Red Rock Resources PLC (AIM:RRR, FRA:R2TA) said its Australian joint venture with Power Metal Resources PLC (AIM:POW, FRA:2M5), RRAL, has unearthed workings and well-developed adits and shafts at O’Laughlins in Victoria’s goldfields.
RRAL has started a re-entry programme at mines south of Ballarat to confirm the lode continuity and grade with drilling scheduled for Q4
O’Laughlins, in licence EL 007271, has not been explored since the 1860s, Red Rock added, while other shafts and underground excavations in the immediate area will be included in the re-entry programme.
Geological observation at the adit entrances indicates a broad zone of stockwork style veining in a fault structure marked by a laminated quartz vein exposed on the eastern wall, said the statement.
Dave Holden, RRAL exploration director said:: “As the area is predominantly within an old pine plantation there is little to no exposure of rocks beneath the thick covering of pine litter, so to discover well-developed adits with shafts is an exciting development and adds weight to the proposition that this area was more heavily mined over 100 years ago than previously thought.
Red Rock Australia is owned 50.1% by Red Rock and 49.9% by Power Metals.