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Red Rock and Power Metals joint venture expands gold holdings in Australia

Exploration activity in Victoria has intensified significantly in the past year

Red Rock Resources PLC -

Red Rock Australasia PLC, a joint venture between Red Rock Resources PLC (LON:RRR) and Power Metal Resources (LON:POW) has applied for an additional tenement in the Central Victoria Goldfields of Australia called Kilmore West.

Red Rock Australasia already has 11 licences in the district. The new application has an area of 349 square kilometres, and will create for Red Rock a contiguous block in the Kilmore area of 835 square kilometres.

It would also bring total tenement area in the Central Victoria Goldfields now to 2,188 square kilometres.

Kilmore West contains numerous former mine workings and mineral occurrences and includes the old Donnybrook goldfield to the south of the licence.

"Our research confirms the production history and gold-bearing potential of these licenses and their under-exploration historically,” said Red Rock PLC’s chairman Andrew Bell.

“The degree of faulting, folding, and shearing in parts of the licenses make this an exciting area to explore at a time when structural understanding of the Goldfields is developing rapidly. The geophysics we conducted pointed to some new targets in areas just outside the Evergreen license, and we were particularly fortunate that they were still available."

Quick facts: Red Rock Resources PLC

Price: 1.005 GBX

AIM:RRR
Market: AIM
Market Cap: £9.77 m
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