10 June 2024
Red Rock
Resources PLC
("Red
Rock", "RRR", or "the Company")
Update on
Burkina Faso, Australia and DRC
Significant Results from Gold Drilling next to RRR's
Australian Gold Assets
Red Rock Resources Plc, (AIM:RRR)
("Red Rock" or "the Company"), is a natural resource development
company with interests in gold, base metals, battery metals, and
hydrocarbons principally
in Africa and Australia.
This release is an update further to
that of 29th April 2024.
Key
points:
· Gold testing and production
equipment loaded on container on way to sail for Burkina
Faso
· Preparation of operating
sites continues at Bilbale and Boulon
· Exceptional gold drill
results from neighbouring area in Australia prompts plans for
geochemistry and drilling
· Long stop date for purchase
option of minority interest in Australian asset extended to
tomorrow
· New Government appointment in
DRC ends six month post-election hiatus with prospect of resolution
of RRR claims
Burkina Faso: In the announcement of 29 April Red Rock noted that it was
hoped to start operations at scale in early June, if no customs and
other delays occurred. One key development since has been the
significant recent rise in air freight rates, that has led to the
decision to transport containers by sea. Although maritime
container rates have also increased, this becomes the preferred
option, and enables the Company to bring in extra
equipment.
Simultaneously, initial earth moving
and trucking equipment will be transported from Europe, with
generators and other equipment. Target arrival times are early
July, again subject to Government delays.
RRR's team has been on the ground
working on the preparation of accommodation, water wells,
transportation and logistics, and dealing with the
Government.
Australia: The Company has commissioned its Australian management team at
Red Rock Australia Limited ("RRAL") to immediately start a
geochemistry programme on its Kilmore Gold Project tenements just
to the west of Southern Cross Gold Limited's (ASX: SXG)("SXG")
Sunday Creek gold discovery in Victoria, Australia, in order to
confirm and map the continuation onto RRR ground of the dyke being
explored by SXG, and to develop drill targets.
SXG announced on 27 May 2024 that it
has:
·
Drilled 473.0
grams per tonne ("g/t") Gold Over 0.5 Metres at Sunday
Creek
·
Found multiple
High-Grade Structures which extend Mineralisation
·
Plans for a 60km
Drill Programme over the coming Year
*Refer to Southern Cross Gold
Limited's ASX news Release dated 27 May 2024.
https://wcsecure.weblink.com.au/pdf/SXG/02810736.pdf
This news comes off the back of
other very significant drill intercepts grading 455.3 metres at 7.2
grams per tonne of gold and 331.5m at 7.1 grams per tonne of gold
amongst other high grade drill results.
The long stop date for completion of
the purchase of the 49.9% of the Australian assets not already
owned by RRR now expires tomorrow. The Company is working to meet
the deadline and make a final assessment of the purchase. An
announcement will be made on or after Wednesday 12th
June 2024.
DRC: After
the Presidential election at the end of last year, it has taken six
months to put in place a leadership for the Assembly and a new
Cabinet. During this period there has been stasis on all matters.
RRR now anticipates being to take up where it left off just before
the Election, and obtain the issuance of the arbitration
award.
Andrew Bell, Red Rock Resources CEO,
commented:
"Progress
towards continuous operations in Burkina Faso continues
satisfactorily. The scale of the logistics operation is
considerable, and involves overcoming regulatory challenges at the
points of both export and import. Further announcements will be
made as we progress.
The astonishing gold results from
Southern Cross Gold's Sunday Creek gold discovery has seen the
company rise very quickly to a market capitalisation of nearly
A$600 million, and SXG is beginning to attract international
attention. These drill grades are associated with the same dyke
that crosses out of SXG's ground to the west and is believed to run
westward into Red Rock's ground. Recent research by our geologists
uncovered small but high grade historic production at Donnybrook,
which may be within this possible continuation of the dyke
containing Sunday Creek.
SXG have raised a significant amount
of money to drill 60,000 metres of drilling in 2024 and Red Rock
would be missing an opportunity if it did not concurrently conduct
the necessary geochemistry and other exploration to map the
hypothesised dyke extension within our ground and identify and
follow up any promising drill targets."
About Red Rock Australia Ltd (RRAL)
Victorian Gold assets:
RRAL owns 2,281km2 of
tenements in the Tier-1 gold jurisdiction in the Australian State
of Victoria.
The Kilmore Gold Project lies to the
west of Southern Cross Gold's Sunday Creek gold project. Refer to
Figure 1 which shows RRAL's Kilmore tenements with respect to
Sunday Creek and the important geological trends as currently
estimated.
The Kilmore Project is situated on
RRAL tenements EL007329 and EL007460 which were approved on the
23rd of March 2020 and 24th of July 2023 respectively, with a
5-year initial term. Combined the tenements cover 800km2
of prospective ground within the Melbourne zone of Central
Victoria. The tenement package includes the towns of Wallan, Romsey
and Lancefield.
http://www.rns-pdf.londonstockexchange.com/rns/8339R_1-2024-6-10.pdf
Figure 1: RRAL's Victorian
gold tenements at Kilmore next to Southern Cross Gold Limited's
Sunday Creek gold discovery.
The main geological feature at the
project is the Heathcote fault, a large basement structure
separating the Bendigo zone from the Melbourne zone. The fault has
upthrust a large piece of metabasalt that forms the Mt William
range running through EL007460, this area hosts known phosphate
deposits and shows elevated base metal anomalism. The tenement
package has seen almost no modern exploration for gold.
There are three gold fields within
the project, the most notable being Donnybrook. This gold field had
an approximate strike of 4km and an average grade of 142g/t Au.
Dyke swarms are mapped throughout
both licences. In EL007329, RRAL geologists believe dyke structures
are related to the Mt Disappointment Granodiorite and could be a
related structure to what is currently being explored by Southern
Cross Gold at their Sunday Creek project.
At Donnybrook, historic mines will
need to be located, should this be possible in an area partially
built up as suburbs of Melbourne, so that RRR can accurately target
high grade structures.
Given the proximity to Sunday Creek,
the dykes forming an interpreted ring structure around Mt
Disappointment are of particular interest. RRAL geologists are now
planning to commence a large-scale mapping and sampling campaign in
search for Sunday Creek style mineralisation on Kilmore, with a
view to drilling.
For further information, please
contact:
Andrew Bell 0207 747
9990 Chairman Red
Rock Resources Plc
Bob Roberts 0203
8696081
Broker Clear Capital Corporate
Broking