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: 0.0475
Bid: 0.045
Ask: 0.05
Change: 0.00 (0.00%)
Spread: 0.005 (11.111%)
Open: 0.0475
High: 0.05
Low: 0.0475
Prev. Close: 0.0475
RRR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ivory Coast and Colombian Update

10 Dec 2014 15:34

RNS Number : 4253Z
Red Rock Resources plc
10 December 2014
 



Red Rock Resources Plc

("Red Rock" or the "Company")

Ivory Coast and Colombia Update

10th December 2014

Red Rock Resources plc, the mining and exploration company with gold interests in Colombia, Kenya and Ivory Coast is pleased to provide an update on its gold and manganese exploration licences in Ivory Coast.

 

Ivory Coast

 

On 18th September 2014, Red Rock announced it had purchased the rights to three gold exploration licences and four additional pending exploration permits in Ivory Coast through the acquisition of Nemex Resources CI SARL and Barclay Resources SARL. Recently, the company acquired exploration data previously gathered from the licence areas and is pleased to provide the following summary of work completed to date and plans for the coming months.

Dabakala

The Dabakala licence covers 393.4km2 in north-central Ivory Coast and occupies part of the Ouango-Fetini Greenstone belt and associated granites. The ground is considered highly prospective for both gold and manganese and the immediate vicinity has been targeted by Newmont, Randgold and Resolute Mining.

The area comprises thrusted, thick units of highly altered greenstones wrapped around granitic intrusions and the emerging depositional model is analogous to Randgold's c. 5.8Moz Tongon Gold Deposit in northern Ivory Coast.

Although regional geological mapping was carried out in 1999, the licence area received limited exploration until Nemex carried out a preliminary soil geochemical sampling programme over most of the license area in late 2013, collecting approximately 1,200 samples along a 2km by 100m spaced grid. Samples were then collated into approximately 650 composite samples soon to undergo assay analysis.

Along Dabakala's eastern margin, a 17km long Banded Manganese Formation (BMF) ridge is considered a target for Manganese deposits. The ridge will be a focus of future field programmes alongside follow up assessment of any Au anomalies evident from the pending soil geochemical results.

Alepe

The Alepe licence covers 392.6km2 in south eastern Ivory Coast and contains a NE-SW faulted Birimian meta-sedimentary sequence wrapped around a granite intrusion. The licence area contains more than 30km of structural target in ground considered a potential cross-border extension of Ghana's gold-rich Sefwi Greenstone Belt, host to Newmont's c. 17Moz Ahafo Gold Mine.

Recently, a Red Rock team mobilised from Abidjan to complete a preliminary soil geochemical sampling programme across the licence area, the results of which will be announced in due course and will form the basis of follow-up work on the licence.

Abengourou

The Abengourou licence covers 399.6km2 in eastern Ivory Coast and is positioned along a 35km long, NNE-trending sheared corridor containing magnetic intrusive rocks.

Nemex carried out a regional soil geochemical programme across Abengourou, followed by infill programmes over five anomalous areas, leading to the application for an extension to the southwest corner of the licence to capture an expected continuation along the structural trend defined by "Anomaly 5". Future work will focus on follow-up testing of the existing soil anomalies in additional to soil geochemical sampling of the licence extension, once granted.

A presentation on the Ivory Coast granted licenses may be found at:  http://www.rrrplc.com/files/5714/1822/3164/Ivory_Coast_Project_Presentation.pdf

Colombia

Due to the travel arrangements of the parties progress on concluding the sale of the Company's interests in Four Points Mining SAS has not been sufficient for the provisional closing date of 15 December 2014 to be met. Red Rock will be travelling to meet the purchaser in the U.S. early next week, and a further update will follow.

Company Chairman Andrew Bell comments:

"The commencement of our exploration work in Ivory Coast, a country with great potential for gold discoveries, is a milestone in our development. In the past, in strong markets, our exploration activity was in less active countries. Now in poor markets we have been able to take positions in a country that is the focus of major mining company interest. In ground selection, Nemex benefited from the insights of individuals with outstanding local geological knowledge and were able to acquire some highly prospective ground as a result. They followed this up with good preliminary exploration programmes and have generated promising early results. With our Alepe soil sampling programme now underway and the Dabakala soil samples collected by Nemex soon to undergo assay analysis, we look forward to a stream of results over the coming months. Other applications for exploration ground proceed. It is an exciting stage of our move into Ivory Coast."

