Business
Assessment of Ajax Mine Potential
Assessment of Ajax Mine Potential.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \n \n \n Red Rock Resources PLC\n \n \n \n \n (\"Red Rock\" or the \"Company\")\n \n \n \n \n Victoria Gold JV\n \n \n \n \n Assessment of Ajax Mine Potential\n \n \n \n \n \n \n \n \n \n 1 August 2022\n \n \n \n Red Rock Resources Plc, (\"Red Rock\" or \"the Company\"), a natural resource development company with interests in gold and base metals, principally in Africa and Australia, announces an update in relation to its 50.1% held gold joint venture New Ballarat Gold Corporation Plc (\"NBGC\") in the Victoria Goldfields of Australia where 1,832 sq km of exploration ground is held through NBGC's subsidiary Red Rock Australasia Pty Ltd (\"RRAL\").\n \n \n Following the announcement of 24 May 2022, noting the grant of the key licence EL 007330 containing the historic Ajax mines, RRAL staff have continued to work on developing gold exploration targets. Average lode thicknesses taken from the literature have been set in a wireframe model of the mineralised structures and combined with production and exploration information to create upper and lower grade estimates. The exploration targets generated are conceptual in nature. Once the initial programme designed to validate the models has been completed, it may be possible to further refine the targets and apply discount factors to better estimate the probability of economic quantities and grades being present. \n \n Highlights\n \n Ajax\n \n \n ·\n \n Initial exploration target confirmed for historical Ajax mines of 254,318 tonnes to 1,422,443 tonnes at a grade range of 6.4 g/t to 18.7 g/t. \n \n \n \n \n \n \n \n \n ·\n \n Only near-term targets so far defined, with additional targeting likely along strike and down plunge and potentially parallel reef systems to the east and at depth.\n \n \n \n \n \n \n \n \n ·\n \n First phase drilling anticipated before end of 2022.\n \n \n \n \n \n \n \n \n \n \n \n \n \n Target\n \n \n \n \n \n \n plunge Extent\n \n \n \n \n \n \n width extent\n \n \n \n \n \n \n Range\n \n \n \n \n \n \n Thickness\n \n \n \n \n \n \n Tonnes\n \n \n \n \n \n \n Grade\n \n \n \n \n \n \n Ounces\n \n \n \n \n \n \n \n McMillans\n \n \n \n \n 600\n \n \n \n \n 150\n \n \n \n \n lower\n \n \n \n \n 0.9\n \n \n \n \n 216,270\n \n \n \n \n 6.4\n \n \n \n \n 44,500\n \n \n \n \n \n \n \n avg\n \n \n \n \n \n \n 2\n \n \n \n \n \n...