REG - Red Rock Resources - Victoria Goldfields - Beringa Update

Red Rock ResourcesAnnouncement

16/02/2023 10:00

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RNS Number : 1559Q  Red Rock Resources plc  16 February 2023

16 February 2023

Red Rock Resources PLC

("Red Rock" or the "Company")

Victoria Goldfields Australia - Berringa Gold Mine Drilling/Corporate Update

Red Rock Resources Plc (LON:RRR), a natural resource development company with
interests in gold and base metals, principally in Africa and Australia,
announces an update in relation to the tenement holdings and exploration
activity of the Company's Victoria Goldfields joint venture ("JV").

Andrew Bell, Chairman of Red Rock Resources Plc commented:

"We have successfuly renewed the exploration licence covering the historic
Berringa gold mine, where we are currently undertaking a diamond drill
programme, which is a significant development for our Victoria Goldfields JV.

The drilling is progressing well with three drill holes completed to date.
Visible gold has been encountered in all three holes.  This shows the
accurate targeting of the structures by the geological team, and we look
forward to receipt of detailed assay data as soon as possible.

Geologically, all drillholes completed thus far have successfully intersected
the down dip and along strike extensions of the target mineralised zones.

We believe our JV in the Victoria Goldfields is adding value with each stage
of the  exploration work."

HIGHLIGHTS:

-      The Company's inaugural drilling programme, designed to test for
the downdip and along strike extensions of the historical Berringa Gold Mine,
is progressing well with three holes now completed totalling 655.9m of the
originally planned 1000m. Drilling of the programme's fourth hole, BED23004,
is expected to start shortly.

 

-      All holes which have been drilled and logged to date have
successfully intersected target geological formations and demonstrated visible
gold within extensions of the Berringa mineralised lode's including:

 

 

o  Drillhole ("DH") BED23001 (targeting South Birthday Zone): Successfully
intersected a 9m wide mineralised quartz vein from 380.5-389.5m downhole as
well as another 0.20m mineralised quartz vein from 421-421.2m downhole
including minor visible gold mineralisation.

o  Drillhole BED23002 (targeting Berringa Syndicate Zone): Successfully
intersected a 9.6m wide mineralised structure from 89.2 - 98.8m which included
minor visible gold mineralisation. DHBED23002 also intersected abundant quartz
veining from 89.2m to 94.1m and 96.5m to 98.8m downhole.

o  Drillhole BED23033 (targeting Berringa Syndicate Zone): Detailed core
logging underway, preliminary observations have identified visible gold within
the core.

 

-      The JV's Berringa exploration licence ("EL") 5535 has successfully
been renewed for a five-year term expiring November 2027.

 

-      Assay test results for the first two drillholes are pending and
will be released to the market once received, checked and compiled by JV
geologists. The assay testing method will use both traditional fire assay, and
bottle roll testing, to ensure the results capture course fraction gold as
demonstrated by the visible gold on the drill core surface in all holes
completed to date.

JOINT VENTURE STRUCTURE

The joint venture is held through New Ballarat Gold Corporation PLC ("NBGC"),
which is focused on the prolific Victoria Goldfields of Australia. The JV is
between Red Rock (50.1%) and its partner London-listed Power Metal Resources
Plc (49.9%) (together the "JV Partners").

NBGC has a wholly owned Australian operating subsidiary Red Rock Australasia
Pty Ltd ("RRAL") which holds a strong land position comprising seventeen
granted exploration licences and one purchased licence for a total area of
1,867km(2) within the gold fields of Victoria, Australia, principally
surrounding the mining centre of Ballarat, Australia.

In addition, 2 licences covering 467km(2) await grant. The JV has carefully
assembled its portfolio of properties comprising a broad range from robust
exploration targets to near term resource potential, all of which remain
largely undeveloped by modern explorers.

The JV Partners have the intention of listing the JV company NBGC and will
make further announcements as appropriate.

QUALIFIED PERSON STATEMENT

The technical information in this report is compiled by David Holden, BSc,
MBA, MEM, who is a member of the Australian Institute of Geoscientists and the
Executive Officer and Exploration Manager of RRAL. 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 visit www.rrrplc.com (http://www.rrrplc.com/)
 or 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 0207 374
2212
                 Broker First Equity Limited

 

NOTE TO EDITORS

Red Rock Resources plc - Background

Red Rock Resources plc (LON:RRR) is an AIM listed metals exploration company
focused on gold, copper and battery metals and principally active in Africa
and Australia. It has historically been involved with production as well as
exploration, having brought a historic gold mine back into production in
Colombia and participated in the development to production of a major open pit
manganese mine in South Africa.

The Company currently has gold exploration projects in Kenya, West Africa and
Australia, copper/cobalt exploration in Congo, and lithium exploration in
Zimbabwe.

 

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