On the 28th September, Red Rock Resources Plc announces that it has raised £1,000,000 and Share Talk spoke with Andrew Bell today to find out what are the short terms aim for the company now they are fully funded?
Andrew Bell, Chairman, comments: “Red Rock is entering a period of intense activity with active exploration due at its recently restored 1.2 million ounce JORC compliant gold resource in Kenya, and the IPO process for its new and highly prospective gold JV business in the Victoria Goldfields of Australia.
The operational work programme planned includes an acceleration of geological work on its copper/cobalt joint ventures in the Congo, alongside the two gold businesses in Kenya and Australia.
The Company will continue to be able to fund a significant part of its operations from existing resources, however this financing enables Red Rock to move immediately to exploit the opportunities we have now developed.”
The company announced it has received the Independent National Instrument 43-101 (“NI 43-101”) Technical Report (“NI 43-101 Report” or “Report”) on the BMV Gold Project held by JV company Red Rock Australasia Pty Ltd (“RRAL”).
Interpretation and Conclusions
The objective of this Report was to prepare an independent NI 43-101 Technical Report capturing historical information available for the Project area, evaluate this information with respect to the prospectivity of the Project, and present recommendations for future exploration and development on the Property.
The BMV Gold Project for the purposes of the Report has been defined as the eight exploration licences comprising the central block (6 licences – 5 contiguous) and the eastern block (2 contiguous licences) out of the twelve for which the JV has applied, all of which are subject to pending licence applications.
The BMV Gold Project is subdivided into two areas about 45 km apart, with the westernmost tenements referred to as the Ballarat-Yandoit Group (“B-Y Group”), consisting of the Ballarat-Buninyong Gold Property and the Daylesford-Yandoit Gold Property, and to the east, two exploration licences referred to as the Kilmore-Donnybrook Property. The approximate centre of each of these areas is about 88 km northwest (B-Y Group) and 47 km north (Kilmore-Donnybrook Property) of the State capital, Melbourne
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