TIDMRRR
RNS Number : 2567T
Red Rock Resources plc
16 July 2020
Red Rock Resources PLC
("Red Rock" or the "Company")
Red Rock Australasia - Blue Ribbon Project Update
16 July 2020
Red Rock Resources Plc, the natural resource development company
with interests in gold, manganese and minerals, announces an update
on its joint venture subsidiary Red Rock Australasia Pty Ltd
("RRAL").
RRAL has commissioned historical reports and targeting
assessments of its 11 license applications, and the first of these,
for the Blue Ribbon license (EL007285), has been received. The
license is 5 km north of the Ballarat East Mine.
In its announcement of 4(th) May the Company stated that
detailed information and references for the projects would be set
out, once received, on the Company's website, and the information
below will shortly be posted there.
KEY POINTS FROM REPORT
-- 19(th) century records show historical production of 70,000
oz of gold over 2km of the Dead Horse Lead within the Blue Ribbon
Project area;
-- Six gold nuggets between 10oz and 85 oz recorded from the
workings of the Ballarat Extension Company on the Project area;
-- Only work carried out on the tenement since the 19th century
has been data reviews and target generation;
-- Primary exploration target is the northern extension of the
Ballarat West Goldfield, assumed to be the source of the
palaeoplacer gold on the tenement;
-- Next exploration steps include include finalisation of drill
targets and implementation of a three hole, 1000m drill program,
subject to license grant and local approvals;
-- Blue Ribbon now a priority target for RRAL.
Red Rock Chairman Andrew Bell comments :
"Blue Ribbon was until this week by far the smallest of our
licenses at 8 sq km. It is however a highly prospective one, lying
between and contiguous to the Ballarat and Creswick goldfields, and
with the prolific Dead Horse Lead running through it.
We expect to be able to define drill targets at this Project
soon after grant. "
Further Information
The report runs as follows:
"EL007285- North-West of Ballarat
Tenement Local ID Size Mapping Municipality Current Status
ID (km(2) Sheet (1:100,000)
)
EL007285 NW Ballarat 8 Ballarat Ballarat Application
------------ -------- ------------------- ------------- ---------------
1.1.1. Regional Geology
EL007285 is located within the Bendigo - Ballarat Zone of the
Lachlan Fold Belt . The Bendigo Zone has an average width of 100km
and extends between the Avoca and Mt William Faults.
The basement stratigraphy of the tenement area consists of
folded N-S striking (result of E-W compression) interbedded
turbidite deposits of sandstone and siltstone of the Ordovician
Castlemaine Group. (Taylor et al. 1996)(1) . These sediments carry
a pervasive north-south foliation. (Horwood, 2011)(2) .
1.1.2. Local Geology
The Ordovician rocks are mostly concealed by Newer Volcanics
with minor Pliocene colluvial. The only exposure of Ordovician
sediments on the tenement occurs in the far eastern portion of the
tenement and are typical of those in the Ballarat field. Multiple
Cainozoic basalt flows have buried deep leads.
A graphitic slate zone (Black Slate) occurs throughout the
Ballarat West line and is essentially the only significant
lithological unit that can be extrapolated with confidence across
this line. This zone is not observed on the Ballarat East line.
The black slates of Ballarat West is a zone varying in thickness
from 22m to 44m, and consists of series of graphitic, dolomitic and
pyritic black slates, pyritic mineral seams, laminated quartz
lodes, crushed quartz and sandstones.
The lode generally occurs close to the lowest black slate member
in the zone, although two parallel lodes have been worked on
laminated quartz in several mines including the South Star and New
Kohinoor.
Being directly associated with the lode, the black slates have
been well recorded in most historical texts and workings and also
in recent drill holes where they occur, although in some mines
including the Sir Henry Loch, the entire zone has not been fully
exposed in development.
1.1.3. Mineralisation
The northern extension to the Ballarat West Goldfield is
projected to occur in the eastern portion of the tenement. The
mineralisation in this field is characterised by laminated quartz
reefs hosted within black slate beds containing bedding parallel
shears confined to west dipping fold limbs. The thrust faults
controlling this system extend locally across the fold hinges into
the east-dipping limbs as dilatant jogs within which quartz-vein
stockworks (tension vein arrays) were mined. (Horwood, 2011)
Several west draining deep leads occur in the central area of
the tenement and are typical of those found in the Ballarat
field.
