Business
Jupiter Mt Ida Update
Jupiter Mt Ida Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n RNS Number : 8808D Red Rock Resources plc 10 December 2009 \n \nRED ROCK RESOURCES PLC\nJupiter Mines - Conceptual Exploration Target of 1.1 - 1.3 Billion Tonnes For Magnetite At Mt Ida \n\n \nDated: 10 December 2009\nRed 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:\n\n\nMagnetite 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\n\n\nExploration Target calculated by independent Geological Consultants, BM Geological Services, using 3D modelling\n\n\nThe main Mt Ida Banded Iron Formation (BIF) has been extended by mapping to 7.5km x 1.5km\n\n\nExploration Target does not include magnetite potential at the Mt Mason prospect\n\n\n\nThe Conceptual Exploration Target Area may be viewed at the following link:\n \nhttp://www.rns-pdf.londonstockexchange.com/rns/8808D_-2009-12-9.pdf\n\n\nThe 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.\n\nUnder 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.\nFurther 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\nEnquiries:\n\n\n\n\n\nRed Rock Resources plc\n\n\n\n\n\n\n\n\n\n\n\n\n\nAndrew Bell, Chairman\n\n\n0207 402 4580/07766 474849\n\n\n\n\n\n\n\n\n\n\nJohn Watkins\n\n\n07768 512404\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNominated Advis...