Red Rock Resources (LON:RRR) (AIM:RRR) has announced new progress and results from the reverse circulation drill programme conducted by its wholly-owned subsidiary, Faso Greenstone Resources, at the Bilbale licence in the south-west of Burkina Faso.
The company completed a seven hole RC drill programme totalling 778 metres.
Samples were also collected at one metre interval depths and sent with duplicates, standards and blanks for testing at Ouagadougou laboratory of SGS Burkina SA.
At the BilR22-03 drillhole, the best results included 20 metres grading 3.19 grams per tonne gold from 22 metres depth, eight metres grading 2.28 grams per tonne gold from 62 metres depth, and two metres at 1.25 grams from 118 metres to end of hole.
At the BilR22-01 drillhole, results included nine metres at 0.37 grams per tonne from six metres depth.
Ground geophysics will now be carried out and will be followed by further drill testing in a later programme.
"After acquisition of the Bilbale licence, some geochemistry and mapping was carried out and then we moved directly to scout drilling in order to meet the licence's spending obligations, as renewal was approaching,” said Red Rock’s chairman Andrew Bell.
“No ground geophysics was carried out, and we had to be guided by the pattern of previous artisanal activity and by the limited and large scale airborne geophysics in selecting the location of our drill holes. Given these limitations, that three holes of our first four drilled encountered gold and one intersected three gold mineralised zones including a high grade zone near surface is a happy circumstance, and offers great encouragement for the next stages of drilling which will follow detailed ground geophysics.”
A further ten to twelve targets at Bilbale are not yet tested by drilling, including three or four identified through surface sampling and from some limited rock exposure as very prospective.
Highly prospective targets at the company’s other licence, Boulon, also remain untested by drilling.
“We believe we have an exceptional portfolio of opportunities within our Burkina Faso licences,” continued Bell.
“It was put together after a rigorous and comprehensive screening of all opportunities within the country, made possible by the depth of experience of our personnel, and the geological knowledge they brought to bear. These first results are better than we could have expected, and if replicated in future holes, could lead to the declaration of an economic discovery.At the corporate level, we plan to raise external capital for our subsidiary Faso Minerals Ltd to accelerate the progress of the Burkina Faso assets towards a planned independent listing.”