RRK

Red Rock Energy Inc. (TSX VENTURE:RRK) announced today that, with the conclusion
of its 2010 exploration program and the continued geological compilation of
historical work in the Uranium City area, it has discovered a new uraniferous
mineralized zone. Dubbed the 'Redox Zone', the newly discovered zone is located
in the hangingwall of the St. Louis Fault approximately 600 m east of Red Rock's
46 Zone resource and about 500 metres northeast of the former producing Verna
Mine workings and the Bolger open pit. The zone was discovered during Red Rock's
field mapping and geological reconnaissance activities conducted through the
summer of 2010. Historic drill collars located in the field were later compiled
against historic drill logs and location maps which form part of Red Rock's
historic data set. Data available from source records indicate that the main
uraniferous zone and the subsidiary zones that comprise the the Redox Zone are
open to surface, laterally and at depth, thus providing several prospective
drill targets. Red Rock is now finalizing an exploration drill program to
further delineate this zone.


On Aug. 31, 2009 Red Rock announced an inferred resource at the 46 Zone of about
523,000 pounds U3O8 in 402,600 tonnes at a grade of 0.065% U3O8.


From the early 1950's to 1982, when Eldorado Nuclear Limited (ENL) was both
actively mining and exploring at Beaverlodge District, extensive drilling
northeast of Verna-Bolger along both sides of the geologically favourable St.
Louis Fault was completed. This work resulted in, among other things, the
discovery of the 11 (hangingwall deposit), 21 and Dubyna zones (both footwall
deposits), all of which were mined by ENL. With respect to the Redox Zone, which
exists between the Bolger and 11/21 zone deposits, a preliminary review of the
assay data for numerous B-series drill holes drilled by ENL in this area,
identified at least 10 holes that encountered uranium mineralization at depths
ranging from approximately 60 m to 320 m below surface. Historically, the Verna
mine produced a total of 14.26 million pounds U3O8 at a grade of 0.190% U3O8 and
the Bolger open pit produced 752,700 pounds U3O8 at a grade of 0.240%. All of
this historic production came only from the hanging wall side of the St. Louis
Fault. As well, in the Eldorado Mine Closure report published in 1982 by Don
Ward (former Eldorado Nuclear Chief geologist), it was determined that the
unmined underground portions of the Verna-Bolger area uranium deposits contain a
now historic resource of 8.99 million pounds U3O8 (this and all other historical
resource estimates in this press release are non N.I. 43-101 compliant, but are
believed by management of Red Rock to be relevant and reliable as having been
prepared in accordance with the then current industry standards). 


This historic surface and underground production from the Verna-Bolger area is
within a few hundred metres of Red Rock's previously announced development
prospect the 46 Zone or East Target, which is in footwall rocks and thus
geologically similar to the Ace and Fay ore bodies that were historically mined
to the southwest producing 35.39 million pounds of U308 and containing 7.99
million pounds of U308 in historical unmined resources, as identified by Don
Ward in his 1982 Eldorado Mine Closure Report, (Non 43-101 compliant resources).


Based upon the results of the initial review, Red Rock staff constructed a 3D
model of the Redox Zone, which consists of one main and several uraniferous
sub-zones. Of the zones modeled, ENL holes B147 and B308 both intersected the
main uraniferous zone; this zone has lateral continuity of greater than 150 m
and has intercepts that assay 0.072 % U3O8 across 15.2 m (50 ft) and 0.079 %
U3O8 across 17.0 m (55.8 ft), respectively, in these two holes. Within each of
these intercepts there are higher grade intervals approximately 130 m to 230 m
below surface that assay 0.171% U3O8 across 4.57 m (15 ft) in hole B147 and
0.116% U3O8 across 5.79 m (19 ft) in hole B308. 


In reviewing this data, Sandy Loutitt, President of Red Rock, commented: "The
discovery of the Redox Zone is another step forward in the realization of our
strategic goal to define new ore bodies at the Uranium City camp. Once again we
have successfully applied new and modern exploration techniques to evaluate
areas on the periphery of older zones that have a known extent of existing
mineralization. The financial and geological advantages are obvious with this
approach given that the Redox Zone is within several hundred metres of
approximately 9 million lbs of historic (Non 43-101 compliant) resources and
within 1 km of approx 17 million lbs of total historic resource (Non 43-101
compliant) as defined by the 1982 Eldorado Mine closure report". 


Reg A. Olson, Ph.D., P. Geol., a Qualified Person under NI 43-101 and supervisor
Red Rock's 2010 and 2011 exploration programs, has reviewed and is in agreement
with the contents of this release. Readers are cautioned that historical mineral
estimates and resources referred to herein are non NI 43-101 compliant. Mineral
resources that are not mineral reserves do not have demonstrated economic
viability.


READER ADVISORY

Statements in this press release may contain forward-looking information
including expectations of future production, operating costs, commodity prices,
administrative costs, commodity price risk management activity, acquisitions and
dispositions, capital spending, access to credit facilities, income taxes,
regulatory changes, and other components of cash flow and earnings. The reader
is cautioned that assumptions used in the preparation of such information may
prove to be incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of
the company. These risks include, but are not limited to, the risks associated
with the mining industry, commodity prices and exchange rate changes. Industry
related risks could include, but are not limited to, operational risks in
exploration, development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and safety risks and
the uncertainty of estimates and projections of production, costs and expenses.
The reader is cautioned not to place undue reliance on this forward-looking
information.

Grafico Azioni Red Rock Energy Inc. (TSXV:RRK)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Red Rock Energy Inc. (TSXV:RRK)
Storico
Da Lug 2023 a Lug 2024