leadf
logo-loader
viewRed Rock Resources PLC

Red Rock and Power Metal weigh up options for Australian joint venture as NI43-101 report highlights excellent exploration potential

The joint venture holds a significant swathe of ground in a highly prospective area

Red Rock Resources PLC -

Rock Resources Australasia Ltd, a joint venture between Red Rock Resources PLC (LON:RRR) and Power Metal Resources (LON:POW), has released the results of an NI 43-101 technical report on the BMV gold project.

BMV comprises eight exploration licences out of the twelve for which the joint venture has applied, all of which are subject to pending licence applications. 

The report highlights several areas where the exploration potential is “excellent.”

"The completion of the NI 43-101 Report is a milestone on the progress of Red Rock Australasia Ltd towards our aim of a listing for the Australian business on a major public market,” Red Rock Resources chairman Andrew Bell said in a statement.

“Red Rock Australasia's footprint, represented by its pending licence applications in the Victoria Goldfields, compares well in size and quality with its peer group. RRAL is positioned to benefit from the boom in goldfields exploration and the deeper understanding that will develop, both through its control of a number of historic goldfields in the Bendigo Zone, as well as through its underexplored structural targets in the Melbourne Zone that is now receiving an unprecedented level of attention," he added.  

In a separate statement, Paul Johnson, the chief executive of Power Metal Resources, called the receipt of the report “a key moment.”

Quick facts: Red Rock Resources PLC

Price: 0.75 GBX

AIM:RRR
Market: AIM
Market Cap: £6.16 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

Purepoint Uranium Group sees great opportunity as they look to develop in...

Purepoint Uranium Group (CVE: PTU) President and CEO Chris Frostad joined Steve Darling from Proactive to shared details about the company that is focused on the exploration of its projects in the Canadian Athabasca Basin, the world’s richest uranium region. Frostad telling Proactive about...

12 hours, 41 minutes ago

2 min read