Red Rock Australasia Pty Ltd has been granted two further gold exploration licences near the historic mining centre of Ballarat in the Victoria gold fields of Australia.
OLD MINES
The joint venture comprises Red Rock Resources plc holding a 50.1% interest and Power Metal Resources with 49.9%.
Power Metal chief executive Paul Johnson and chairman Andrew Bell, who is also chairman of Red Rock, are directors of RRAL.
The two new gold exploration licences EL007329 (Evergreen) covering 484 km2 and EL007301 (Mt Bute), covering 85 km2 give RRAL a total of seven licences with nine outstanding.
The granted licences cover 848 km2 and include numerous old mines and workings and identified geological targets.
RRAL’s outstanding licence applications cover approximately 1,488 km².
The joint venture has also applied for exploration licences in Western Australia.