10th Dec 2009 07:00
RED ROCK RESOURCES PLC
Jupiter Mines - Conceptual Exploration Target of 1.1 - 1.3 Billion Tonnes For Magnetite At Mt Ida
Dated: 10 December 2009
Red Rock Resources plc ("Red Rock" or the "Company") the mining exploration and development company focussed on advancing gold, iron ore, manganese and uranium projects in Australia and East Africa, announces that its 25.2 per cent owned associate company Jupiter Mines Ltd (ASX: JMS)("Jupiter") today announced a conceptual exploration target of 1.1 - 1.3 billion tonnes for magnetite at Mt Ida. Key points from the announcement were:
Magnetite potential at the Mt Ida prospect, part of Jupiter's Central Yilgarn Iron Project, estimated to range between 1.1 to 1.3 billion tonnes with an expected grade of between 30 per cent to 40 per cent Fe
Exploration Target calculated by independent Geological Consultants, BM Geological Services, using 3D modelling
The main Mt Ida Banded Iron Formation (BIF) has been extended by mapping to 7.5km x 1.5km
Exploration Target does not include magnetite potential at the Mt Mason prospect
The Conceptual Exploration Target Area may be viewed at the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8808D_-2009-12-9.pdf
The Jupiter announcement emphasised that the potential quantity and grade of the Mt Ida Project is conceptual in nature and there has been insufficient drilling to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
Under the terms of its 2006 agreement with Jupiter, Red Rock is entitled to a 1.5 per cent gross production royalty on all ore production from Mt Ida.
Further details of these sampling results are contained in the Jupiter announcement which can be accessed at: http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS
Enquiries:
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Red Rock Resources plc |
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Andrew Bell, Chairman |
0207 402 4580/07766 474849 |
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John Watkins |
07768 512404 |
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Nominated Adviser |
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Blomfield Corporate Finance Ltd |
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Peter Trevelyan-Clark/Ben Jeynes |
020 7444 0800 |
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Broker |
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Simple Investments Ltd |
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Nick Emerson, Renato Rufus |
01483 413500 |
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Public Relations |
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Lothbury Financial Limited |
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Ron Marshman |
020 7011 9411 |
Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.
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