Red Rock Resources Plc, a natural resource development company with interests in gold and base metals, has announced the acquisition of two prospective exploration projects by the Red Rock Group in the prolific Boromo and Banfora Greenstone Belts of Burkina Faso in West Africa.
The assets are held by Faso Greenstone Resources SARLU (FGR), a wholly owned subsidiary of Faso Minerals Limited, which itself is currently wholly owned by Red Rock. FGR is targeting the next significant gold discovery in Burkina Faso and has consolidated two prospective project areas in the south-west of the country.
Red Rock Chairman Andrew Bell commented, “The acquisition of Boulon and subsequently of the rights to 80% of Bilbale represents a great step forward for our activities in the underexplored and highly prospective Burkina Faso sections of the West African Greenstones. Both licenses we believe to be of high quality, and Bilbale already looks an exceptional opportunity on every metric used in our screening, with a good prospect for discoveries. Boulon also has good targets and a lot of artisanal activity.
“Geochemistry at Boulon was too wide-spaced to pick up more than isolated anomalous readings which have not been followed up. Given the wealth of targets, we have chosen to focus on the areas of the country offering most long-term security, down in the south-west and away from the Mali and Niger borders.
“The experience of other exploration companies in the country shows that where good geology exists in these underexplored greenstones, and supporting information is available, and then good exploration is undertaken, the chances of success are relatively good. With the experienced team we are deploying, our aim is to build a serious Burkina Faso explorer with an expanding footprint, capable of autonomous growth.”
Key take outs of the report were:
- 348m² of highly prospective ground at Bilbale and Boulon acquired with artisanal activity evidencing presence of high grade gold
- RC drilling at Bilbale encountered good gold intersections
- Important N and NE trending faults and shears passing through Bilbale and N-S structures passing through Boulon
- Gold and Arsenic anomalies picked up by geochemistry
- Experienced team includes geologists involved in discovery of over 5m oz of gold in Burkina Faso
- Payment of an aggregate of 42.5m CFA (c£54,000) to the vendors has been effected
Boulon permit location showing artisanal gold working sites on airborne magnetometry (AS) map.Credit by: Red Rock Resources Plc