Red Rock Resources plc has established a 75% owned lithium subsidiary and acquired lithium assets in southeast Zimbabwe.
BIKITA
The company owns African Lithium Resources Pvt Ltd (ALR) with a local partner.
ALR has acquired a 51ha lithium claim, named Houghton C, 29km northwest of Bikita at Tin Hill and is in the process of transferring title.
ALR has also applied for 107ha near Bikita and identified for purchase another property with high grades from sampling.
The nearby Bikita mine, the largest lithium mine in Zimbabwe, has been operating for more than 60 years and hosts one of the world’s largest petalite deposits.
ARCTURUS
Red Rock said it had received approval for a new 125ha application near Arcturus, a mining site 32km east of Harare in Zimbabwe. A further application nearby is in process.
The company paid $25,000 with a further $10,000 retained by ALR until completion of transfer.
RESOURCE
ALR has identified spodumene and petalite lithium mineralisation in 10m thick exposures averaging 1.43% Li2O (Geological Survey of Rhodesia 1975).
Red Rock added that ALR took seven samples in one area of the licence with best grade at 2.07% Li2O.
INVESTORS
Chairman Andrew Bell said that Zimbabwe had long been the biggest lithium producer in Africa, and one of the largest in the world.
“Its pegmatites have a mineral endowment that has considerable expansion potential, and international investors have shown themselves willing to invest in lithium exploration and development in this traditional mining country that has been in disfavour for decades.”