Last checked at 15 Jun 2023 12:00
Red Rock Resources Plc
("Red Rock" or the "Company")
Lithium Update
15 June 2023
Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, copper, cobalt, lithium and other minerals, announces an update to the announcement of 28 March 2023 in relation to the Company's operations in Zimbabwe.
Following submission of the Environmental Impact Assessment ("EIA") for the Company's first Zimbabwe project and stakeholder meetings, an environmental certificate has now been issued. The Company can therefore start production and sale of lithium product.
Work will be carried out in parallel to permit our other Zimbabwe licences for mining.
Red Rock Chairman Andrew Bell comments: "Now that we have our environmental clearance, mining can begin on site. We are in a position to start shipping product immediately, and will make announcements as we pass various milestones.
Zimbabwe is a top ten lithium producer, and the biggest producer in Africa, and is known for its high grade product. This is a significant milestone for Red Rock, and we are assessing the financial implications as we test material and delineate further the pegmatites within our licences."
In Burkina Faso, the transfer of the Boulon licence to the Company has now been completed, The BRGM (Bureau de Recherches Géologiques et Minières) and BUMIGEB (Bureau des Mines et de la Géologie du Burkina Faso) carried out a regional geochemistry survey on stream sediments in south-western Burkina Faso to identify potentially mineralised zones as targets for future prospecting operations following receipt of World Bank funding in 2011. A channel of lithium-bearing leucogranites was identified that runs through one of our gold licences. The centre of this mapped channel, containing some of the highest lithium anomalies, underlies our licence.
In Ivory Coast, one of our applications contains historically mapped lithium occurrences in pegmatites, and lies within the area in the west of the country where recent lithium exploration has taken place.
GLOSSARY
Leucogranite: light coloured granitic igneous rocks low in iron and magnesium, including some pegmatites
Pegmatite: very coarse textured igneous rock, usually felsic
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman 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
Bob Roberts 0203 8696081 Joint Broker Clear Capital Corporate Broking
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU, which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed in accordance with the Company's obligations under Article 17.