Business
Migori and RSL update
Migori and RSL update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n RNS Number : 1491D Red Rock Resources plc 26 November 2009 \nRED ROCK RESOURCES PLC\nMigori and Resource Star Limited Update\nDated: 26 November 2009\nRed Rock Resources plc (\"Red Rock\" or the \"Company\") the mining exploration and development company focussed on advancing iron ore, manganese, gold and uranium projects in Australia and East Africa, announces that mobilisation of the first reverse circulation rig on site at the Migori greenstone belt in Kenya, on the northern part of the Tanzanian craton, is now expected on 7 December 2009. As announced on 17 September 2009, Red Rock currently has an interest of 15 per cent. in the issued share capital of Mid-Migori Mining Company Ltd ('MMM'), a company incorporated in Kenya which owns the beneficial title and mining rights to the Migori Gold Project and may acquire up to a total of 60 per cent of the issued share capital of MMM.\nThis rig will initially drill close-spaced holes to delineate the remaining gossanous areas of the old Macalder volcanic massive sulphide mine. \nAt the same time a diamond rig will be moved on site and will initially drill close-spaced auger holes on the tailings of the old Macalder mine.\nThe Company has obtained from the literature, most dating from twenty to fifty years ago, figures giving detailed resource, grade, and recoverability estimates for the gossan and tailing areas, but the evidence for these numbers is not available for verification and the calculations were made before adoption of the modern mineral codes. These codes set standards for recording and handling of data, core, and samples which it is not possible to be sure were met in earlier resource estimates, and therefore until this confirmatory work is carried out, Red Rock is unable to use most of this data or make appropriate resource claims in public announcements or feasibility studies. \nThe Company's purpose in the current programme is to increase and upgrade the NI 43-101 compliant Indicated Resource base of 1,172,000 oz of gold, and to identify areas of surface or near-surface mineralization capable of supporting an immediate production decision.\nIn addition to normal sampling, the Company needs to r...