Red Rock Resources Sees Initial Results From VTEM Program End-August

29th Jul 2010 14:35

LONDON (Dow Jones)--Red Rock Resources PLC (RRR.LN), a gold mining and exploration company with projects in Kenya and Colombia, said Thursday it expects initial results from the helicopter geophysical VTEM program by end-August. MAIN FACTS: -A fixed wing magnetic/radiometric survey has been contracted over the whole license area with UTS-Aeroquest and is expected to start on Aug. 16. -Metallurgical results are awaited from Amdel Laboratories on the Macalder tailings, and gold sample results from trenching at Mirema are awaited from SGS Laboratories in Mwanza. -Trenching has continued at the Kowere prospect. -Red Rock expects to finalise a drill program of 5,000 meters to 10,000 meters during September. -The company continues to work closely with its local partner at the El Limon mine site and in Medellin on implementing the investment program to increase production at El Limón and bring Machuca into first production. -Exploration continues, investigating at surface areas to the north and east of the known mineralization. -Progress continues with the fast-tracking of exploration of the Mt Ida Magnetite Project, the near-surface resource potential of which may be 1.1 billion tons to 1.3 billion tons. -Shares at 1330 GMT up 0.02 pence, or 1.11%, at GBP2.27 pence, valuing the company at GBP13.63 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] (END) Dow Jones Newswires July 29, 2010 09:35 ET (13:35 GMT)