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Red Rock Resources unearths more iron at Greenland project


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.

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Price: 1.07 GBX

Market: AIM
Market Cap: £10.41 m

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