Projects Overview

Red Rock currently manages a diverse portfolio of mineral exploration and production assets and investments with which it seeks to develop and maximize value.  New cash generative investments are also currently underway in the oil and gas sector. 

Ivory Coast - Gold Exploration

  • Gold exploration venture – 3 licences granted totalling c. 1,185km2
  • Interests in additional licences under application in central and eastern Ivory Coast 
  • Comprehensive analysis conducted to determine where gold exploration upside exists
  • Several major gold deposits proximal or along the same mineralised trends
  • More West African Birimian greenstone geology in Ivory Coast than any other country – 35% vs Ghana’s 19%

Kenya - Gold Resource and Exploration

  • Red Rock is currently challenging the termination of its Special Prospecting Licences 122 and 202 with the Kenyan Ministry of Mining
  • Agreement with Kansai Mining Corporation executed for a 75% interest following successful licence recovery
  • Mikei Resources contain JORC Indicated and Inferred Resource Estimates at 0.5g/t Au cut-off: 29.4Mt at 1.26g/t Au with contained metal content of 1.2Moz Au over five deposits
  • Macalder Tailings with a JORC Measured Resource of 1.3Mt at 1.7g/t Au with contained metal content of 68koz Au. An application for a Mining Licence is pending approval
  • More than 30 regional targets with significant upside within the Migori Greenstone Belt, part of the Tanzanian Craton, approximately 40km north of Acacia’s North Mara gold mine in Tanzania

Greenland - Iron Resource and Exploration

  • Red Rock owns 60% of Melville Bugt Ltd (“MBL”), which owns the 1,570km2 licence on which the Melville Bugt Iron Project is located
  • Recognised potential for high grade haematite (Direct Shipping Ore) with grades in excess of 60% Fe in the eastern licence areas
  • Licence contains a JORC Inferred Mineral Resource Estimate of 67Mt at 31.4% Fe at Havik East and Havik Northeast
  • Davis Tube testwork from resource samples show a high-quality concentrate can be produced with mass recovery of approximately 40% for a concentrate grading at approximately 70% Fe
  • Additional twelve exploration targets confirmed by SRK Consulting with a potential tonnage of between 158Mt and 474Mt
  • Nearby Mary River mine in Baffin Island and project comparator entered into production despite weak iron prices

Shoats Creek - Oil and Gas Development

  • RRR has a 20% Working Interest / 14.4% Net Revenue Interest in the LM20 oil well currently in production in addition to several wells currently planned to be drilled and completed in 2016
  • Red Rock is partnering with Northcote Energy (AIM:NCT) on development of the Shoats Creek project in Beauregard Parish, Louisiana, USA
  • Development at Shoats Creek seeks to exploit the Lower Frio Sands formation at approximately 5000' using low-cost vertical wells
  • The first well LM20 has test flow rates of 260 BOPD and 500 MCF of gas per day; success at the LM20 well de-risks a further three drilling locations on the field
  • Shoats Creek marks the transition of the Company to a revenue generating oil and gas producer
  • Project economics remain robust at current oil prices