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Red Rock Resources PLC rises as it begins geophysics programme at Luanshimba

The company said the objective of the survey is to identify conductive targets and improve understanding of local structure to optimise subsequent drill targeting at the site, located in the Congolese Copperbelt

() said a team has been mobilised to begin a programme of geophysics at its Luanshimba license in the south-east of the Democratic Republic of Congo to follow up a strong copper and cobalt anomalism identified in the southern part of the license by termite mound sampling in 2018.

The AIM-listed firm said the programme will consist of a 70.95 Kml ground magnetics survey on a north-south spacing of 100 metres and an east-west spacing of 200 metres, a 12 Kml induced polarization survey on 6 lines of 2 Kml each, the provision of raw data from Ronacher McKenzie Geoscience for interpretation and checking on-site artisanal activity.

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Red Rock the objective of the survey will be to identify conductive targets and improve understanding of local structure to optimise subsequent drill targeting.

“The strong anomalies obtained from initial exploration in this favourable geological setting, with copper values in the regolith samples ranging up to 519 ppm and cobalt values up to 425 ppm, are likely very significant in this part of the Copperbelt and suggest the presence of copper and cobalt mineralisation at depth”, Red Rock chairman Andrew Bell said in a statement.

“Once we start pitting and drilling we are likely to have to maintain a continuous presence on site to keep artisanal activity under control, so good preparatory work including geophysics which will enable us to refine targeting and develop a cost-effective programme for subsoil exploration was a critical next step and is now under way. We are pleased to have identified and mobilised to site in these difficult times a technically strong multinational team to conduct our geophysics”, he added.

Shares in Red Rock jumped 2.8% to 0.75p in mid-afternoon trading on Friday.

Read More: Red Rock Resources PLC rises as it begins geophysics programme at Luanshimba

2020-11-20 07:23:00

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