25th Mar 2015 12:46
LONDON (Alliance News) - Red Rock Resources PLC Wednesday said it has found "a number of high quality gold anomalies" at the Dabakala license in the Ivory Coast after collecting geochemical samples.
The mining and exploration company said it collected 648 composite soil geochemical samples from the license and has identified nine gold anomalies, three of which have been identified as the most significant, it said.
The three anomalies vary between 151 parts per billion to 385 parts per billion gold, but Red Rock said it is considering all nine anomalies at this early stage of exploration.
"Red Rock is planning the next stage of exploration, likely to involve infill soil sampling or shallow auger drilling along closely spaced grids over the high priority anomalies and the significant areas extending away from the anomalies that have not yet been the subject of any sampling for logistical reasons, particularly in the western portion of the license," it said.
"The sampling has resulted in some anomalies that our technical team regard as excellent and that are backed-up with a solid geological and structural story. These results provide support for our move into a country and area that has not seen the application of modern-day exploration techniques but where significant potential to make a new gold discovery exists," said Chairman Andrew Bell.
Red Rock shares were up 10% to 0.0990 pence per share on Wednesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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