Jupiter Mt Ida Update

RNS Number : 8808D

Red Rock Resources plc

10 December 2009

 



RED ROCK RESOURCES PLC

Jupiter Mines - Conceptual Exploration Target of 1.1 - 1.3 Billion Tonnes For Magnetite At Mt Ida 

Dated: 10 December 2009

Red Rock Resources plc ("Red Rock" or the "Company") the mining exploration and development company focussed on advancing gold, iron ore, manganese and uranium projects in Australia and East Africa, announces that its 25.2 per cent owned associate company Jupiter Mines Ltd (ASX: JMS)("Jupiter") today announced a conceptual exploration target of 1.1 - 1.3 billion tonnes for magnetite at Mt Ida. Key points from the announcement were:

• Magnetite potential at the Mt Ida prospect, part of Jupiter's Central Yilgarn Iron Project, estimated to range between 1.1 to 1.3 billion tonnes with an expected grade of between 30 per cent to 40 per cent Fe

• Exploration Target calculated by independent Geological Consultants, BM Geological Services, using 3D modelling

• The main Mt Ida Banded Iron Formation (BIF) has been extended by mapping to 7.5km x 1.5km

• Exploration Target does not include magnetite potential at the Mt Mason prospect

The Conceptual Exploration Target Area may be viewed at the following link:

http://www.rns-pdf.londonstockexchange.com/rns/8808D_-2009-12-9.pdf

The Jupiter announcement emphasised that the potential quantity and grade of the Mt Ida Project is conceptual in nature and there has been insufficient drilling to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Under the terms of its 2006 agreement with Jupiter, Red Rock is entitled to a 1.5 per cent gross production royalty on all ore production from Mt Ida.

Further details of these sampling results are contained in the Jupiter announcement which can be accessed at: http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=JMS

Enquiries:

Red Rock Resources plc
Andrew Bell, Chairman	0207 402 4580/07766 474849
John Watkins	07768 512404
Nominated Adviser
Blomfield Corporate Finance Ltd
Peter Trevelyan-Clark/Ben Jeynes	020 7444 0800
Broker
Simple Investments Ltd
Nick Emerson, Renato Rufus	01483 413500
Public Relations
Lothbury Financial Limited
Ron Marshman	020 7011 9411

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

 

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