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Greenland Update

12 Sep 2012 17:09

RNS Number : 1403M
Red Rock Resources plc
12 September 2012
 

Red Rock Resources Plc

("Red Rock" or the "Company")

Greenland update

12 September 2012

Red Rock Resources plc, the mining and exploration company with an iron ore project in Greenland, a producing gold mine in Colombia, advanced gold and copper exploration in Kenya, and interests in steel feed, uranium and rare earths, reports on progress at its Melville Bugt iron exploration project in Greenland.

The 2012 Greenland drill programme has been completed, one day ahead of the current schedule. In total, 4,061 metres were drilled in 27 holes: twelve holes were drilled at Havik East, six at Havik North-East, five at De Dodes West, and four at Haematite Nunatak. All holes that reached their target depths intersected iron formation, and more than 40% of the core recovered is iron formation. Demobilisation will now take place.

The results of half-core laboratory assay from the first drillholes of the program from the Havik East Prospect have been received, and detailed analysis of these in comparison with previously-announced field XRF results is underway; initial indications are that, on average, an increase in grade can be expected.

The Company is encouraged by the progress achieved in this maiden drill campaign and after the completion of a Competent Person site visit undertaken in August 2012, SRK Consulting (UK) Ltd have submitted a proposal for the completion of a Mineral Resource Estimate for the Havik East, and potentially the Havik North East Prospects to be completed in due course.

The information in this announcement that relates to Exploration Results has been reviewed by Mr Richard Evans, BSc(Hons), who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Evans is a consultant to the Company and an employee of its associate Resource Star Limited, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as a "Qualified Person" as defined in the Note for Mining and Oil & Gas Companies, June 2009, of the London Stock Exchange. Mr Evans has reviewed this announcement and consents to the inclusion herein of the matters based on his information in the form and context in which they appear.

 

Enquiries:

 

Andrew Bell

020 7402 4580 or

07766 474849

 

Red Rock Resources plc

Chairman

Sandra Spencer

020 7402 4580 or

07757 660 798

 

Red Rock Resources plc

Press Relations

Gerry Beaney / Daniela Amihood

020 7383 5100

Grant Thornton Corporate Finance

Nominated Adviser

 

Nick Emerson

01483 413500

Simple Investments Ltd

Broker

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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