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REG - Red Rock Resources - Kimono Cobalt Project, DRC

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RNS Number : 3454Q  Red Rock Resources plc  27 June 2022

Red Rock Resources PLC

("Red Rock" or the "Company")

Kimono Cobalt Project, DRC

 

27 June 2022

Red Rock Resources Plc, the natural resource development company focussed on
gold, but with developing interests in copper, cobalt, and other minerals,
announces a new Cobalt joint venture in the Democratic Republic of Congo
("DRC"),

Red Rock Resources Congo SAU ("RRRC") has entered into a joint venture
agreement (the "Agreement") with the Société d'Investissement Minier Akon et
Sodimico S.A. ("Simaks") whereby the Company will acquire a 58% holding in the
Kimono Cobalt-Copper Project ("KCCP"), a cobalt project in Haut Katanga
Province of the DRC.

Simaks is a joint venture company between Whitewater LLC of Sharidan, Wyoming
("WhiteWater") and La Société de Développement Industriel et Minier du
Congo ("SODIMICO"), which currently owns the 20 carrés (17 sq km) of mining
licence PE 102 containing the KCCP.

SODIMICO is a parastatal mining company of the DRC. White Waterfall LLC is a
private equity fund controlled by the American-Senegalese businessman and
musician Mr Aliaune Thiam.

Highlights

·    KCCP has a history of limited scale, high grade, Cobalt production

·    Prospective R2 Mines Subgroup lithologies identified in past drilling
and trenching

·    11 grab samples tested by XRF with indicated Co grades of 0.63% to
1.8%

·    Favourable geology with R2 beds open down dip and along strikes

·    RRR has paid $50,000 for 58% of the KCCP

·    Further payments of $25,000 per quarter until a total of $400,000
paid

·    No further payment obligations

·    Acceleration or temporary suspension of payments provided for in
certain eventualities

Red Rock Chairman Andrew Bell comments: "Our thorough technical and legal due
diligence on this project included the search for and collation of historic
information, as well as sampling and mapping on site. We are delighted to have
been able to arrive at acceptable terms for entry into this exciting and
historically very high grade cobalt project.

We look forward to working in close co-operation with Simaks to advance the
project, beginning with geochemistry including termite mound sampling over a
wide area, and leading up to scout drilling of specific targets."

Simaks Director M. Mukanza Ilunga Rigo comments: "We believe we have a
collective responsability to contribute to the energy transition. Working
together with Red Rock, we are doing our part to make metals the cornerstone
of a sustainable future."

Terms of the Agreement

RRC and Simaks (the "Parties") have entered into the Agreement on the
following main terms and conditions:

i)          In consideration of a $50,000 payment it has made to
Simaks, RRC will receive a 58% interest in the KCCP, which Simaks will use
inter alia to renew the licence;

ii)         Not later than 3 months thereafter, RRC will pay a further
$25,000 to Simaks;

iii)         Thereafter RRC shall make quarterly payments ("Payments")
to Simaks until the total paid reaches $400,000, provided that if certain
liquidity events for RRR occur the Payments will be made at the rate of
$100,000 per quarter until $400,000 is reached;

iv)        Simaks takes responsibility for all other contractual
payments to Sodimiko;

v)         A Technical Operations Committee will be set up with
representation by each party;

vi)        RRC will appoint the Operations Manager and the Lead
Geologist;

vii)       Simaks will extend the licence term (which is currently past
its existing expiry date), finalise its negotiation to put the whole of the 55
block PE102 within the KCCP, and to define the terms and timing of any
feasibility as required by the Company, and if these outcomes are not achieved
within a reasonable period the Company may suspend Payments until they are
achieved;

viii)      A parallel agreement guaranteeing the obligations of the
Parties has been entered into by Red Rock and WhiteWater.

Project Information

The information below is principally drawn from the due diligence report
prepared by Mineral Exploration Associates SARL (Minex Consulting). Technical
terms used in this text and in the R2 section of Table 1 are defined either in
the text, in Table 1, or in the attached Glossary.

