Red Rock Resources Regulatory News (RRR)

3 Aug 2006 07:00

Red Rock Resources plc03 August 2006 RED ROCK RESOURCES PLC Exploration Update Dated: 3 August 2006 Red Rock Resources plc ("Red Rock" or the "Company") the mineral exploration anddevelopment company focused on advancing iron ore, uranium and manganeseprojects in Australia and East Africa, reports that a announcement was issuedtoday to the Australian Stock Exchange by Jupiter Mines Limited ("Jupiter")(www.jupitermines.com) in relation to the Company's Mt Ida tenement that isunder an option and royalty agreement with Jupiter. The text of thatannouncement is reproduced below, and a full version with maps and photographscan be found at the Australian Stock Exchange website (www.asx.com.au) byentering the stock code 'JMS'. "SIGNIFICANT NEW IRON DISCOVERY AT CENTRAL YILGARN • The new high grade (+66%Fe) iron discovery confirms the Central Yilgarn Iron Project contains multiple high grade haematite zones. • The Central Yilgarn new discovery of massive blue haematite grades 66.25% iron at surface and all impurities are low tenor. • This new zone is located 1.5km north of Mt Ida and 11km south of Mt Mason confirming Jupiter's iron ore potential. • Jupiter has also confirmed through mapping and surface sampling an additional eastern +10km continuous high grade haematite zone between Mt Mason and Mt Ida grading on average over 60% Fe. • Production from the Central Yilgarn Iron Project is planned to be crushed on site, trucked to Menzies (90km) and then railed to the Port of Esperance. Summary Jupiter's recent mapping has discovered an additional Mt Mason style high grade,blue - grey haematite zone located approximately 1500 metres north of the Mt Idatrig. Surface sampling of rock chips assayed 66.25% Fe, 2.1% SiO2, 0.4% Al2O3,0.4% P, 0.4% S, and a LOI of 2.6%. This massive blue haematite discovery is very significant as it adds to theviability of the Mt Mason iron occurrence and will add high grade tonnage to theproject. The mapping also identified an additional haematite lens some 500m east of MtMason that is continuous over all 13km to Mt Ida. All samples averaged a rangeof 54.3% Fe to 63.6% Fe, however the overall iron assay was 60.2% Fe. In physical appearance this eastern unit appears to be a shaly, haematiteenriched banded iron unit that occurs as low relief, rounded hillocks oflateritic rubble with a spine 5 -15 metres wide of outcropping or subcroppingshaly haematite. The assays carried out on this unit show that almost no shale is present and dueto its continuous nature it should add more tonnes to the overall prospectivefuture iron ore resource/reserve. The next phase of exploration at Mt Mason/Mt Ida will be to thoroughly sampleand delineate: 1. The new discovery of blue -grey haematite; 2. The eastern +10km haematite unit and, 3. Commence resource delineation. 4. Continue scoping work. The eastern haematite unit needs to be drill tested over its strike length asthe first stage in accurately delineating the depth and width of haematite inthe unit and to better understand the potential size and grade of the ironoccurrence here. Given the high grade of the blue-grey haematite patch this willalso need drill testing to check its size potential. Work Program Two areas have been mapped that require further work. The newly discovered, highgrade haematite patch north of Mt Ida needs careful mapping and some drilling todiscover potential mineralisation at depth and under cover. The eastern unit ofhaematite that stretches the length of the leases needs to be tested first withcontinuous chip sampling across the unit at 100 to 200 metre spacing with thesample locations flagged and controlled with GPS coordinates. After these sample results are evaluated a program of wide spaced (given thestrike length involved) drilling needs to be carried out to at least 20 metresdepth then followed up with closer spaced drilling as required. Conclusion The new high grade haematite discovery at Mt Ida has the potential to addsignificantly to the high grade Mt Mason haematite occurrence and should givethe Central Yilgarn Iron Project viability. In addition the new eastern zone will provide large tonnage and Jupiter istargeting plus 20 million tonnes. Additionally, iron ore can also be obtained from the well developed Kanga zone. Competent Person The information in this announcement that relates to Exploration Results isbased on information compiled by Mr Jeremy Snaith who is a member of theAustralasian Institute of Mining and Metallurgy. Jeremy Snaith has sufficientexperience which is relevant to the style of mineralisation and type of depositunder consideration and to the activity that he is undertaking to qualify as aCompetent Person as defined in the 2004 Edition of the 'Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves'. JeremySnaith consents to the inclusion in the announcement of the matters based on hisinformation in the form and context in which it appears." Enquiries: Andrew Bell 07766 474849 Red Rock Resources plc Chairman John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Ron Marshman / John 020 7628 5518 City of London PR Limited Public RelationsGreenhalgh This information is provided by RNS The company news service from the London Stock Exchange