Last checked at 18 Aug 2023 16:08
Red Rock Resources Plc
("Red Rock" or the "Company")
Lithium Update- Zimbabwe
18 August 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 announcements of 15 June 2023 and 3 July 2023 in relation to the Company's operations, through its subsidiary African Lithium Resources (Pvt) Ltd ("ALR"), in Zimbabwe.
Key current tasks are the beaconing and procuring of EIAs for recently granted licence areas, establishment and testing of representative samples, procurement of crushing and beneficiation equipment, procuring of export licences, and establishment of sales channels.
Discussion has begun with sales agents in China for sale of lithium ores, and a potential contract miner/partner has sent an experienced South African consultant geologist who from 10th to 14th August with ALR personnel conducted due diligence at ALR's locations in Zimbabwe.
Mr Dirk Benade, B.Sc., has been engaged as Owner's Representative and a director of ALR. A geologist with 50 years experience of exploration, management, assaying and open pit and underground mining, largely in Zimbabwe. He has worked for, among others, Utah Development Company (now BHP-Utah) Anglo American, Messina Transvaal Development and Falcon Mines. Dirk was Managing Director of AIM-listed African Gold Plc, and Senior Geologist of African Consolidated Resources Plc from the time of its AIM listing in 2006 up to 2008. He has more recently been involved in private company ventures and consulting work.
Red Rock Chairman Andrew Bell comments: "Regulatory changes over recent months mean that we are focussed on sales to the export market, which realise higher prices but require some combination of selective mining and beneficiation.
Dirk comes to us highly recommended and his depth of experience and knowledge and international business background makes him a good complement to our enthusiastic local team."
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.