Licence Summary and Context

The KCCP area is part of PE102, being a 20 block (17km(2) licence area)
prospective for Co and Cu, approximately 55-60km southeast of the Katangan
city of Lubumbashi. Small scale mining in several small, scattered pits within
a <2km(2) area at the northwestern end of the permit has revealed high
grade (up to 1.8% Co and 0.63% Cu) secondary cobalt mineralization in a
breccia injected into a very long antiform of prospective R2 Mines Subgroup
beds. These folds are typical of the regional structures hosting similar Cu-Co
mineralization in the region between Lubumbashi and the Zambian border. While
the limited mining and exploration to date implies that Co is possibly
concentrated in the upper parts of the deeply weathered profile, no systematic
exploration has been undertaken down dip where the breccia and host sediments
are open ended. In addition, the remaining >3.5km of strike to the
southeast remains untouched by modern prospecting or artisanal mining.

The Kimono cobalt-copper project is a portion of the licence registered under
an exploitation permit (i.e., a mining licence) number PE102 which is located
at about 60km SE of the city of Lubumbashi along the national tarred road
No.1. The licence covers an area of about 20 mining squares which is
equivalent to 17km(2). An R2 Mines Subgroup fragment was identified and
partially mined out by La Miniere de Musoshi Kisenda ("MMK"), a Joint-Venture
company between Groupe Forrest International (Forrest Group) (70%) and the
parastatal company SODIMICO (30%) in the period from 2004 to 2006, mainly in
the Kimono 1, Kimono 2 and Kimono 3 areas. There are four small and shallow
open pits among which one, Kimono 4, situated in the northwestern portion of
the tenement, was excavated by a mining cooperative.

On the 5th of November 2021, SODIMICO ceded 20 mining squares from the
original 55 blocks of the licence (PE102) to Simaks Mining Sarl. Simaks is a
local company constituted by SODIMICO (30%) and White Waterfall LLC (70%).

Map 1: PE102 Simaks and the original PE102 Sodimico

http://www.rns-pdf.londonstockexchange.com/rns/3454Q_1-2022-6-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3454Q_1-2022-6-27.pdf)

The Kimono Project (PE102) is situated in the vicinity of a well-developed
region of the Democratic Republic of the Congo in an area of many active Cu-Co
deposits straddling the transition from the Zambian to the DRC Copperbelt
(Figure 8).

The Kimono Project is in the former Katanga Province in the Central African
Copperbelt (CACB) belonging to the Lufilian Arc that straddles the
international border between the Democratic Republic of the Congo (DRC) and
Zambia. The CACB forms one of the largest metallogenic provinces of the world
and hosts over 50% of the world's cobalt resources(1) and a substantial part
of the world's high-grade copper.

The major Cu-Co deposits occur within the Neoproterozoic Katangan Supergroup
of the Democratic Republic of the Congo (DRC) and the Roan Supergroup of
Zambia in the Zambian Copper Belt ("ZCB"). Within the DRC, Cu and Co
mineralisation is present from Kimpe (northeast of Luanshimba) in the
southeast up to and even west of Kolwezi in the northwest, occupying the Fold
and Thrust Belt within the Lufilian Arc. The Cu-Co occurrences are mostly
located in two stratigraphic levels forming the "Lower" and the "Upper"
orebodies with a total cumulative thickness varying between 15 and 55m. Total
resources of the Copperbelt in the DRC and Zambia are estimated at more than
150 million metric tonnes of Cu and 8 million metric tonnes of Co metal(2).

The Roan Group comprises both siliciclastic and carbonate to evaporite type
sediments proximal and distal respectively to the underlaying basement
granite. The typical more mineralised hosts in the Zambian-type Copperbelt
comprise proximal siliciclastic sediments while the distal sabkha-type
evaporitic chemical sediments constitute the bulk of the Katangan-type
Copperbelt. Stratigraphic markers such as the RSC or Grey RAT in Katanga have
no direct equivalents to the south whereas the Zambian Ore Shale is possibly
replaced by the pelitic dolomites of the Lower Ore Body (R2.1) in the DRC.
Many workers believe the Congolese red RAT (R1) beds are the temporal
equivalent of the Lower Roan siliclastics in Zambia with mineralisation
located in the upper formations of the latter.

The Kimono Project is located on the northern side of the Luina basement dome
and is underlain by Neoproterozoic rocks belonging to the undifferentiated
Congolese-type Roan Group.

Mineralization Style

Most of the Cu-Co deposits in the CACB are the stratiform sediment-hosted
(SSH) mineralisation type. In addition, the sediment-hosted Cu-Co deposits
type, there are structurally controlled and vein-type deposits (Kipushi,
Deziwa, Dikulushi for example). The Kimono Project consists of a
sediment-hosted copper mineralisation carried in the R2 Mines Subgroup.

