Red Rock Resources Regulatory News (RRR)

25 Jun 2008 13:42

RED ROCK RESOURCES PLC

Update

Dated: 25 June 2008

Red Rock Resources plc ("Red Rock" or the "Company") the mineral exploration and development company focused on advancing iron ore, manganese and uranium projects in Australia and East Africa,

Corporate

Pallinghurst Resources Australia Ltd, a private investment company with which Red Rock is deemed to be acting in concert for the purposes of section 15(1) of the Corporations Act 2001 (Australia), has announced an increased holding in Jupiter Mines Limited ("Jupiter") of 15,670,591 Ordinary Shares. With the 14,904,403 Ordinary Shares held by the Company, this equates to a combined holding of 30,511,994 Ordinary Shares or 18.07% of the issued ordinary share capital of Jupiter.

Jupiter has also announced that Mr. Priyank Thapliyal, a founding partner of Pallinghurst Resources LLP, has joined the Jupiter board. Mr. Thapliyal joined Sterlite Industries in 2000, serving as deputy to the owner  Mr. Anil Agarwal. Mr. Priyank Thaliyal implemented the strategies that led to Sterlite becoming Vedanta Resources plc and listing on the London Stock Exchange.

Red Rock also announces that its 24.2% owned associated company Retail Star Limited ("RSL"), a company listed on the Australian Stock Exchange (ASX: RSL), will hold an Extraordinary General Meeting to change its name to Resource Star Limited, effect a capital consolidation, and relist as a resource sector company focused on uranium exploration and mining on 14 July 2008. If shareholders approve the resolutions the stock will be suspended until the requirements for compliance with the listing rules of the Australian Stock Exchange are met, which is expected to be by 21 August 2008. RSL will be seeking to raise between AUD1,500,000 and AUD 2,500,000 additional working capital by a partly underwritten entitlement issue and a general issue of new ordinary shares and options. Red Rock intends to maintain its percentage holding in RSL.

Exploration

In March 2008, consultant geologist Marian Skwarnecki of Coffey Mining Pty Ltd and Red Rock geologist Helen Salmon undertook a field trip to the Mt Alfred tenement in the Central Yilgarn, WA to continue the iron ore exploration programme. Objectives were to carry out traverse sampling across strike in the Mt Forrest and Mt Alfred West areas to determine the width of iron ore mineralisation indicated from the previous season's rock chip sampling programme. Also for consideration was the extent to which mineralised BIF horizons recently drilled by neighbouring tenement holders extended into the Mt Alfred tenement.

At both the Mt Forrest and Mt Alfred West locations some of the BIF units display complex folded textures suggesting the BIF has been structurally thickened. The ridges at Mt Forrest can be up to 175m in height and up to 100m at Mt Alfred West. Commonly dipping 70° E to near vertical they are fringed by colluvium with slopes dominated by lag derived from local outcrops. Ferruginous lag is also abundant on surrounding colluvial plains.

Sampling was conducted by collecting composite samples ~2 kg in weight at intervals of 20-40m (dependent on terrain) across the BIF ridges. A total of sixty seven samples were collected with thirty six being obtained from an old drillhole collared on the lower ground, approximately 100m in from the northern boundary of the tenement. All samples were sent for assay to Genalysis in Kalgoorlie. Results returned from Mt Forrest showed four samples out of nine ranging between 56%-64% Fe, across a width of approximately 50m. At Mt Alfred West three out of the eight samples showed values ranging between 60% and 67% Fe across a width of approximately 100m. By integrating previous individual sample results taken along strike it is inferred that mineralised BIF horizons at Mt Forrest could extend from the adjoining ground held by Mindax Ltd to a distance of 1.5 km. At Mt Alfred West, mineralization appears to continue along strike from Iron Mountain Mining Ltd's ground for 1 km. Additionally, both ridges disappear under cover and only further work will reveal if mineralization continues beneath the colluvium. Drilling is therefore warranted to delineate the vertical extent of the haematite mineralization.

Table 1.

Samples in bold are results over 55% Fe. 

Samples SW008-SW044 were obtained from a previously drilled hole in the Mt Alfred tenement and close to the Mt Forrest boundary. Some anomalous gold and arsenic (possibly from an alteration zone) were recorded at ~77m and the sampling terminated in an anomalous lead occurrence. Results are presented below. 

Table 2.

Selected results from a previously collared hole 

http://www.rns-pdf.londonstockexchange.com/rns/5184X_-2008-6-25.pdf

http://www.rns-pdf.londonstockexchange.com/rns/5184X_1-2008-6-25.pdf

The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Helen Salmon, BSc Hons, MPhil, GradIMMM, FGS, MMS. Helen Salmon is a principal geologist under contract to the Company and its affiliates, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Qualified Person. Helen Salmon consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

Enquiries:

Updates on the Company's activities are regularly posted on its website,www.rrrplc.com.