Red Rock Australasia Pty Ltd (RRAL) announced that a further seven of its licence applications have been accepted and given the highest ranking in the Victoria gold fields of Australia.
BACKLOG
The company is a joint venture between Red Rock Resources plc (49%) and Power Metal Resources plc (50.1%).
The partnership is targeting the historic mining centre of Ballarat in the gold fields of Victoria and preparing equipment and a team close to the site.
The applications include EL007282, EL007294, EL007301, EL007327, EL007328, EL007329, and EL007385.
“We continue to monitor closely the process of grant and are pleased to see steady progress as the authorities tackle the backlog of work that has built up,” said Red Rock chairman Andrew Bell.
“This second batch comprises the largest part of our applications.”
DATA BANK
RRAL has lodged applications for a total of 16 new gold exploration licence areas covering approximately 2,336 km2.
Power Metal chief executive Paul Johnson added that RRAL was making great progress.
“The greatest return on exploration spend is through effective preparation and RRAL has built a considerable data bank allowing increasingly refined exploration planning with a focus on utilising local team members to undertake exploration programmes.”