leadf
logo-loader
viewRed Rock Resources PLC

Red Rock Resources unearths more iron at Greenland project

ironore2_350x230_508ea34d65dbc.jpg

Red Rock Resources (LON:RRR) today told investors that it has unearthed more banded iron formation (BIF) at the Melville Bugt project in north west Greenland.

The maiden drill programme was extended its work on an area of BIF in the Havik East part of the project, so that it could better define a potential resource.

Through this work it identified the Havik northeast area of BIF, which is believed to be an extension of the main body.

The drilling extended the zone by 350 metres to the west. It also confirmed a 1,500 metres strike length and delineated a second pod of thickened BIF around 1.5 kilometres from the primary BIF target.

Grades obtained through analysis to date have had average grades of 23.1% at Havik East and 21.9% at Havik Northeast - though these analysis has yet to be verified by the findings of the drill programme, which should provide a more accurate measure.

According to Red Rock Melville Bugt’s maiden resource estimate is expected later this year.

Quick facts: Red Rock Resources PLC

Price: 1.07 GBX

AIM:RRR
Market: AIM
Market Cap: £10.41 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Red Rock Resources PLC named herein, including the promotion by the Company of Red Rock Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Red Rock Resources PLC boss hoping to be cash flow positive by year's end

Andrew Bell, chairman of Red Rock Resources PLC (LON:RRR), is hopeful that the mineral exploration and production company will be ”showing appreciable positive cash flows” by the end of 2016. Bell tells Proactive that if everything goes to plan at Shoats Creek, Red Rock will also “be...

on 1/4/16

2 min read