TIDMRRR
RNS Number : 0480D
Red Rock Resources plc
16 June 2023
Red Rock Resources Plc
("Red Rock" or the "Company")
Grant of First Côte d'Ivoire Licence
16 June 2023
Red Rock Resources Plc, the natural resource exploration and
Development Company with interests in gold, copper, cobalt, lithium
and other minerals, announces an update to the announcements of
8(th) March 2023 and 18(th) October 2021 in relation to the
Company's operations in Côte d'Ivoire.
Key points:
-- Decree issued granting first licence to Red Rock subsidiary LacGold Resources SARLU
-- Initial licence term of 4 years
-- Licence covers 344.5 sq Km in the department of Djekanou and nearby
-- This is one of four Red Rock applications totalling 1,404.86
sq km in an area south of the capital, Yamoussoukro
-- Three more applications licenses in the north of the country about 1,122.88 sq km
-- Total area covered by applications and permits in Cote d'Ivoire is about 2,491.3 sq km
-- Each application is located on a known regional shear zone where gold mines are operating
-- Each application has significant artisanal mining occurring within and around it
Red Rock Chairman Andrew Bell comments : "The process of licence
grant in Cote d'Ivoire is methodical and not usually rapid. Our
first two grants have been in the final stage for some weeks, and
we are glad to see that the Conseil des Ministres has approved the
decree of grant for Djekanou at its meeting on 15(th) June
2023.
This is a milestone event as our Cote d'Ivoire subsidiary now
becomes active.
We will now complete a baseline study, introduce ourselves to
the relevant authorities, and start prospecting activity. We
consider Djekanou and its neighbours highly prospective for gold
mineralisation and look forward to beginning exploration with an
initial MMI (mobile metal ion) programme over the licence."
Further Information
The Djekanou-Taabo project, located 148 Km North from Abidjan.
The project is 21 km Northeast of the Agbaou Gold mine and 20 km
East of the Bonikro, Dougbafla and Hiré gold mines. The
Bonikro-Hiré projects sit on the Southern part of the Oumé-Fetékro
Granite Greenstone Belts. The Djekanou-Taabo project is located
between the Fetekro Greenstone Belt and the North-South Dimbokro
faults.
http://www.rns-pdf.londonstockexchange.com/rns/0480D_1-2023-6-16.pdf
FIGURE ONE
Map: application locations and the main gold deposits in Côte
d'Ivoire.
Intrusive host rocks at Hiré and Bonikro gold mines have been
dated at 2180+/- 6Ma and +/- 4Ma (U-Pb on Zircon), respectively.
These plutonic bodies acted as favourable sites for fluid flow due
to their brittle rheological characteristics.
The base formations of gneiss and volcano-sedimentary rocks were
intruded by tonalite-trondhjemite-granodiorite (TTG) type plutonic
rocks and undifferentiated granitoids. The Bonikro and Hiré gold
mines are a part of this granodiorite with NE shear zones similar
to the local NE shear zones seen at the Djekanou-Taabo project. The
project covers an area of 345 sq Km.
Regional soil sampling (on a 800m x100m grid) carried out in
2005 by a previous company, showed regional geochemical anomalies
with:
-- 1Km long up to 12 parts per billion surface gold ("ppb");
-- 1.2Km long up to 12 ppb surface gold;
-- Peak values returned of 1236 ppb.
3.5 kms to the North of the project, an area has been defined as
a small-scale mining zone where intensive illegal and
semi-industrial gold mines are targeting quartz veins hosted in
diorite and granodiorite with a general strike of North-South.
http://www.rns-pdf.londonstockexchange.com/rns/0480D_2-2023-6-16.pdf
FIGURE TWO
Map: the Djekanou licence.
GLOSSARY
Glossary
Diorite: a coarse grained intrusive igneous rock, the product of slow cooling.
Gneiss: metamorphosed granite.
Granodiorite: a coarse-grained intrusive igneous rock
intermediate between diorite and granite.
Rheology: the science of the deformation of matter.
Tonalite-trondhjemite-granodiorite rocks or TTG rocks: intrusive
rocks with typical granitic composition (quartz and feldspar) but
containing only a small portion of potassium feldspar.
This technical information in this announcement has been
compiled by the Company's consultant in Côte d'Ivoire, M. Koffi
Gbamele, a Member of the E-SGA and an Associate of the Australasian
Institute of Mining and Metallurgy (AusIMM). M Gbamele 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.
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 0207 374 2212 Broker First Equity Limited
Bob Roberts 0203 8696081 Joint Broker Clear Capital Corporate
Broking
This announcement contains inside information for the purposes
of Article 7 of Regulation 2014/596/EU, which is part of domestic
UK law pursuant to the Market Abuse (Amendment) (EU Exit)
regulations (SI 2019/310) and is disclosed in accordance with the
Company's obligations under Article 17.
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END
MSCFLFEVRIIRLIV
(END) Dow Jones Newswires
June 16, 2023 09:57 ET (13:57 GMT)
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