Business
Update on Australian Joint Venture Subsidiary
Update on Australian Joint Venture Subsidiary.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8354U\n Red Rock Resources plc\n 07 December 2021\n \n \n \n \n Red Rock Resources PLC\n \n \n (\"Red Rock\" or the \"Company\")\n \n \n Share Exchange Agreement on Australian Assets\n \n \n Grant of New Licence in Victoria\n \n \n Results From Soil Sampling Programme \n \n \n Testing of Multiple Strike Extensions by Drilling to Begin in December 2021\n \n \n \n \n \n 7 December 2021 \n \n \n Red Rock Resources Plc (\"Red Rock\" or \"the Company\"), the natural resource development company with interests in gold, manganese and copper, announces an exploration update, further to that of 16 September 2021, from its joint venture subsidiary Red Rock Australasia Pty Ltd (\"RRAL\") which is undertaking gold exploration at its granted licences in the Victoria Goldfields in Australia.\n \n Highlights\n \n \n · \n \n Red Rock exchanges shares in RRAL for 50.1% of newly formed New Ballarat Gold Corporation PLC - a UK public company which now owns 100% of RRAL and will be the vehicle for a possible listing in London.\n \n \n \n \n \n \n · \n \n Grant of new 164 km2 exploration licence EL007328 in Victoria, Australia, with 8 licences now granted covering 1,012 km2.\n \n \n \n \n \n \n · \n \n 1091 soil samples tested by Portable X-ray Fluorescence (pXRF) significantly confirm regional correlation of arsenic anomalism with gold workings and gold-bearing structures \n \n \n \n \n \n \n · \n \n Identification of wide North-South anomaly continuing North of Buninyong with 1 km length, and parallel 400m structure \n \n \n \n \n \n \n · \n \n South of Buninyong at O'Loughlins, a diamond drill programme on 1 km long structures planned to begin in December. \n \n \n \n \n \n \n · \n \n Advanced planning for drill programme at Pitfield early in new year, with further target identified for potential February drilling\n \n \n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/8354U_1-2021-12-7.pdf\n \n \n Map 1: Arsenic in Soils - Buninyong EL007271. Large anomaly to SE is O'Loughlins prospect, S and central is previously defined Monmouth prospect\n \n \n \n Red Rock Chairman comments: \"\n \n With the completion of the share exchange agreements at RRAL, Red Rock and Power Metal Resources PLC become the initial shareholders of New Ballarat Gold Co...