Business
Update and Issue of Equity
Update and Issue of Equity.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9308I Red Rock Resources plc 22 June 2011 \n \n\nRED ROCK RESOURCES PLC\n \nUpdate - Greenland Exploration; Resource Star Limited; Option Exercise\n \nDated: 22 June 2011\n \nRed Rock Resources plc (\"Red Rock\" or the \"Company\"), the mining and exploration company with gold projects in Kenya and Colombia, and interests in steel feed, uranium, and rare earths reports developments on its earn in and exploration of iron ore deposits in North-West Greenland and on Resource Star Limited.\n \nGreenland\n \nLicence Area:\n \n· Increase of NAMA Greenland Ltd concession area to 1,013km2\n \nExploration Schedule:\n \n· March to June 2011, desktop study/field planning\n- Remote sensing study using ASTER imagery\n· July 2011, regional airborne geophysics\n- 13,170 line km magnetic and radiometric surveys to be flown beginning July 2011\n· June to September 2011, field validation of geophysical and geological targets\n- Geological mapping, traversing, with possible test drilling\n- 5 geologists, 5 field assistants\n· Summer 2012, infill with higher resolution geophysics and drilling\n \nThe concessions held by NAMA Greenland Ltd have increased in area from 644 sq km to 1,013 sq km, and further areas are being applied for. The areas have been mapped by the Geological Survey of Denmark and Greenland as Archaean greenstone with banded iron formations, magnetite, and haematite. They are undrilled and virtually unexplored. The licenses may also have gold and base metal potential. \n \nThe area lies to the North-East of Baffin Island, which contains the Mary River iron ore deposit recently acquired by a consortium led by Mittal.\n \nOn 17 June the Company began mobilisation to Greenland to explore its joint venture farm-in exploration properties at Thule. The initial exploration programme, which will be carried out by three teams and will involve ten geological staff with support, will focus on traversing, mapping, and sampling the iron ore province within the license area. \n \ncamp location map\nhttp://www.rns-pdf.londonstockexchange.com/rns/9308I_-2011-6-22.pdf\n&nb...