REG - Red Rock Resources - Kenya Exploration Update

Red Rock ResourcesAnnouncement

07/01/2022 07:00

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RNS Number : 7076X  Red Rock Resources plc  07 January 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Kenya Exploration Update

Mikei Gold Project - Drill Programme Assay Results

 

7 January 2022

Red Rock Resources Plc ("Red Rock" or "the Company"), the natural resource
development company with interests in gold and base metals, announces the
results of the first batch of 950 samples from its recently completed 2021
phase 1 RC drilling exploration programme in the mid KKM prospect at the Mikei
Gold Project ("MGP") in Kenya.

HIGHLIGHTS:

·    A total of 20 drill holes totalling 2093 meters were completed as
part of phase 1 RC Drilling Programme

 

·    Sampling and logging was done at 1m intervals by our in-house
geological team prior to being sent to SGS limited in Mwanza, Tanzania for
accredited laboratory assay

 

·    Results are of first batch of 950 samples from 9 out of the 20 drill
holes. Final batch of Phase 1 drilling samples awaiting customs clearance.

 

·    Highlight intercepts include (complete collar and assay tables
available at the bottom of this release).

 

o  KKRC102: 17m @ 1.02 g/t Au from 116m to 133m (including 1m @ 3.15 g/t Au)

o  KKRC082: 6 m @ 1.17 g/t Au from 8m to 13m (including 1m @ 3.75 g/t Au)

o  KKRC101: 4m @ 1.37 g/t Au from 83m to 87m (including 1m @ 2.7 g/t Au)

 

Red Rock Chairman Andrew Bell comments: "The drill programme was designed to
test possible extensions of the mineralised zones and to infill some possible
gaps where holes might previously have been drilled too far apart to allow an
assumption of continuity of mineralisation in the Resource calculation.

A more powerful compressor had to be brought in part way through the
programme, and the first nine holes for which we have results were those
drilled while waiting for it to arrive. A comprehensive picture of the results
of the programme awaits the results of the final eleven holes, including some
deeper holes.

However these first nine holes were extremely encouraging, and take us some
way towards our objectives for the programme. Seven of the drillholes
intercepted gold mineralisation, including five at good grades.

We look forward to being able to announce the remaining results before long."

 

Programme Data:

Drill Programme assay table

 Hole ID  From (m)  To (m)   Interval (m)  Au g/t
 KKRC082  7         13       6             1.17
 Incl.    12        13       1             3.75
 KKRC083  98        101      3             0.5
 KKRC084  No Significant intercepts
 KKRC085  73        74       1             1.87
 KKRC098  65        68       3             0.5
 KKRC099  64        66       2             0.88
 incl.    65        66       1             1.4
 KKRC100  No Significant intercepts
 KKRC101  83        87       4             1.37
 incl.    84        85       1             2.71
          107       109      2             0.9
 KKRC102  116       133      17            1.02
 incl.    124       125      1             3.17

*All thicknesses are downhole lengths and true thickness are not known at this
stage

Drill Programme collar table

 Hole ID  Azimuth  Dip     Hole Depth (m)  Easting  Northing  Elevation
 KKRC082  25(0)    -60(0)  100             643862   9889435   1191
 KKRC084  25(0)    -60(0)  110             643967   9889409   1201
 KKRC085  25(0)    -60(0)  85              643997   9889422   1203
 KKRC101  25(0)    -60(0)  109             645382   9888747   1264
 KKRC102  25(0)    -60(0)  133             645283   9888773   1261
 KKRC083  25(0)    -60(0)  109             643897   9889444   1191
 KKRC098  25(0)    -60(0)  85              644912   9889999   1258
 KKRC099  25(0)    -60(0)  70              644955   9889041   1250
 KKRC100  25(0)    -60(0)  60              644919   9889034   1249

*Projection: UTM Zone 36 South Arc 1960

QA/QC

Sampling was done at intervals of 1 metre, and the majority of samples were
dry with good to excellent recoveries. The company included certified
reference materials (CRM) in the sample stream and constitutes approximately
5-10% of the sample stream. Samples from this drilling programme were
submitted to SGS Limited in Mwanza, Tanzania which is an ISO certified and
accredited laboratory for sample preparation and analysis. In addition to the
company's CRMs, the laboratory has additional checks.

Background

The MGP (100% beneficially owned by Red Rock) comprises two prospecting
licences which cover approximately 245 km2, namely PL/2018/0202 and
PL/2018/0203, over the Migori Greenstone Belt, and are located along the
northern margin of the Tanzanian Craton. The licences extend 63 km along the
strike of the belt, which also hosts the Kilimapesa Gold treatment plant
several km to the east of the Company's licenses. The North Mara Gold Mine,
which is operated by Barrick Gold, is located 30 km to the south of the MGP in
Tanzania.

Regional exploration in the project area began in the early 1930s and
culminated in the identification and subsequent mining of the Macalder
volcanogenic massive sulphide (VMS) base metal mine.

In 2010, Red Rock began the extensive task of file organisation, data
digitisation and compilation of available historical data, following which CSA
Global (UK) Ltd performed cross-checks and validation steps prior to loading
it into a Structured Query Language (SQL) database using Datashed. During 2011
and 2012, Red Rock undertook an infill drilling programme at all five of the
lode gold prospects; MK, Kakula-Kalange-Munyu (KKM), Kakula-Kalange-Munyu West
(KW), Nyanza (NZ), and Gori Maria (GM) within PL/2018/0202.The Report
published earlier this year documented the results of Mineral Resource
estimation work initially conducted in 2011 and 2012 and revised in 2021 in
order to report the Mineral Resources according to JORC (2012)
guidelines.

JORC (2012) differs from earlier editions of the JORC Code in that for a
Mineral Resource to be estimated it requires the application of "reasonable
prospects of eventual economic extraction" ("RPEEE") principles. This has
resulted in the case of the Mikei MRE in the calculation of pit shells
supported by conceptual cost and gold price forecast parameters. Any material
outside or below the reporting pit shell was updated as "Not Classified" since
it did not meet the criteria to be reported as a Mineral Resource.

 

The total Mineral Resource Estimate, at both Inferred and Indicated levels,
was estimated at:

15.13 Mt @ 1.49 g/t Au with contained metal content of 723 KOz Au

All prospects, except GM, were classified as Indicated and Inferred Mineral
Resources. GM was classified as Inferred only, mainly due to the relatively
low average RC drill recovery of 62%.

Due to the uncertain lateral extent and depth of artisanal mining at the Mikei
prospects, and the lack of topographic data to accurately deplete the Mineral
Resource, all oxidised material was classified as Inferred Mineral Resources.

The Mineral Resource was reported as that material within the RPEEE pit
shells, and above a cut-off grade of 0.5 g/t Au. The Mineral Resource was
reported as of 18 January 2021.

 

The technical information in this release has been reviewed by Mr Joseph Komu,
a member of AusIMM and the Project Manager of the Project. He is a member of a
recognised professional organisation and has sufficient relevant experience to
qualify as a qualified person as defined in the Guidance Note for Mining, Oil
and Gas Companies published by AIM.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

For further information, please contact:

Andrew Bell 0207 747
9990
Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396       NOMAD
Beaumont Cornish Limited

Jason Robertson 020 7374
2212
 Broker First Equity
Limited

 

 

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