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Share Name | Share Symbol | Market | Type |
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TSXV:RRK | TSX Venture | Common Stock |
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Red Rock Energy Inc. (TSX VENTURE:RRK) announced today that it has completed plans to effect the mobilization of a crew and equipment to commence the summer work program at its Uranium City exploration properties. The commencement of exploration on these properties is the product of extensive integration and analysis of historic data obtained during the summer, fall and winter programs undertaken by Red Rock in 2009 and from archival resources of former operators within the Uranium City Camp. These activities have identified multiple areas of interest that require detailed field follow up and mapping in preparation for a new drill program. Preliminary review indicates continued strong geological potential to produce additional resources to augment the 1.34 million lbs of U3O8 inferred mineral resource (utilizing a cut off grade of .05%) discovered on Red Rock ground and outlined in two previously disclosed NI 43-101 reports. Additional information and the full technical reports for these discoveries are available on Red Rock Energy's web site and detailed in the news release of Aug 31 2009. Red Rock's field personnel will operate out of facilities in Uranium City which will allow for implementation of a cost effective exploration program. Exploration activities shall be focused on testing selected zones of interest on the properties, including those additional properties added to the portfolio of lands controlled by Red Rock by virtue of the transaction completed with Uranium City Resources Inc. These properties have been identified from geological compilation work of historical operators and Red Rock's own drilling as well as air and ground geological and geophysical programs. READER ADVISORY Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information. The reader is further cautioned that the preparation of financial statements in accordance with generally accepted accounting principles requires management to make certain judgements and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. Estimating reserves is also critical to several accounting estimates and requires judgments and decisions based upon available geological, geophysical, engineering and economic data. These estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes.
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