Red Rock Resources
PLC
("Red Rock" or the
"Company")
Update
29
April 2024
Red Rock Resources Plc, (AIM:RRR)
("Red Rock" or "the Company"), is a natural resource development
company with interests in gold, base metals, battery metals, and
hydrocarbons principally in Africa and Australia.
This release is an update further to
the update of April 2024.
There is no update in relation to
the DRC as we await the appointment and Parliamentary vote on the
Prime Minister's new administration. With the selection of a
President of the Parliament on 24th April, this vote is
likely to take place after the President's return from a State
visit to France.
In relation to the Burkina Faso gold
project at Bilbale, a report has been received from the Company's
consultant which is reproduced below verbatim.
"BILBALE SITE VISIT - Mar/Apr
2024
The author visited the Bilbale Project Licence area located in
the Sud-Ouest Region, with Ali Barro and guided by Dieudonne
Dakissaga, country manager and a geologist by training. The visit
was carried out over several days in order to evaluate potential
high-grade targets as well as the amenability of the area to
support scalable operations and quick-start
operations.
With a surface of 183.62 km², the Bilbale project area is
located in the prolific Boromo greenstone belt. The region is a
major gold producing district. The Gaoua gold deposit (4.4 Moz) is
located 50 km to the south, and the Poura gold mine (3 Moz) is
located 70 km to the north. The Wa gold deposit (>1 Moz) in
Ghana is located 50 km to the south and the Konkera gold deposit
(3.3 Moz) of Ampella Mining is located 110 Km to the
south.
There is an extensive presence of artisanal gold working sites
on the permit area. Seasonal surface gold digging are done by
entire communities, in addition to high density artisanal mine
sites targeting the spectrum from alluvial to hard-rock mining to
depths of ~30 m. Several of these artisanal sites are in excess of
ten years old , covering significant areas and still being worked.
During this visit two brand new artisanal sites got
underway!
Rock chip sampling in 2020 included samples reported at 8.1
g/tAu, 6.25 g/tAu, 2.57 g/tAu, 2.56 g/tAu, 1.74 g/t Au, and 1.19
g/tAu. These grades underscores why artisanal digging is ongoing
over the project area.
At
the Tampoa site however things have moved up a notch where an
illegal miner brought in mechanised equipment and a large team of
people - this kind of operation is not allowed under local mining
law and WILL do significant damage to the legal permit holder!
Whilst government will support the owner, it remains the permit
holder prerogative to address the situation and put a stop to such
operations. I was advised that this operation has been stopped - no
mechanised equipment was seen operating during the visit - however
significant stockpiles on site was still being washed using holding
ponds and a pump-fitted borehole supplying constant large volume
water for the operation. Clearly Company has to continuously
enforce a real stoppage of this illegal operation! The only way to
effect this is by constant presence and my advice is that this site
immediately becomes the first quick-start alluvial test
site.
Historical geophysical airborne survey by Sarama Mining
Burkina (2011) revealed curved faults and shear zones, N-S
trending, through the entire permit. It became clear as this visit
unfolded that the structural geology of the permit area deserves
significantly more attention. A great benefit to the Bilbale
Project area is that it contains several rock outcrops, including a
significant road-cut that has to date not been investigated. It is
my opinion that this outcrop will play a key role in a better
understanding of the relationship between local Birimian gold
distribution and the structural history of the host
rocks.
There has been some limited drilling carried out over the
permit area by the current owner and previous holders. It was
unfortunately not possible to inspect samples, pulps or rock-chips
from these previous campaigns and I had to take a view on paper
copies and previously published results only. In preparation for
this site visit , I identified and subsequently confirmed 9 targets
for further detailed study and surface evaluation for
alluvial/elluvial placer potential of 6 targets.
PROPOSED WORK PROGRAM GOING FORWARD:
1. Embark on a
detailed geo-structural mapping program of select
areas
2. Embark on a
quick-start program production testing alluvial and placer deposits
employing specialist washing / concentration
plants
3. plan and execute a
drilling and associated assay program comprised
of
a. auger drilling over placers
b. RC drilling testing below placers and other
targets
c. Diamond core drilling for resource evaluations over deserving
stage 3 targets
4. Permitting process to
convert to Mining Licence(s) based on success.
CONCLUSION:
It
is the authors' opinion that the Bilbale Permit holds significant
potential that requires an aggressive program of value
enhancement.
It
is further my opinion that this permit can, if subjected to an
appropriate exploration program, realize a significant Resource and
Reserve in excess of 1 Moz over the next two
years.
Dr Willem J. Smuts
Pr.Sci.Nat. FSEG
(I am a Competent/Qualified
Person under the meaning of the Major Minerals Codes as applied to
various Stock Exchanges)"
The Company is currently arranging
four time-critical workstreams: (a) transport of the washing and
production equipment necessary for operations to Burkina Faso, (b)
the passports and other paperwork for some 25 expert external staff
who will be required to be in Burkina for the commencement of
operations, (c) transport from Asia of hire plant for excavation,
and (d) preparation of initial camp accommodation and eating and
security facilities on site for an initial daytime workforce
expected to exceed a hundred people. The first two of these
workstreams have been subject to bureaucratic delays and some
additional cost factors but are now under way.
The CEO and other senior personnel
will be on site to oversee camp preparations from late next week,
with a view to starting operations at scale from early June after
arrival of personnel and equipment. This timetable is subject to no
further delays at customs or in passport issuance or other official
paperwork requirements.
Red
Rock CEO Andrew Bell comments:
"We are absolutely committed to
driving this project to scaleable operation within weeks.
Great progress has been made to
overcome delays, and we
have been working, and will continue to work, day and night, seven
days a week, on this critical project implementation phase, with
strict cost control."
For
further information, please contact:
Andrew Bell 0207 747
9990
Chairman Red Rock Resources
Plc
Bob
Roberts 0203
8696081
Broker Clear Capital
Corporate Broking