Last checked at 16 Sep 2020 15:00
Red Rock Resources PLC
("Red Rock" or the "Company")
Red Rock Australasia JV - Update - Additional Project Reports
16 September 2020
Red Rock Resources Plc, the natural resource development company with direct or indirect interests in gold, manganese and base metals, announces a further operational update in respect of its Australian gold joint venture ("JV") company Red Rock Australasia Pty Ltd ("RRAL") in which POW has a 49.9% interest.
RRAL previously commissioned and has now received historical reports and targeting assessments for its original 11 license applications, which are being used to inform the preparation of a NI 43-101 report and develop exploration programmes.
To date the Company has set out in announcements the key findings from four historical reports covering three areas of interest, namely:
- EL007285, the Blue Ribbon project;
- EL007271, the Blue Whale project and
- EL007281, the Blue Chip project
- EL007329, the Evergreen project.
The Company has now uploaded the remaining 7 reports to the Red Rock website, which are available through the following link:
https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/
In addition, a further summary report covering the recently added license area, EL007460 ("Kilmore West") has been uploaded.
Red Rock Chairman Andrew Bell commented:
"RRAL is moving ahead with finalisation of the NI 43-101 technical report, which has been expanded to include reference to the recently acquired Kilmore West license.
Shareholders are encouraged to review the full suite of project reports where considerable evidence of gold prospectivity across the application ground is demonstrated.
In parallel with the NI 43-101 work, RRAL continue to work with Earth Resources Victoria and with RRAL's land management partners to secure the earliest possible grant of licenses, enabling the commencement of ground exploration, subject to any applicable approvals and permits. Initially the focus is on the three license applications that have passed through the local mandatory advertising period.
Also, RRAL continues to work with advisers with regard to the potential listing of some or all of RRAL interests on a North American stock exchange, and also with third parties seeking to earn-in or joint venture with RRAL with regard to certain of its business interests.
We anticipate further updates to the market in respect of RRAL in the near term."
FURTHER JV INFORMATION:
Joint Venture Company - RRAL
RRAL is a joint venture company 50.1% owned by Red Rock and 49.9% owned by Power Metal Resources plc ("POW"). Paul Johnson, CEO of POW and Andrew Bell are directors of RRAL.
RRAL has lodged applications for twelve new gold exploration license areas covering 2,188 km2 in the Victoria Goldfields of Australia as follows:
License Application Number | Project Name | Area (km2) |
EL007271 | Blue Whale | 133 |
EL007281 | Blue Chip | 74 |
EL007282 | Blue Sky | 489 |
EL007285 | Blue Ribbon | 8 |
EL007294 | Red Queen | 130 |
EL007301 | Mt Bute | 85 |
EL007327 | Blue Stocking | 60 |
EL007328 | Blue Yonder | 168 |
EL007329 | Evergreen | 486 |
EL007330 | Blue Angel | 202 |
EL007385 | Sardinia | 4 |
EL007460 | Kilmore West | 349 |
|
|
|
Total |
| 2,188 |
ONLINE MAP
Readers wishing to view the current application footprint may do so through the following link to the Red Rock website: https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/
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
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