Red Rock Resources Plc announced an update in relation to the exploration programme being carried out by joint-venture subsidiary New Ballarat Gold Corporation plc ("NBGC") within the Victorian Goldfields of Australia. Exploration is being carried out by Red Rock Australasia Pty Ltd. ("RRAL"), the 100% owned Australian operating subsidiary of NBGC. Laboratory results from the first hole drilled (MB22D001) at the Mt Bute prospect, one of two targets addressed in recent drilling, have now been received and are considered significant.

Preliminary X-ray fluorescence (XRF) analysis of selected Mt. Bute core intervals had returned highly anomalous molybdenum (Mo) and bismuth (Bi) results, suggesting the possibility of intrusive related gold ("IRG) mineralization within the Victorian goldfields. A total of three holes were drilled at the Mt.

Bute Prospect and the results from the second and third holes are still awaited. The drilling was intended to resolve complexities in the structural geometry and the first hole, reported on here, has intercepted several zones of IRG-type gold mineralisation. Located in close proximity to the Mt.

Bute Granite (large I-type granitoid) the geology within the area is dominated by steeply dipping, folded metasediments within a hornfels alteration aureole. Results of the drilling and the discovery of IRG mineralization now suggest that the target is geologically more complex than previous interpretations - which originally suggested that the small historically mined gold reefs were solely orogenic in origin. Whilst minor historical workings exist on the Property, limited previous modern-day exploration has been undertaken.

In the late 1990's, a 14-hole shallow Reverse Circulation (RC) drill programme was carried out by a previous operator which concluded that gold hosted quartz vein reefs were present and possibly continuous, but insufficient in size to support production via an open pit mining operation. In contrast, RRAL is now exploring with a view to exploit any narrow vein high-grade reefs via underground - as well are investigating the significant development of overprinting IRG-type gold mineralisation. The reef structures within the area have generally been poorly understood, including any possible relationship to the nearby Mt.

Bute granite. In addition, complexity within the regional fault structures as well as the presence of Cambrian age sediments, which are of similar age and lithology to the nearby Stawell Gold mine, precluded meaningful geological understanding of the area.To help resolve this, RRAL completed ashort 3-hole diamond drilling programme within an area of limited outcrop. RRAL is now encouraged by the likelihood that the Mt.

Bute granite may have had a greater influence on gold mineralisation than previously thought and intersecting elevated gold across broad intervals as well as in several mineralised lode structures within the first drill hole was a result above expectation.