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Update re Jupiter Mines

14 Oct 2010 08:46

RNS Number : 3788U
Red Rock Resources plc
14 October 2010
 



RED ROCK RESOURCES PLC

Update re Jupiter Mines

Dated: 14 October 2010

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed and uranium, reports on progress at Jupiter Mines Ltd's Tshipi Kalahari Manganese Project ("Tshipi") and on Jupiter's Mt Ida Project. Red Rock has 83,794,165 shares in Jupiter Mines Ltd (ASX: JMS; "Jupiter"), a 22.64 per cent shareholding which will reduce to 5.23 per cent on completion of Jupiter's acquisition of a 49.9 per cent interest in Tshipi.

Jupiter today released an update on its Tshipi acquisition and announced an exploration update on its Mt Ida project.

Closing of the Tshipi acquisition is imminent with the approval of the transfer of the Tshipi Bokone prospecting permit now approved by the Department of Mineral Resources. A Tshipi manager has also been appointed. On completion of the acquisition of its 49.9 per cent stake in Tshipi, Jupiter will have 1,602,150,501 shares in issue, capitalising Jupiter at approximately A$528 million at its closing price today of A$0.33 per share.

At Mt Ida, Jupiter announced:

·; Structural mapping completed over the Mt Ida Banded Iron Formation

·; The 11,000 metre RC drill program is approximately 70% complete

·; Davis Tube Recovery Testwork on the first seven drill holes have been completed

·; Concentrate weight recoveries of up to 52% and grades of 69% FE being achieved

·; Targeting 400Mtonnes of JORC compliant inferred resource by year end.

The full text of the announcements, together with a presentation on Jupiter's steel feed corporation, may be accessed via http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS

Enquiries:

Andrew Bell

 

 

0207 402 4580 or 07766 474849

 

 Red Rock Resources plc

Chairman

Sandra Spencer

 

0207 402 4580 or 07757 660 798

 

Red Rock Resources plc

Public and Investor Relations

Peter Trevelyan-Clark/ Ben Jeynes

 

020 7444 0800

Religare Capital Markets

Nominated Adviser

Nick Emerson

 

01483 413500

Simple Investments Ltd

Broker

 

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCUSABRRKARARA
Date   Source Headline
23rd Jan 20122:15 pmRNSQuarterly update - Colombia
6th Jan 20124:24 pmRNSIssue of equity, option execution
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12th Dec 201110:30 amRNSDirector/PDMR Shareholding
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15th Nov 20112:45 pmRNSIssue of Equity
9th Nov 20117:00 amRNSColombia - Gold Sales
31st Oct 20112:56 pmRNSGreenland Melville Bugt presentation
17th Oct 20119:30 amRNSRe Jupiter Mines
14th Oct 20117:00 amRNSMigori Measured Mineral Resource Estimate
11th Oct 20114:42 pmRNSColombia - Gold Sales
4th Oct 201110:35 amRNSDirector/PDMR Shareholding
29th Sep 20111:40 pmRNSUpdate - Kenya
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20th Sep 201111:48 amRNSAppointment of Consultant - Migori Tailings
8th Sep 201110:30 amRNSUpdate - Greenland
5th Sep 201110:31 amRNSColombia - monthly gold sales
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30th Aug 20116:06 pmRNSUpdate - Kenya
26th Aug 20114:40 pmRNSSecond Price Monitoring Extn
26th Aug 20114:35 pmRNSPrice Monitoring Extension
25th Aug 20114:41 pmRNSSecond Price Monitoring Extn
25th Aug 20114:35 pmRNSPrice Monitoring Extension
12th Aug 20115:18 pmRNSDirector/PDMR Shareholding
10th Aug 20114:40 pmRNSSecond Price Monitoring Extn
10th Aug 20114:35 pmRNSPrice Monitoring Extension
3rd Aug 20115:34 pmRNSUpdate - July gold production
3rd Aug 20114:40 pmRNSSecond Price Monitoring Extn
3rd Aug 20114:35 pmRNSPrice Monitoring Extension
26th Jul 20115:07 pmRNSUpdate - exploration and production
18th Jul 20117:00 amRNSSecured loan note and warrants
8th Jul 20111:33 pmRNSDirector/PDMR Shareholding

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