Red Rock Resources plc Australian Gold - Joint Venture Update (7458O)
June 03 2020 - 1:00AM
UK Regulatory
TIDMRRR
RNS Number : 7458O
Red Rock Resources plc
03 June 2020
Red Rock Resources PLC
("Red Rock" or the "Company")
Australian Gold - Joint Venture Update
3 June 2020
Red Rock Resources Plc, the natural resource development company
with interests in gold, manganese and minerals, is pleased to
announce an update on its joint venture subsidiary Red Rock
Australasia Pty Ltd ("RRAL").
Highlights:
-- The Company through RRAL has applied for four additional gold
exploration license areas totalling 916 sq km in the Central
Victoria Goldfields of Australia.
-- The applications double RRAL's landholding position to 1,835
sq km and will make it one of the largest tenement holders in the
Goldfields.
-- The combined applications now cover a 100 km North-South
stretch of contiguous tenements centred on the great mining town of
Ballarat following historic mining centres and extensive evidence
of gold mineralisation throughout.
-- The applications also cover ground to the West along the
structural boundary between the Bendigo Zone and the Stawell Zone
further West, including ground near another old mining centre,
Avoca.
-- Finally the applications now cover a conceptual target area
along the structural boundary between the Bendigo Zone and the
Melbourne Zone to its East where RRAL has as its near neighbour on
both sides the recently listed Canadian explorer Fosterville South
(TSX-V:FSX).
Red Rock Chairman Andrew Bell comments :
With 1,835 sq km now under application RRAL's interests cover
areas of exceptional prospectivity and areas with a long mining
history.
RRAL is working to examine the past production record in each
license area, and identify our first targets, and as this
information is verified and becomes available, by project, we look
forward to updating the market. "
FURTHER INFORMATION:
-- RRAL is a joint venture company 50.1% owned by Red Rock and
49.9% by Power Metal Resources plc (AIM:POW)("POW"). Paul Johnson,
CEO of POW, has joined the board of RRAL. Andrew Bell, Red Rock and
POW Chairman, is a director of RRAL.
-- RRAL has now lodged applications for EL007327, EL007328,
EL007329, and EL007330, four new gold exploration license areas
covering an additional 916 sq km in the Victoria Goldfields of
Australia.
-- In total the JV license application areas of RRAL in Victoria
now cover 1,835 sq km which gives it a significant presence in the
Goldfields area:
EL007271 Blue Whale 133 sq km
EL007281 Blue Chip 74 sq km
EL007282 Blue Sky 499 sq km
EL007285 Blue Ribbon 8 sq km
EL007294 Red Queen 130 sq km
EL007301 Mt Bute 85 sq km
EL007327 Blue Stocking 60 sq km
EL007328 Blue Yonder 168 sq km
EL007329 Evergreen 486 sq km
EL007330 Blue Angel 202 sq km
http://www.rns-pdf.londonstockexchange.com/rns/7458O_1-2020-6-2.pdf
Fig 1: EL Applications by RRAL
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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