Last checked at 3 Jul 2023 15:37
Red Rock Resources Plc
("Red Rock" or the "Company")
Lithium Update- Zimbabwe
3 July 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 15 June 2023 in relation to the Company's operations in Zimbabwe.
A Certificate of Registration was last week issued in relation to the Company's application through its local subsidiary for a new lithium licence near Bikita, giving the Company a licence covering 94 hectares. Certificates for two small extension applications adding 45 hectares to the core licence in this area were also recently granted. Also near Bikita, adjacent to a purchased area where transfer is in process, registration of two small extension licence areas of 21 ha and 22 ha was recently granted.
Holding a registered licence, provided that an environmental certificate is obtained and other obligations are meet, allows mining operations. All such claims have a 12 month life and must be continuously worked to obtain renewal of title. The law also provides for conversion to a Mining Lease of longer duration.
Red Rock Chairman Andrew Bell comments: "As work continues to prepare for processing and sale at our first location, we are in parallel working to continue the process of licence grant or transfer where this is not completed.
The pegmatite-containing areas now granted are a valuable addition to our portfolio.
Zimbabwe is a top ten lithium producer, and the biggest producer in Africa, and is known for its high grade product. Red Rock aims to establish a significant footprint in the country and having already obtained an Environmental Certificate enabling it to start production at its first location, will now start the environmental impact assessment process at the new granted location."
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.