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)

Share Price is delayed by 15 minutes
Get Live Data
0.0255    0.00 (0.00%)
Bid:
0.024
Ask:
0.027
Spread: 0.003 (12.50%)
Market Cap: £2.44m
RRR Live PriceLast checked at - London Stock Exchange

Intraday Red Rock Resources Share Chart

Luanshimba, DRC Geophysics Programme begins

20 Nov 2020 12:21

RNS Number : 0497G
Red Rock Resources plc
20 November 2020
 

Red Rock Resources PLC

("Red Rock" or the "Company")

Geophysics Programme Begins at Luanshimba, DRC

 

20 November 2020

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and copper, announces that today a team mobilised to Red Rock's 80% owned Luanshimba license in the south-east of the Democratic Republic of Congo, to begin a programme of geophysics to follow up the strong copper and cobalt anomalism identified in the southern part of the license by a programme of termite mound sampling in late 2018.

The programme will be carried out under the supervision of Minerals Exploration Associates SARL ("Minex Consulting SA") and will consist of the following:

· A 70.95 Kml ground magnetics survey on a north-south spacing of 100m and an east-west spacing of 200m to be carried out by Progress SARL;

 

· A 12 Kml induced polarization survey on 6 lines of 2 kml each to be carried out by Progress SARL;

 

· Provision of raw data to Ronacher McKenzie Geoscience for interpretation;

 

· Checking of on-site artisanal activity.

The object of the survey will be to identify conductive targets and improve understanding of local structure, in order to optimise subsequent drill targeting.

Red Rock Chairman Andrew Bell comments: "The strong anomalies obtained from initial exploration in this favourable geological setting, with copper values in the regolith samples ranging up to 519 ppm and cobalt values up to 425 ppm, are likely very significant in this part of the Copperbelt and suggest the presence of copper and cobalt mineralisation at depth. Once we start pitting and drilling we are likely to have to maintain a continuous presence on site to keep artisanal activity under control, so good preparatory work including geophysics which will enable us to refine targeting and develop a cost-effective programme for subsoil exploration was a critical next step and is now under way. We are pleased to have identified and mobilised to site in these difficult times a technically strong multinational team to conduct our geophysics."

Background

Red Rock owns 80% of the Luanshimba Project, which is situated 65 km south-east of the provincial capital of Lubumbashi in Haut-Katanga, in a 420 hectare prospecting license (PR13513) in the Congolese Copperbelt.

The tenement is situated along a disrupted anticline with undifferentiated Roan sediments of the Mwashya Subgroup draping off a nearby basement dome, similar to some other Cu-deposits in the immediate area.

A comprehensive termite mound sampling programme combined with reconnaissance geological mapping was conducted in 2018 over an area underlain by prospective Roan Group sediments. 452 samples were collected on a 100x100m grid, and then split, with one batch sent to ALS Laboratories in Johannesburg while the other was retained for XRF analysis.

Red Rock identified as a result of the programme 2 strongly anomalous areas that are open-ended:

· In the southern part of the licence, a 2km long anomaly up to 500m wide striking ENE, (Trend A), follows carbonaceous shale and silicified dolomite into the nose of a disrupted anticline underlain by known Upper Roan silicified dolomite and carbonaceous shale-adjacent oxidised sandstone.

 

· Anomalous metal assays with peak values of 519ppm Cu and 425ppm Co corroborated the XRF values and are partly coincident with above average contents of pathfinder elements Bi and V. Given the regionally low background, these results are considered indicative of likely Cu-Co mineralisation at depth.

 

· Occasional outcrops reveal limonitic coatings and tiny cavities after sulphides along with occasional malachite that also explain the occurrence of copper-tolerant flora.

 

· The northern anomaly, (Trend B), a SE- striking copper-cobalt anomaly some 1,400m by 300m wide, while more subdued, is still significant as it clearly mimics the regional metalliferous stratigraphic and structural trend.

Figure 1: Copper anomaly map overlaid on the RTP magnetic image

http://www.rns-pdf.londonstockexchange.com/rns/0497G_1-2020-11-20.pdf

These results were announced on 20 December 2018 and Red Rock consultants Minerals Exploration Associates SARL (Minex Consulting SA) recommended a ground geophysical survey and pitting or trenching over selected areas, to be followed up by 3,000m of reverse circulation (RC) drilling.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited

Mark Treharne 0203 700 2500 Broker Pello Capital Limited  

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCURAURRUUAUAA
Date   Source Headline
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
30th May 20236:17 pmRNSIssue of Equity and Total Voting Rights
30th May 20235:17 pmRNSIssue of Equity and Total Voting Rights
24th May 202312:09 pmRNSIssue of Equity and Total Voting Rights
23rd May 20234:40 pmRNSHolding(s) in Company
16th May 20235:03 pmRNSHolding(s) in Company
12th May 20234:31 pmRNSHolding(s) in Company
12th May 20237:00 amRNSIssue of Equity, PDMR/Director Holdings, TVR
11th May 20237:00 amRNSIssue of Equity and Total Voting Rights
5th May 20233:45 pmRNSVictoria Goldfields - Berringa Drilling Results
4th May 20232:40 pmRNSIssue of Shares and Total Voting Rights
14th Apr 20237:00 amRNSIssue of Equity
4th Apr 20237:00 amRNSPlacing and TVR

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.