia Update
4th May 20207:00 amRNSHolding(s) in Company
4th May 20207:00 amRNSChange of Board Role
29th Apr 20201:45 pmRNSJupiter preliminary results and dividend declared
29th Apr 20207:00 amRNSAustralian Joint Venture
14th Apr 202010:02 amRNSRe-start of production at Jupiter Mines
9th Apr 20203:25 pmRNSIssue of Shares
31st Mar 202010:58 amRNSTotal Voting Rights
31st Mar 20207:00 amRNSHalf-year Report
25th Mar 20205:20 pmRNSHolding(s) in Company
25th Mar 202010:05 amRNSImpact on COVID-19 Pandemic
20th Mar 202011:53 amRNSUpdate on admission of shares
12th Mar 20204:44 pmRNSSecond Price Monitoring Extn
12th Mar 20204:37 pmRNSPrice Monitoring Extension
10th Mar 20206:00 pmRNSUpdate on Central Africa and Issue of Equity
25th Feb 20207:00 amRNSDRC Copper and Cobalt Exploration Update
7th Feb 20203:03 pmRNSHolding(s) in Company
3rd Feb 20205:35 pmRNSHolding(s) in Company
29th Jan 20203:56 pmRNSResult of AGM
7th Jan 20207:00 amRNSJupiter Mines - Update
31st Dec 201911:01 amRNSHolding(s) in Company
24th Dec 20197:00 amRNSFinal Results
17th Dec 20194:58 pmRNSRenewal of Convertible Loan Notes
31st Oct 201911:04 amRNSJupiter Mines - update and dividend declaration
30th Oct 20197:00 amRNSAppointment of Corporate Broker
23rd Oct 201911:44 amRNSHolding(s) in Company
19th Sep 20197:00 amRNSUpdate on Kenyan Interests
9th Sep 20197:00 amRNSJupiter Mines - Update
2nd Aug 201912:25 pmRNSJupiter Mines - Update
12th Jul 20194:40 pmRNSSecond Price Monitoring Extn
12th Jul 20194:35 pmRNSPrice Monitoring Extension
3rd Jun 20197:00 amRNSHolding(s) in Company
29th May 20196:27 pmRNSHolding(s) in Company
28th May 20192:26 pmRNSHolding(s) in Company
23rd May 20199:01 amRNSJupiter Mines update
1st May 20192:58 pmRNSTotal Voting Rights
30th Apr 20191:36 pmRNSJupiter Mines - Update
30th Apr 20197:00 amRNSHolding(s) in Company
23rd Apr 20196:25 pmRNSIssue of Equity

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.