Business
Australian Gold - Joint Venture Update
Australian Gold - Joint Venture Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 7458O\n Red Rock Resources plc\n 03 June 2020\n \n \n \n \n Red Rock Resources PLC\n \n \n (\"Red Rock\" or the \"Company\")\n \n \n \n \n \n Australian Gold - Joint Venture Update \n \n \n \n \n \n 3 June 2020 \n \n \n \n \n \n Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and minerals, is pleased to announce an update on its joint venture subsidiary Red Rock Australasia Pty Ltd (\"RRAL\"). \n \n \n Highlights:\n \n \n ● \n The Company through RRAL has applied for four additional gold exploration license areas totalling 916 sq km in the Central Victoria Goldfields of Australia. \n \n \n \n \n \n ● \n The applications double RRAL's landholding position to 1,835 sq km and will make it one of the largest tenement holders in the Goldfields.\n \n \n \n \n \n ● \n The combined applications now cover a 100 km North-South stretch of contiguous tenements centred on the great mining town of Ballarat following historic mining centres and extensive evidence of gold mineralisation throughout.\n \n \n \n \n \n ● \n The applications also cover ground to the West along the structural boundary between the Bendigo Zone and the Stawell Zone further West, including ground near another old mining centre, Avoca.\n \n \n \n \n \n ● \n Finally the applications now cover a conceptual target area along the structural boundary between the Bendigo Zone and the Melbourne Zone to its East where RRAL has as its near neighbour on both sides the recently listed Canadian explorer Fosterville South (TSX-V:FSX).\n \n \n \n \n \n \n Red Rock Chairman Andrew Bell comments\n \n :\n \n \n With 1,835 sq km now under application RRAL's interests cover areas of exceptional prospectivity and areas with a long mining history. \n \n \n \n RRAL is working to examine the past production record in each license area, and identify our first targets, and as this information is verified and becomes available, by project, we look forward to updating the market.\n \n \" \n \n \n FURTHER INFORMATION:\n \n \n ● \n RRAL is a joint venture company 50.1% owned by Red Rock and 49.9% by Power Metal Resources plc (AIM:POW)(\"POW\"). Paul Johnson, CEO of POW, has joined the board of RRAL. Andrew Bell, Red Rock and POW Chairman, is a director of RRAL. \...