
Red Rock Resources Plc is a mineral exploration company focused on the discovery and development of gold, uranium and other minerals, both through exploration for, and exploitation of, mineral deposits, through the acquisition and disposal of interests in actual or potential mineral deposits or companies holding them in exchange for cash, securities, or royalty and other deferred interests, through buy-in agreements and joint ventures with such companies, and through public offerings of securities in subsidiary or associate companies. Red Rock Resources (AIM: RRR) listed on London’s AIM market in July 2005.
The principal operational focus of the Company in 2010 is its gold assets.
GOLDIn late 2009, Red Rock announced the conditional acquisition of a 60% interest in the 68km Migori greenstone belt in South West Kenya. The Migori belt is an Archaean greenstone belt, relatively lightly explored over the greater part of its length, but with historic gold and base metal production including the well known Mcalder VMS copper-zinc mine. The tenements have a
43-101 Indicated Resource of 1.72m oz gold.
Red Rock has drilled the tailings and begun trenching. It awaits laboratory resuts from these, from 5 diamond holes on the existing resource areas, as well as some RC holes drilled in late 2009-early 2010 on new targets.
Further gold prospectivity exists in the Oakover license in the Pilbara.
IRON ORE/MANGANESEThe company's investmesnts are now principaly held through a 25.2% stake in ASX-listed associate company
Jupiter Mines Ltd (ASX: JMS), which holds the WA assets of Red Rock, and is controlled by the Red Rock-Pallinghurst consortium, also including POSCO.
Other exploration assets are held in WA, Tasmania, and East Africa.
URANIUM
From 12 February 2010 Red Rock’s
uranium and rare earth interests in the Northern Territory of Australia, WA, and Malawi will be held through a 20% stake in ASX-listed associate
Resource Star Ltd (ASX: RSL). Resource Star is run by a team headed by Richard Evans, formerly of Western Mining Corporation, and Red Rock maintains strong board representation. RSL has just completed a AU$5m fundrise.
Red Rock also holds a 15.78% stake in TSX-listed
Cue Resources Inc. The principal asset of Cue is 100% of the 230,000 hectare Yuty uranium project in Paraguay. The defined mineralisation is interpreted to be a sandstone-hosted roll-front uranium deposit, and the Yuty license is interpreted to contain 130 km of a regional redox front with multiple uranium targets. One of these, San Antonio, has seen significant exploration and contains an I
ndicated Resource of 8.3m Ibs at 420 ppm U3O8 and an Inferred Resource of 1.2m Ibs at 500 ppm U3O8.