Last checked at 12 Sep 2012 17:09
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
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Nick Emerson | 01483 413500 | Simple Investments Ltd | Broker |