Red Rock Resources plc has been granted a second gold licence, for an initial four years, in Côte d’Ivoire.
YAMOUSSOUKRO
Covering 380.94km2 in the departments of Yamoussoukro and others, the licence is one of · the company’s four applications totalling 1,404.86km2 south of the capital Yamoussoukro.
The project lies 245km north of Abidjan, 10km northwest of Yamoussoukro and parallel to the Bandama River’s Kossou Lake.
The licence is also 12km northeast of the Yaouré gold mine and on the same northeast trending shear zone.
Two gold occurrences and one alluvial gold occurrence are located on the concession.
Along with Djekanou, Red Rock’s granted licences now total 725.44km2, with three outstanding applications in the north of the country covering 1,122.88km2.
Each application lies on a known regional shear zone where gold mines are operating and each has “significant” artisanal mining within and around it.
FUNDING
Chairman Andrew Bell said that all the licences had “good gold potential”.
“We have already received an expression of interest from a company wishing to discuss co-operation or a transaction, and expect further interest.
“The Government expects expenditure averaging some $280,000 p.a. over a four-year period.
“We have already incurred some $65,000 of costs, and expect to carry out a modest first year programme focused on examining opportunities for an early move into production.
“Should opportunities arise for accelerating development or increasing the scale of operations, a variety of funding options are under consideration.”