The typical stratabound Cu mineralisation in the R2 Mines Subgroups occurs in
3 different stratigraphic levels:

• The Lower Ore Body (LOB) occurring in the basal sequence of the R2 (Grey
RAT or RAT gris, DStrat, RSF) carrying disseminated copper sulphides including
carrolite, chalcocite, bornite and chalcopyrite, preferably in arenaceous
laminae, with irregularly decreasing Cu content downwards from the basal
contact of the RSC.

• Similarly, to the LOB, the Upper Ore Body occurs in a dolomitic shale
unit, commencing at the top contact of the RSC silicified dolomite. The
principal minerals are covellite, carrollite, chalcocite, bornite and
chalcopyrite, with increasing sulphides in carbonaceous zones in the SD, but
generally decreasing upwards and along strike from the richest centres. The
BOMZ is part of the upper ore body and is a dark sandy to shaley dolomite
showing significant metal enrichment.

• The third ore body occurs in the CMN (Kambove Dolomite) and consists of
disseminated and bedded chalcopyrite and bornite in carbonaceous dark layers.
This ore body has been more recently recognised as a significant host for
mineralisation. Deposits containing mineralisation from all three
stratigraphic levels include: Kamoto, Mutoshi, Kinsevere, Luiswishi,
Kwatebala, Mashamba, Dikuluwe, Nyoka, Virgule, T17, Kasombo, Kasonta, Lupoto.

However, the location and form of some CACB deposits often demonstrate a
strong measure of structural control with remobilization of Cu-Co (U-Ni-Pd)
giving rise to epigenetic sulphides focusing in local breccias or in proximity
to faults. This also occurs to varying degrees in a number of deposits in the
southeastern part of Katangan Copperbelt in places such as Kalabi, Kinsevere,
Kipese, Shinkolobwe, Kimpe and Kipoi etc. In addition, Katanga has undergone
considerable periods of planation and weathering since the Tertiary era with
significant fluctuations in the water table and resulting intense
decomposition of the profile with leaching and redistribution of metals in the
pedolith. This results in a concentration of Co near surface with enrichment
of Cu slightly deeper in the saprolite.

Local Geology and Historical Work

There is no recorded systematic historical work in the licence. Boxes of drill
core poorly managed and stored were found in the field camp that shows mostly
RAT Breccia.

However, historical exploration completed by MMK identified R2 Mines Subgroup
fragments contained within the heterogeneous breccia known as RAT Breccia.
MMK's work was focused on the cobalt rich heterogenous breccia. 11 drillholes
with an average of 50 metres were completed totalling 524.20 metres and
targeting the breccia.

This drilling programme plus mining exposures revealed that Kimono can be
classified as one of the Congolese Copperbelt ("CCB") type mineralization
styles known as the "Basin-central" deposits. It appears similar to other
proximal CCB type deposits such as Mabaya and Kimpe while Red Rock's
Luanshimba, project, drilled last year, and closer to the Luina Dome, has more
in common with ZCB type prospects.

The existence of the R2 Mines Subgroup within the tenement suggests that
classifying the Kimono Project as a CCB type ranks it as highly prospective
ground for both cobalt and secondarily for copper.

The Mines Subgroup, formerly called the Mines Series, constitutes the most
well‐known stratigraphic section of the Neoproterozoic Roan Group because of
its Cu‐Co mineralization. Described as a carbonate unit that formed in a
reducing environment, it has been subdivided into three formations (oldest to
youngest): The Kamoto Dolomite (R.2.1), the Dolomitic Shale (SD; R.2.2) and
the Kambove Dolomite (known as CMN; R.2.3).

Most of the above-mentioned lithologies have been intercepted in shallow drill
holes completed in 2004 at the Kimono 1 pit which lies approximately 1.5 Km
from the Kimono 4 quarry.

• Kamoto Dolomite is subdivided into four units. The basal unit is Grey RAT,
which consists of chloritic and dolomitic siltstone. It is overlain by three
mostly dolomitic units, the "Dolomites stratifiées" or D. Strat. (stratified,
fine-grained dolomites), "Roches Siliceuses Feuilletées" or RSF (siliceous,
laminated dolomites), and "Roches Siliceuses Cellulaires" or RSC (massive and
generally stromatolitic dolomites). Parts of these rock formations, especially
RSC, have been intercepted in drill holes and mapped in the Kimono 1 open pit.
In addition, a heterogenous breccia fills a major structure that impregnates
the Kamoto Dolomite in the project with high cobalt content.

