Red Rock Resources plc Red Rock Australasia - License Applications (3393N)
May 19 2020 - 5:00AM
UK Regulatory
TIDMRRR
RNS Number : 3393N
Red Rock Resources plc
19 May 2020
Red Rock Resources PLC
("Red Rock" or the "Company")
Red Rock Australasia - License Applications Build Critical
Mass
19 May 2020
Red Rock Resources Plc, the natural resource development company
with interests in gold, manganese and minerals, announces an update
on its joint venture subsidiary Red Rock Australasia Pty Ltd
("RRAL").
The Company through RRAL has applied for additional ground at
EL007294, and EL007301, two new gold exploration license areas in
the Victoria Goldfields of Australia.
Red Rock Chairman Andrew Bell comments :
"With these new applications RRAL achieves its objective of
building a significant position with target diversity in its area
of focus around the historic mining centre of Ballarat, and
stretching up towards Avoca and Castlemaine. The area includes
potential structural targets, extensions along strike of existing
mines, old gold mines abandoned when they hit the water table,
undrilled drill targets where previous explorers ran out of time or
funding, and areas all but untouched since the nineteenth
century.
Each license contains evidence of gold mineralisation and
historic gold workings, with in many cases recorded production from
previous alluvial mining or underground drives. At a time when the
Goldfields are attracting considerable new interest after a series
of discoveries and the opening up of the high grade zones at the
Fosterville mine, RRAL has made a strategic decision to become a
regional specialist in the Victoria Goldfields with a twin focus on
bringing brownfield projects back into production and discovering
new mines.
Often it is by producing that one makes discoveries. "
HIGHLIGHTS:
-- RRAL has now lodged applications for EL 007294 and EL007301,
two new gold exploration license areas covering an additional 215
sq km in the Victoria Goldfields of Australia;
-- In total the JV license application areas of RRAL in Victoria
now cover 919 sq km which gives it a significant presence in the
Goldfields area:
Ø EL007271 Blue Whale 133 sq km
Ø EL007281 Blue Chip 74 sq km
Ø EL007282 Blue Sky 499 sq km
Ø EL007285 Blue Ribbon 8 sq km
Ø EL007294 Red Queen 130 sq km
Ø EL007301 Mt Bute 85 sq km
http://www.rns-pdf.londonstockexchange.com/rns/3393N_1-2020-5-19.pdf
Fig 1: EL Applications in Victoria by RRAL
-- The license applications are focussed on the Ballarat area
and the two recent applications, EL007301 west of Ballarat, and
EL007294 further off to the north-north-west near Avoca , are close
to and along the north-south structural corridor between the
Bendigo Zone and the Stawell Zone.
-- All license application areas have [ evidence of gold
mineralisation] and historical mining, and in many cases recorded
production and drilling;
-- Analysis of historical exploration and geophysical data
continues, and further updates will be provided in due course.
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No.596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
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.
END
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