For further information, please contact:

 

Andrew Bell 0207 747 9990 or 0776 647 4849

Roland Cornish/ Rosalind Hill Abrahams 0207383 5100

Jason Robertson 01293 517744

Christian Pickel 02031288817

Chairman Red Rock Resources Plc

NOMAD Beaumont Cornish Limited

 

Broker Dowgate Capital Stockbrokers Ltd.

Media Relations MHP Communications

 

Qualified Person's Statement

 

The geological information in this report is based on information reviewed by Mr Gary Hurst (MSci), who is a Fellow of The Geological Society of London and Member of The Society of Economic Geologists. Mr Hurst is an employee of Red Rock Resources plc and has sufficient experience which is relevant to the style of mineralisation under consideration, and to the activities being undertaken. Mr Hurst has reviewed the information in this announcement and consents to the inclusion of the information in the form and context in which it appears.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCTMBATMBJBBTI
Date   Source Headline
29th Apr 20248:19 amRNSUpdate
22nd Apr 20247:00 amRNSIssue of Equity, Directors' Dealings and TVR
11th Apr 20247:00 amRNSIssue of Equity
5th Apr 20247:00 amRNSDRC and Gold Assets Update
28th Mar 20247:00 amRNSHalf-year Report
13th Mar 20247:59 amRNSConditional agreement, Australian gold subsidiary
6th Mar 20247:00 amRNSDRC and Gold Assets Update
27th Feb 20247:00 amRNSCo-operation in Next Phase at Bilbale
20th Feb 20243:26 pmRNSHolding(s) in Company
19th Feb 20247:00 amRNSResult of AGM
14th Feb 202412:21 pmRNSDRC and Australia Gold Asset Update
7th Feb 20246:10 pmRNSHolding(s) in Company
5th Feb 20243:45 pmRNSDRC Arbitration Process Continues
2nd Feb 202410:24 amRNSAppointment of Consultant
24th Jan 20242:03 pmRNSReplacement: West African Gold Licences Update
24th Jan 20247:00 amRNSCentral and West African Assets
19th Jan 20247:00 amRNSNotice of AGM
20th Dec 20237:00 amRNSFinal Results
15th Dec 20232:05 pmRNSHolding(s) in Company
14th Dec 20237:00 amRNSIssue of Equity, Total Voting Rights
12th Dec 20231:27 pmRNSHolding(s) in Company
11th Dec 20234:53 pmRNSIssue of Equity and Update
28th Nov 20237:00 amRNSWest African Gold Licences - Update
17th Nov 20235:25 pmRNSResult of Meeting
15th Nov 20232:09 pmRNSLithium Update - Exports
14th Nov 20233:03 pmRNSAsset review - current developments
1st Nov 202312:07 pmRNSNotice of GM
19th Oct 202312:00 pmRNSConvertible Loan Note Issue: first tranche closing
13th Oct 20233:12 pmRNSCentral Africa Update and comment on share price
20th Sep 20237:00 amRNSLithium Samples - Zimbabwe
4th Sep 20236:28 pmRNSHolding(s) in Company
31st Aug 20235:54 pmRNSTotal Voting Rights
22nd Aug 20233:50 pmRNSExercise of Convertible Loan Notes, TVR
18th Aug 20234:08 pmRNSLithium Update - Zimbabwe
7th Aug 20237:00 amRNSConvertible Loan Notes extension, conversion, TVR
2nd Aug 20232:21 pmRNSHolding(s) in Company
3rd Jul 20233:37 pmRNSLithium Update - Zimbabwe
3rd Jul 20232:34 pmRNSHolding(s) in Company
30th Jun 20234:03 pmRNSHolding(s) in Company
22nd Jun 20237:00 amRNSIssue of Equity and Total Voting Rights
21st Jun 20234:00 pmRNSHolding(s) in Company
21st Jun 202310:16 amRNSIssue of Equity and Total Voting Rights
20th Jun 20233:49 pmRNSHolding(s) in Company
19th Jun 20231:29 pmRNSResult of AGM
19th Jun 202312:30 pmRNSHolding(s) in Company
16th Jun 20234:00 pmRNSHolding(s) in Company
16th Jun 20232:57 pmRNSGrant of First Cote D'Ivoire Licence
15th Jun 202312:00 pmRNSLithium Update
2nd Jun 20233:27 pmRNSHolding(s) in Company
2nd Jun 20232:48 pmRNSNotice of General Meeting

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.