• The Dolomitic Shale (SD) Formation consists mostly of fine argillaceous
clastic material cemented by dolomite. The formation can be further subdivided
based on the presence of three carbonaceous marker units. Sedimentary rocks at
the base of this formation were deposited in a shallow-water, high-salinity
environment (intertidal zone); rocks higher in the formation are interpreted
to have formed in a deeper-water environment. These units have been partially
intercepted by the drilling program completed by MMK and mapped in the Kimono
1 open pit.

• The Kambove Dolomite Formation (CMN) is divided into (1) the Lower CMN
(mostly dark dolomites, enriched in organic matter), and (2) the Upper CMN
(clean dolomites containing interbedded, chloritic dolomitic siltstones).
These formations were noted in drill holes or by structural geological mapping
of the Kimono 1 pit, but the formation is still open towards the east.

 

 

 Supergroup  Group                                                                           Formation                                                                  Member                                                                        Lithology
                                                                                                                                                                                                                                                      Bedded, weakly calcareous & siliceous shale; locally thin graphitic

                                                                                                                                                        shales. Feldspathic sandstone on basin margin. Andesite far west?
                                                                                             R4.2

             Mwashya

             R4

 ROAN
                                                                                                                                                                                                                                                      Ferruginous dolomite, ironstone with minor jaspilite overlying variably

                                                                                                                                                                                                                                        silicified dolomite, and dolomitic shale. Local volcanoclastics.
             R4.1
                                                                                                                                                                                                                                                      Dolostones alternating with shaley micro-sandstone, minor limestone.

             Dipeta                                                                          R3.3/3.4

             R3
                                                                                                                                                                        Dolomitic evaporitic shales and micro-sandstone. Silicified dolomite towards

                                                                                                                                                          top.
             R3.2

                                                                                                                                                                        Violet-grey dolomitic shale with grit; sandy at base & top.

             R3.1                                                                            RGS

                                                                                                                                                                                                                                                      Pink-brown-white dolomite, talcose, cherty, evaporitic breccia; red siltstone.

                                                                                                                                                                        Upper

                                                                                             Kambove

                                                                                             Dolomite

                                                                                             (CMN) R2.3

             Mines

             Group

             R2
             Dolomite (stromatolitic) talcose dolomite, evaporitic breccia; pale grey-green
             siltstone.
             Pink-brown-white massive dolomite.
                                                                                             Dolomitic shale alternating with shaley dolomite, locally talcose, rarely

                                                                               sandy. Massive and bedded with algal structures.

             Lower
             Laminated carbonaceous shaley dolomite with evaporitic structures; minor
             massive dolomite.
                                                                                             SD3b                                                                       Carbonaceous shale.

             Dolomitic Shale (SD) R2.2
             SD3a                                                                            Dolomitic shale, shaley dolomite.
             SD2d                                                                            Carbonaceous dolomitic shale.
             SD2c                                                                            Dolomitic shale, dolomite.
             SD2b + c                                                                        Shaley and local dolomite; dolomitic sandstone.
             SD2a                                                                            Carbonaceous dolomitic shale.
             BOMZ                                                                            Black Ore Mineralised Zone dolomite.
             SDB                                                                             Basal dolomitic shale.
                                                                                             RSC                                                                        Vuggy silicified dolomite.

             Kamoto Dolomite R2.1
             RSF                                                                             Laminated silicified shale.
             DSTRAT                                                                          Bedded dolomite.
             RAT Gris                                                                        Grey-green argillite (rarely sandy).
                                                                                                                                                                                                                                                      Sandy (dolomitic) argillite & argillaceous sandstones.

