Red Rock Resources RRR Update

  Red Rock Resources (RRR) - Update

RNS Number : 1148R
Red Rock Resources plc
14 November 2012


                              Red Rock Resources

                                    Update

14^th November 2012

Red Rock  Resources  plc  ("Red  Rock"  or  the  "Company"),  the  mining  and 
exploration company with an  iron ore project in  Greenland, a producing  gold 
mine in Colombia, advanced gold and copper exploration in Kenya, and interests
in steel feed, uranium and rare earths, announces an update on its projects.



Kenya



The Mineral Resource Estimate for the MK area of the Mikei Project near Migori
is expected  to be  released in  Q4 2012.  This will  complete the  series  of 
recalculated Mineral Resource Estimates  following the Company's programme  of 
redrilling and other geological work.



The Environmental Impact  Assessment for  the Macalder  Tailings Mining  Lease 
application is in its final stages.



Work continues on cross and long sections and interpretation of the geological
information on the Mikei projects, which is expected to lead to proposals  for 
follow up drilling, including exploration of possible extensions of high grade
zones at Nyanza.  A proposal  will also be  submitted for  exploration of  the 
three most  promising  targets  for regional  exploration  identified  by  the 
aircore drilling.



The main focus of geological work over  the next six months is expected to  be 
assessment and  interpretation of  the large  amount of  data accumulated  and 
response to the recommendations and suggestions  made by CSA. No major  drill 
programme is anticipated.



In the period leading up to the Elections in Kenya in March 2013 there will be
heightened sensitivity  on political  matters, and  the Company  has  retained 
advisers to help  it deal  with local, national,  and policy  issues that  may 
arise. Red  Rock  welcomes the  decision  by  the Government  that  35%  local 
participation is to become a condition of existing and new licenses, and  will 
work constructively with  the Government  to bring  in good  partners who  can 
strengthen the project. The Company believes that the creation of a mining  or 
similar board on the Nairobi Stock Exchange would facilitate this process  for 
the industry by making local listings possible, and is encouraged to see  this 
being discussed.



The Company  continues to  pursue additional  license applications  in  Kenya, 
including  in  areas   in  the   Rift  Valley  prospective   for  rare   earth 
mineralisation, one of which has been granted.



Ariel Partners LLP continues to work with Red Rock on a rationalisation of its
interests and  those of  others in  Mid Migori  Mining Ltd  and Kansai  Mining 
Corporation. Progress in this regard is being made and Ariel expects to put an
indicative proposal before Red Rock within the next few days.



Colombia



The sale  process continues.  Although  progress has  been slow,  the  Company 
continues to work with the prospective purchaser and has no reason to  believe 
that the sale will  not proceed. In  the meantime the  El Limon mine  operated 
profitably in the latest quarter to  September 2012 and continues to  produce, 
with the shaft  now taken down  53m from Level  7 to Level  8, and  horizontal 
development of the  new level  now beginning.  Production from  Level 8  could 
begin within weeks but is expected  by end-December. The emphasis has been  on 
achieving stability and  streamlining operations rather  than expansion  since 
the sale process began, and different decisions are therefore being made  from 
those that might have been taken  otherwise. The Company does not consider  it 
would be useful, therefore, or assist the sale process, to release  production 
figures and updates while the sale process proceeds.

Greenland

A JORC or equivalent Mineral Resource Estimate is being worked on, and the aim
is to have it completed within December.

With the expected accomplishment  of this important  target, the Company  does 
not currently expect  that any geological  work in 2013  will include  further 
drilling. 

Red Rock continues  to explore  partnership opportunities in  relation to  its 
interests in Greenland, and  has received indications  of interest. A  further 
announcement will be made when appropriate.



Enquiries:



Andrew Bell     020 7099 5840 or Red Rock Resources plc Chairman

                07766 474849

                
Sandra Spencer  020 7099 5840 or Red Rock Resources plc Press Relations

                07757 660 798

                
Gerry Beaney/   020 7383 5100    Grant Thornton         Nominated Adviser

Daniela Amihood                  Corporate Finance

                                 
Nick Emerson    01483 413500     Simple Investments Ltd Broker





                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCLLFIFLRLSLIF -0- Nov/14/2012 12:09 GMT
 
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