Red Rock Resources confirms drilling start date at Migori project
26 November 2009
Mining group Red Rock Resources today said that the first rig to arrive on site at the Migori greenstone belt in Kenya, on the northern part of the Tanzanian craton, was expected on December 7, 2009
Red Rock, which has iron ore, manganese, gold and uranium projects in Australia and East Africa, has a 15% stake in the project through its interest in Mid-Migori Mining Company Ltd. It retains the right to increase that holding to 60%
This rig will initially drill close-spaced holes to delineate the remaining gossanous areas of the old Macalder volcanic massive sulphide mine. At the same time a diamond rig will be moved on site and will initially drill close-spaced auger holes on the tailings of the old Macalder mine.
While Red Rock has access to historical records on the resources at the project, it is understood that none of the information is sufficient to give an accurate view without further work with the drill bit.
It now wants to increase and upgrade the NI 43-101 compliant indicated resource base of 1,172,000 ounces of gold, and to identify areas of surface or near-surface mineralisation capable of supporting an immediate production decision.
Separately, Red Rock’s 24.4% owned Australian associate company, Resource Star, has filed a prospectus for relisting in Australia along with an offer to raise A$5 million.
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