After yesterday market announcement, we spoke with Andrew Bell, we asked, with the geographical sweep in the sense you have a 5 million market cap with three focuses with Australia, Kenya, Democratic Republic of Congo, is the market cap wrong or the assets?
Red Rock Resources Plc, the natural resource development company with interests in gold, copper, cobalt, manganese, and other minerals provides an update on operations.
Democratic Republic of Congo
· In the DRC, the Company expects to finish the first phase of its geophysical exploration programme at the copper-cobalt prospect at Kisinka near Lubumbashi this week, with the completion of the planned 70.95 KmL ground magnetic survey;
· The schedule has then been revised to allow the results to be analysed while the contractor carries out a nearby job before returning to conduct a 12 KmL induced polarisation survey;
· Work will resume at the Kolwezi joint venture where a significant copper-cobalt deposit has been delineated in order to bring the identified mineralisation envelope into compliance with a modern reporting code;
· Exploration programmes are being planned for two other highly prospective assets forming part of the joint venture.
· CSA Global (UK) Limited continue the work of updating the 1.2m oz gold Mineral Resource Estimate declared under JORC 2004 to JORC 2012;
· Camp and vehicle refurbishment have now been completed;
· A geoscientist and a community relations officer have been recruited in country and a process of stakeholder engagement and data review is under way as plans for the new year are developed;
· An experienced francophone London-based geologist and data manager has been recruited to start work in January for this and the Congolese projects.
· The team at Red Rock Australasia Pty Ltd (RRAL) in Ballarat, Victoria, has been strengthened with the addition of a community engagement officer, Kiara Reddingius. Kiara has a degree in Environmental Science and Mathematical Modelling and mining industry experience, and is a Level 1 Athletics Coach and an international heptathlete;
· RRAL continues its technical preparation so that exploration can begin on the first licenses immediately upon grant.
Red Rock Chairman Andrew Bell comments: “Everything is lining up for an active 2021 and we are pleased with the progress on all fronts. In each jurisdiction, as we move from the regulatory issues associated with grant and contract registration to operational issues, the timing comes under our direct control and we can pick up the pace.
Everywhere we do careful preparation, and everywhere we attach great importance to the early establishment of strong community relations and a culture of compliance with environmental law and best practice.
We believe we have exceptional projects, and with good science and good exploration we can bring their potential to light.
Our listed investment interests, on which we shall report separately, continue to prosper.”
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.
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