1.1.4. Mining History/Production
The Deadhorse Lead produced 70,000 ounces over 2 km (Chintock,
2008)(3) of strike length downstream from the where the lead
crosses the projected northerly extension of the Ballarat West
goldfield.
Figure 1 - Ballarat West Goldfield and target position
Individual deep lead mine production from the major mines on the
tenement is listed in Table 1. Numerous small mines located on the
tenement are lacking individual production records.
Table 1- Major mine production from EL007285
Mine Production (Oz)
Ballarat Extension 21,396
----------------
Rose Hill GM 17,137
----------------
Great Northern Junction 6,233
----------------
Nil Desperandum Co 3,595
----------------
There is no record of primary gold production on the
tenement.
The quartz mines of the Ballarat West goldfield have produced a
recorded 800,000 ounces of gold at an average grade of
approximately 14 grams per tonne. A further 6 million ounces of
gold is estimated to have been won from the ancient river channels
which cross the field. (D'Auvergne, 1998)(4) .
1.1.4.1. Nearby Mining Activity
The Ballarat Gold Mine is currently mining the Ballarat East
line, 5 km's south of the tenement.
1.1.5. Exploration History
No exploration has been completed on the tenement since the
19(th) century short of data collation and target generation.
1.1.6. Exploration Strategy
The primary target on this tenement is the northern extension of
the Ballarat West Goldfield, assumed to be the source of the
palaeoplacer gold on the tenement.
This target is only 4 km north of the main Ballarat West field
and 2 km north of its northernmost mined quartz reef - the
projected Ballarat West field would fall within the tenement over
the zone considered to be the main target area based on
palaeoplacer gold occurrences.
In order to define this target, the following processes should
be considered:
-- Investigate drainage channel directions to narrow the zone
where the the gold originated from.
-- Review and interpret magnetic images to potentially interpret
structures masked by the basalt.
Other information to note:
-- Six gold nuggets between 10 and 85 ounces were recorded from
the workings of the Ballarat Extension Company and are unlikely to
have travelled far from their source. (Chintock 2008)
-- Quartz veining was been recorded in several palaeoplacer mines on the tenement.
It is recommended that diamond drilling be used once the base of
the basalt has been reached to allow the position within the fold
sequence of the Ballarat field to be determined. The lodes of
Ballarat West and for some-part Ballarat East are lithologically
controlled.
This area remains relatively undeveloped in regard to
residential development, allowing the potential to establish
multiple drill platforms.
Budget
Drilling- Once target is finalised, a 1000m drill program
consisting of 3 individual holes would cost approximately $150,000
including mobilisation and associated drilling costs."
(1) Taylor D.H., Whitehead M.L., Olshira A and Leonard J.G.
1996. Ballarat 1:100,000 map geological report 101, Geological
Survey of Vistoria
(2) Horwood D.J., 2011. Oroya Mining Ltd EL 4943, Ballarat North
Project, Annual Report for the period ending 31 December 2011.
(3) G. Chintock, 2008. Annual Report to Dept of Primary
Industries, VIC for EL 4943.
(4) D'Auvergne P, 1996. Ballarat Goldfields Pty Ltd. EL 3018,
Ballart Gold Project, Annual Report for the period ending 31
December 1998.
Competent Person Statement
The technical and related information in this report relates to
exploration results based on information from third parties and
data compiled by David Sharp, BAppSci, MAIG, who is a member of the
Australian Institute of Geoscientists. Mr Sharp has sufficient
experience in the style of mineralisation and type of deposit under
consideration. Mr. Sharp consents to the inclusion in this
announcement of the matters based on his information in the form
and context in which it appears. Mr Sharp is a Senior Geological
Consultant at Oreteck Mining Solutions, Melbourne.
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.
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
Mark Treharne 0203 700 2500 Broker Pello Capital Limited
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contact rns@lseg.com or visit www.rns.com.
END
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