Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. 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: 0.0525
Bid: 0.05
Ask: 0.055
Change: 0.00 (0.00%)
Spread: 0.005 (10.00%)
Open: 0.0525
High: 0.0525
Low: 0.0525
Prev. Close: 0.0525
RRR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

DRC Copper and Cobalt Exploration Update

25 Feb 2020 07:00

RNS Number : 9715D
Red Rock Resources plc
25 February 2020
 

Red Rock Resources PLC

("Red Rock" or the "Company")

DRC Copper & Cobalt Exploration Update

 

25 February 2020

 

Red Rock Resources Plc (LON:RRR), the natural resource development company with interests in gold, manganese and minerals, announces a second phase of exploration on license PR13513 in the Copperbelt in the south of the Democratic Republic of Congo ("DRC") 65 km SE of Lubumbashi and near the Zambian border.

HIGHLIGHTS:

·; The license is prospective for copper and cobalt mineralisation, and an initial programme, the results of which were announced on 21 December 2018, identified two open-ended areas strongly anomalous for copper and cobalt

 

·; Based on these results, Mineral Exploration Associates SARL Consultants (Minex Consulting) has recommended a second phase of exploration

 

·; Pitting will be undertaken in the areas C and A in Figure 1 below, on north-south lines spaced at 100m intervals with pits 40m apart

 

·; Follow up trenching will be undertaken between pits where mineralisation is encountered or further lithostratigraphical information can be obtained

 

·; Geophysics will be undertaken over the north-west sector west of 589000 E and north of 866600 S, to be followed by pitting in area B once geophysical results have been interpreted

 

Red Rock Chairman Andrew Bell comments: "We obtained very promising results from the initial exploration in a favourable geological setting, suggesting the presence of copper and cobalt mineralisation at depth.

 

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."

 

Figure 1: Proposed areas for pitting and trenching

 

http://www.rns-pdf.londonstockexchange.com/rns/9715D_1-2020-2-24.pdf

 

 

 

 

Background information:

The Luanshimba Project is a permis de recherches PR13513 held 80% by Red Rock and 20% by a local partner.

The tenement is situated along a disrupted anticline with highly prospective undifferentiated Roan sediments draping off a nearby basement dome, similar to some other productive Cu-deposits in the immediate area.

A comprehensive termite mound sampling programme combined with reconnaissance geological mapping was conducted in late 2018 over an area underlain by prospective Roan Group sediments. 452 samples were collected on a 100x100m grid, and then split, with one batch sent to ALS Laboratories in Johannesburg while the other was retained for XRF analysis.

Building on a recent regional aeromagnetic and soil sampling survey by a former ground holder, Red Rock has now identified as a result of the programme 2 strongly anomalous areas that are open-ended:

·; In the southern part of the licence, a 2km by 500m anomaly striking ENE, (Trend A), following carbonaceous shale and silicified dolomite into the nose of a disrupted anticline underlain by known Upper Roan silicified dolomite and carbonaceous shale adjacent oxidised sandstone.

 

·; Anomalous metal assays with peak values of 519ppm Cu and 425ppm Co corroborate and exceed the XRF values and are partly coincident with above average contents of pathfinder elements Bi and V. Given the regionally low background, these results are considered indicative of likely Cu-Co mineralisation at depth.

 

·; Occasional outcrops reveal limonitic coatings and tiny cavities after sulphides along with occasional malachite that also explain the occurrence of copper-tolerant flora.

 

·; The northern anomaly, (Trend B), a SE- striking copper-cobalt anomaly some 1,400m by 300m wide, while more subdued, is still significant as it clearly mimics the regional metalliferous stratigraphic and structural trend.

 

Figure 2: Copper anomaly map overlaid on the RTP magnetic image

http://www.rns-pdf.londonstockexchange.com/rns/2720L_2-2018-12-21.pdf

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.

 

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

Tim Sohal 0203 700 2500 Broker Pello Capital 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
 
 
DRLPPUPUPUPUGBC
Date   Source Headline
14th Nov 20131:59 pmRNSIssue of Shares & Purchase of Jupiter Mines Shares
8th Nov 20131:14 pmRNSUpdate
9th Oct 20134:43 pmRNSConvertible Bond Conversion
9th Oct 20134:40 pmRNSUpdate
4th Oct 20133:16 pmRNSDelisting of Jupiter Mines from ASX
20th Sep 20135:08 pmRNSGreenland Update
18th Sep 20135:43 pmRNSIssue of Convertible Note. Cancellation of options
9th Sep 20134:03 pmRNSAppointment of Broker
9th Sep 20137:00 amRNSUpdate
5th Sep 20133:48 pmRNSResource Star Ltd Update
30th Aug 20135:02 pmRNSUpdate
27th Aug 20134:28 pmRNSConvertible Bond Conversion & Options Cancellation
8th Aug 20135:23 pmRNSIssue of Shares and Convertible Note
8th Aug 20135:21 pmRNSHolding(s) in Company and Change of Name of Broker
5th Aug 20134:35 pmRNSUpdate
2nd Aug 20138:54 amRNSResource Star Ltd - Binding Term Sheet Signed
23rd Jul 201312:51 pmRNSUpdate
5th Jul 20139:07 amRNSFurther sale of shares in Jupiter Mines
2nd Jul 201310:22 amRNSBoard Change
12th Jun 20133:19 pmRNSKenya update
13th May 20137:00 amRNSPlacement of Shares
9th May 20132:24 pmRNSUpdate
4th Apr 20134:34 pmRNSIssue of Shares under Share Incentive Plan
4th Apr 201311:36 amRNSIssue of Equity
28th Mar 20137:01 amRNSHalf Yearly Report
11th Mar 20135:50 pmRNSIssue of Equity
18th Feb 20134:35 pmRNSPrice Monitoring Extension
8th Feb 20135:53 pmRNSUpdate on Proposed Sale of Interest in Greenland
1st Feb 20134:35 pmRNSPrice Monitoring Extension
1st Feb 20134:28 pmRNSIssue of Equity
29th Jan 20136:01 pmRNSGrant of Options
11th Jan 20135:55 pmRNSAdmission of Shares - Replacement
8th Jan 201312:55 pmRNSUpdate on Greenland and Jupiter
21st Dec 201211:05 amRNSOperational Update
20th Dec 20125:30 pmRNSPlacement of Shares and Loan Refinancing
19th Dec 20125:49 pmRNSPlacement of Shares
19th Dec 20125:49 pmRNSGreenland Havik JORC Mineral Resource Estimate
17th Dec 20127:00 amRNSIssue of Equity
14th Dec 20122:13 pmRNSKenya update
6th Dec 20125:14 pmRNSGreenland update
29th Nov 20121:51 pmRNSResult of AGM
28th Nov 201212:01 pmRNSProposed Sale of Interest in NAMA Greenland Ltd.
21st Nov 201212:43 pmRNSJupiter Mines update
21st Nov 201211:15 amRNSIssue of Equity
14th Nov 201212:09 pmRNSUpdate
8th Nov 20121:59 pmRNSJupiter Mines - Mt Ida Project Update
29th Oct 20122:18 pmRNSGreenland Update
19th Oct 20127:00 amRNSFinal Results
17th Oct 20126:15 pmRNSSale of Shares in Jupiter Mines
16th Oct 20126:23 pmRNSGreenland Update

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.