             RAT (R1)                                                                        RAT Lilas

                                                                                             (red RAT)

 

Table 1: Katangan Stratigraphic Column

In addition to the structural mapping conducted by Minex team at Kimono 1
(280m lengths x 70 m widths x 150m x 25 m), Kimono 2, Kimono 3 (50m x 20m
x10m) and Kimono 6 (100 m x30m x10m) workings were visited but the artisanal
mining activities have badly disturbed the ground and the small and shallow
open pits are filled by mud and water. Therefore, no additional field data
were collected at these 2 prospects. Eleven grab samples were collected within
the four shallow open pits. These samples were then analysed using a portable
XRF spectrometer and the following results were obtained:

 

 

 PROSPECT ID  SAMPLE ID  UTM E   UTM N    RL    Co %  Cu %  Mn %
 KIMONO 1     KIM001     572661  8660050  1252  1.55  0.63  1.86
 KIMONO 1     KIM002     572653  8660059  1253  0.63  0.51  3.81
 KIMONO 1     KIM003     572652  8660059  1252  0.95  0.26  3.19
 KIMONO 1     KIM004     572808  8659909  1257  0.97  0.20  3.12
 KIMONO 3     KIM005     573405  8659443  1251  0.71  0.02  1.63
 KIMONO 2     KIM006     573737  8659313  1255  1.60  0.60  1.85
 KIMONO 2     KIM007     573722  8659332  1251  1.20  0.54  1.91
 KIMONO 6     KIM008     574350  8660408  1252  1.80  0.50  1.26
 KIMONO 6     KIM009     574376  8660415  1255  1.52  0.40  1.80

 

Table 2: XRF Results for grab samples taken at Kimono

The following Google Earth Pro© map shows the locations the grab samples and
their Co contents received from collected in all four open pits. Note that
Kimono 3 is situated outside the licence PE 102.

Map 2: Grab sample locations and grades

http://www.rns-pdf.londonstockexchange.com/rns/3454Q_2-2022-6-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3454Q_2-2022-6-27.pdf)

However, historical data received from a third party helped Minex to determine
that 4 trenches were excavated at the Kimono 2 prospect. Even though they were
not visible in the field, they reveal that the R2 Mines Subgroup rocks were
described as shown in Table 3 below.

 Trench ID  Depth from (m)  Depth to (m)  Strati Code
 TR1        0               1.2           RAT
 TR1        1.2             12.3          SDS
 TR1        12.3            13            BRH
 TR1        13              16.4          RATGR
 TR1        16.4            29.9          DSTRAT
 TR1        29.9            36.6          BRH
 TR2        0               2.5           RAT
 TR2        2.5             9             SDS
 TR2        9               9.4           BRH
 TR2        9.4             10.7          RATGR
 TR2        10.7            26.7          DSTRAT
 TR2        26.7            28.7          BRH
 TR3        0               9.6           RAT
 TR3        9.6             10.4          SDS
 TR3        10.4            12            RATGR
 TR3        12              21.4          DSTRAT
 TR3        21.4            24.8          BRH
 TR3        24.8            27            RAT
 TR4        0               12.4          RAT
 TR4        12.4            16.4          SDS
 TR4        16.4            17            BRH
 TR4        17              18.7          RATGR
 TR4        18.7            28.5          DSTRAT

 

Table 3: Trenches excavated at Kimono 2 Prospect

 

In addition to the trenches excavated at the Kimono 2, 114 exploration pits
were dug between Kimono 2 and Kimono 3 to target the lateritic horizon that
carried high grade cobalt (up to 1.5% Co).

 

Structure and Mineralisation

At Kimono, cobalt was extracted from a heterogenous breccia situated near the
Lower Ore Body (LOB). Based on the work to date at Kimono, the existence and
the thickness of the Upper Ore Body (UOB) and the Third Ore Body cannot be
determined with certainty. The ground is still open down dip where possible SD
and CMN might be situated and also along the strike where possible R2
fragments might be discovered. Limited evidence suggests that the principal
mineralized unit, the heterogeneous breccia, locally intrudes the core of a
northeasterly dipping recumbent anticline - as seen in other lengthy
piercement anticlines in the region. Alternatively, the breccia is associated
with a thrust that has penetrated a thick succession of R2 sediments which
explains duplication of the stratigraphic succession. However, the scattered
nature of the pits implies that other rafts of prospective R2 sediments or
mineralized breccias exist away from the main axis of this regional anticlinal
fold.

