Business
Announcement re Jupiter Mines
Announcement re Jupiter Mines.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n RNS Number : 7146Z Red Rock Resources plc 19 January 2011 \n \n\nRED ROCK RESOURCES PLC\n(\"Red Rock\" or the \"Company\")\nAnnouncement re Jupiter Mines Limited\nDated: 19 January 2011\nRed Rock notes the announcement made by its 5.23% owned associate Jupiter Mines Limited (ASX:JMS) (\"JMS\") today, in which JMS announced the completion of the first phase of the planned drilling program at JMS' Mt Ida Magnetite project. Red Rock maintains a 1.5% gross production royalty in Mt Ida. Highlights of the JMS announcement included:\n· Maiden Inferred magnetite resource at Central Mt Ida is 530 million tonnes at 31.94% Fe, \nexceeding earlier expectations. The results are summarised in the table below:\n\n\n\n\n\n\n\nMt\n\n\nFe%\n\n\nSiO2%\n\n\nAl2O3%\n\n\nP%\n\n\nS%\n\n\n\n\nCentral Mt Ida\n\n\n530\n\n\n31.94\n\n\n45.88\n\n\n1.10\n\n\n0.074\n\n\n0.201\n\n\n\n\n Notes: Head grade cut off 15% Fe\n Density estimated of 3.2t/m3 was applied\n· Resource was generated from 11,898 metres of drilling conducted on the Central Area only\n· The resource model of the Central Area shows six flat lying magnetite lodes extending from 50 \n to 300 metres in depth \n· Mineralisation is open to the north and south of the tested Central Area \n· Further drill programs are planned to increase the Inferred resource by exploring the Southern \n and Northern Areas, whilst advancing the Central Area to Measured and Indicated status\n· It is intended that the results will serve as basis for a Feasibility Study during 2012\n· The maiden resource generated for the Central Area confirms a significant magnetite project at \n Mt Ida\nThe full text of the JMS announcement and its investor presentation \"Building a new supplier of raw materials for the steel industry\" can be accessed via the following link:\nhttp://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS \n\n \nEnquiries:\n\n\n\n\n Andrew Bell\n\n\n0207 402 4580 or \n07766 474849 \n\n\nRed Rock Resources plc\n\n\nChairman\n \n\n\n\n\n\n\n\n\n\n\n\n\...