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Red Rock, Power Metals' Australian gold venture brings in veteran as exploration manager

David Holden was involved in the initial discoveries at Nimary/Jundee, Brocks Creek, Mt Todd (Australia), Ngaka Coal Field (Tanzania), and Big Sandy lithium (USA)

Red Rock Resources PLC -

Red Rock Resources PLC (LON:RRR) said its Australian gold mining joint venture, Red Rock Australasia has appointed David Holden as exploration manager.

Holden was involved in the initial discoveries at Nimary/Jundee, Brocks Creek, Mt Todd (Australia), Ngaka Coal Field (Tanzania), and Big Sandy lithium (USA), said Red Rock.

Red Rock Australasia, a 50.1%-owned Australian joint venture with Power Metal Resources (49.9%) has applied for twelve exploration licences in the Central Victoria Gold Fields.

In a statement, Andrew Bell, Red Rock’s chairman said: “Dave has been known to some of us for several years and we were fortunate to find him now living and working in Ballarat.

“He has already been helping us through the geological assessment process and his knowledge, experience and energy will prove invaluable as we move forward towards a listing."

Red Rock also noted the recent results from Jupiter Mines, where it has a stake worth A$4mln (£2.21mln) currently.

In a separate statement, Paul Johnson, chief executive officer of Power Metal commented: "Dave has been integral to the rapid progression of the Australia gold JV, and the extensive work to date collating historical project information, preparing for gold exploration and assisting across JV activities.

"We are pleased to have him move into the role of Exploration Manager for RRAL at an important time as we seek to further accelerate activities and continue to build this dynamic and exciting part of the Power Metal gold portfolio."

In morning trade on Friday, shares in Power Metals were 4.6% higher at 1.15p, while Red Rock shares held steady at 1.00p.

 -- Adds Paul Johnson comment, share prices --

Quick facts: Red Rock Resources PLC

Price: 0.85 GBX

Market: AIM
Market Cap: £6.99 m

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