Within the open pits, Co mineralization occurs as black oxides, comprising
fine grained heterogenite intimately mixed with Mn oxides over widths of 2 to
over 10 metres infilling the breccia matrix, and on joints and fractures.
Little or no malachite was evident yet XRF analyses suggest that significant
Cu is finely dispersed within the black oxides and would contribute to the
value of the final product. Furthermore, partial evidence suggests that better
Co values occur with more lateritic material towards the upper portion of the
saprolite profile, although it was often common practice not to assay core if
no obvious mineralization was evident and therefore, fresher mineralization
may have been missed.

SWOT Analysis

Minex Consulting notes that a SWOT analysis has been done by the Simaks
technical team as follows. Italicized points were added by Minex:

 Strengths                                                                       Weaknesses

 ·    Located in a known copper endowed belt of the Central African Copper       ·    Not enough historical data
 Belt.

                                                                               ·    Only shallow exploration in supergene oxides
 ·    Cobalt mineralisation at shallow depths and high grades

                                                                               ·    Limited understanding of distribution of significant Co
 ·    Large area with favourable geology similar to other CCB deposits in        mineralization
 the area SE of Lubumbashi

                                                                               ·    Possible   NW   extension    limited   by permit boundary
 ·    No presence of illegal miners

 ·    Existence of an Agreement with SODIMICO registered with CAMI.

 ·    Long strike along a favourable structure with similar mineralization
 elsewhere
 Opportunities                                                                   Threats

 ·    No    systematic   exploration   in         the                            ·    The threat of illegal miners is common in the Congolese Copper Belt.
 licence.

                                                                               ·    Mineralization could be limited to supergene oxides
 ·    R2 beds open down dip and along strike

                                                                               ·    Negative price fluctuations
 ·    Located near good infrastructure and the DRC/Zambia border.

 ·    Easily accessible

 ·    Strong technical team with many years of experience on the CACB

 

Table 4: SWOT Analysis of the Kimono Project

 

Conclusions

1          Significant mostly secondary Co mineralization is
associated with a heterogeneous breccia that pierces a lengthy, NW-SE trending
anticlinal structure of Roan sediments in a setting analogous to similar Cu-Co
mineralization in this region of Katanga southeast of Lubumbashi.

2.         Isolated parts of <1km of nearly 5km of strike have not
seen any attention by artisanal mining or exploration along favourable
structures suggesting that the upside potential may be considerable.

3.         At this stage, the mineralization appears to be epigenetic,
although the physical association with favourable R2 lithologies does not rule
out the possibility that the metals have been remobilized from more extensive
stratiform sediment-hosted mineralisation at depth or along strike.

4.         The limited evidence from shallow artisanal mining and
drilling implies that better Co values are associated with supergene
enrichment, although the breccia and neighbouring favourable Mines Series
sediments are open ended down dip and probably along strike.

5.         Initial grab sampling gave Co values up to 1.8% with Cu
peaking at 0.63% associated with black oxides, a diagnostic tool seen as
indicating a favourable target by artisanal miners.

6.         Artisanal mining has been limited to obvious outcropping
favourable areas and a true appreciation of the structure and extent of
mineralization is not clear because of the lack of systematic historical
exploration.

7.         The favourable infrastructure, relatively shallow cover and
likely continuity of the strike of the host antiform are extremely positive
factors.

Notes: (1) USGS and other sources.

            (2) Misra KC, 2000, 'Understanding Mineral Deposits'.

 

The technical and related information in this report relates to exploration
results based on information from third parties and data compiled by Kazadi
S-B. Barry (MSc), Pr.Sci.Nat., MGSSA and Steffen Kalbskopf, Pr.Sci.Nat., FGGSA
(BSc Hons) who are members of the South African Council for Natural Scientific
Professions. Mr. Kazadi and Mr Kalbskopf have sufficient experience in the
style of mineralisation and type of deposit under consideration. Mr. Kazadi
and Mr Kalbskopf consent to the inclusion in this announcement of the matters
based on his information in the form and context in which it appears. Mr
Kazadi is a Managing Director of Mineral Exploration Associates SARL,
consultants (under the name Minex Consulting) to the Company. Mr. Kalbskopf is
a Senior Technical Advisor of Minerals Exploration Associates SARL.

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

Scott Kaintz 0207 747
9990
Director Red Rock Resources Plc

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

Jason Robertson 0207 374
2212
  Broker First Equity
Limited
 

French speakers may alternatively contact:

 

Ali Barro 0207 747 9990
 
Data Manager Red Rock Resources Plc

 

 

 

GLOSSARY

 

Anticline                               a ridge
or fold of stratified rock in which the strata slope downwards from the crest
(hence opposite of a syncline)

 

Antiform                               a
topographic feature which is composed of sedimentary layers in a convex
formation, but may not actually form a real anticline, in that the oldest
rocks may not be exposed in the middle

 

Arenaceous                        arenaceous rocks
(arenites) include all those clastic sedimentary rocks, typically sandstones,
whose particle sizes range from 2 to 0.06 mm, or if silt is included, to 0.004
mm

 

Argillaceous                        clastic sedimentary
rock containing silt- or clay-sized particles that are less than 0.0625 mm
and/or clay minerals. The term argillite is used for rocks which are more
indurated than claystone or shale but not metamorphosed to slate. All these
argillaceous rocks are consolidated equivalents of muds, oozes, silts, and
clays

 

Bornite                                  a
sulphide copper mineral with chemical composition Cu5FeS4

 

Breccia                                 a
sedimentary rock composed of broken fragments of minerals or rocks cemented
together by a fine-grained matrix

 

CAMI
the Cadastre Minier, or mining cadastre, of the DRC

 

Carbonate                          minerals in
chemically precipitated sedimentary rock containing the carbonate ion, such as
calcium carbonate CaCO3 (the chief constituent of limestone), dolomite
CaMg(CO3)2, and siderite FeCO3

 

Carrolite                               a
sulphide of copper and cobalt with chemical composition CuCo2S4

 

Chalcocite                          an important
sulphide copper mineral with chemical composition Cu2S

 

Chalcopyrite                      the most abundant
sulphide copper mineral with chemical formula CuFeS

 

Chlorites                               abundant
minerals of varying composition typical of mildly metamorphosed or altered
rock

 

Clastic                                   a
rock consisting of broken pieces of other rock

 

Covellite                               a
sulphide copper mineral found most often as a secondary mineral in supergene
environments

 

Dolomite                              a
sedimentary calcium magnesium carbonate rock

 

Epigenetic                           of mineral
deposits, formed later than the rock which encloses them, e.g. a vein

 

Evaporite                             a
water-soluble sedimentary mineral deposit that results from concentration and
crystallization by evaporation from an aqueous solution

 

Heterogenite                      a mineral oxide of
cobalt, sometimes containing copper and iron

 

Laminae                               small
scale thin layering or bedding sequences in a rock

 

Laterite                                 a
soil and rock type formed in tropical latitudes with high temperatures and
heavy seasonal rainfall, often forming clay-rich limonites and saprolites

 

Malachite                            a copper
carbonate hydroxide mineral, with the formula Cu2CO3(OH)2

 

Neoproterozoic the unit of geological time from 1bn to 538.8m years ago

 

Pedolith                                soil,
the upper subdivision of the regolith

 

Pelitic                                    a
metamorphosed fine-grained sedimentary rock, such as mudstone, siltstone or
shale

 

Piercement                         the piercing of one
structure by another

 

Pre-Cambrian                     all that period of the
Earth's history up to 538.8m years ago

 

Regolith                                all
that lies above the solid rock, including soil, ash, alluvium, saprolite and
organic material

 

Sabkha                                  a
coastal mudflat or sandflat in which evaporite-saline minerals accumulate as
the result of semiarid to arid climate

 

Saprolite
chemically weathered rock in the lower zone of the soil profile, partially
oxidised but retaining some lithic structure

 

Siliciclastic                           clastic
noncarbonate sedimentary rocks that are composed primarily of silicate
minerals, such as quartz or clay minerals

 

Stromatolite                         layered
sedimentary accretionary structures formed by micro-organisms in the
pre-Cambrian Era

 

Stratiform                             mineral
deposits concentrated within one or more strata of volcano-sedimentary and
sedimentary bedded rock formations

 

Sulphide                                sulphide
minerals are compounds in which sulphur is combined as an anion with a metal
or semi-metal cation; generated in volcanic or volcano-sedimentary rocks, they
include ore minerals of most metals used by man

 

Supergene                           used of processes
near the earth's surface, including mineral enrichment towards the base of the
oxidised zone as a result of the circulation of meteoric waters

 

Vuggy
containing vugs or cavities

 

XRF
X-ray fluorescence, a non-destructive analytical technique used to identify
the elemental composition of materials

 

 

 

 

 

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