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RED EMPEROR RESOURCES NL - ASX: RMP
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Description
Red Emperor Resources NL is an ASX listed (ASX: RMP) natural resource exploration company with oil & gas interests in the frontier state of Puntland, Somalia and the Republic of Georgia.
• In Puntland, Red Emperor holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys with plans to drill two wells, Africa Oil Corp (TSXV:AOI) – 45% Operator, in 2011. These two exploration areas have independently been assessed to potentially contain over 18b barrels of oil.
• In the Republic of Georgia, Red Emperor holds a 20% farm?in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. Red Emperor’s JV partner, Range Resources Limited (ASX: RRS; AIM: RRL) has recently completed a 410km 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing and estimated 2.045b barrels of oil in place.
• The Company also has a 25% interest in the Jillewarra Project free carried until bankable feasibility study, which is a copper and gold project in Western Australia.
The Red Emperor portfolio consists of the right to earn a 51% interest in the Jillewarra Project, Western Australia. The Jillewarra Project covers an aggregate area of 322.56km2 with two Exploration Licences ('ELs') and a Prospecting Licence Application ('PLA'). The tenements cover part of the Mingah Range Greenstone Belt and are located between 50-75km WNW of Meekatharra, within the Meekatharra Mineral Field in the Murchison Province of Western Australia. High-grade gold mineralisation has been identified by previous mining and exploration activities along the south-western limb of the structure.Field in the Murchison Province of Western Australia. High-grade gold mineralisation has been identified by previous mining and exploration activities along the south-western limb of the structure.
The Jillewarra Project covers the southern half of the NW trending Archaean Mingah Range Greenstone Belt that extends for a strike distance of approximately 50km and averages some 9.5km in width. The Mingah Range Greenstone Belt is unusual in that it trends EW-WNW while most other belts in the Murchison Province have a NE-NS orientation. In the northern part of Mingah Range succession the stratigraphy passes from quartzites to fine-grained felsic, epiclastic sedimentary lithologies, ultramafic komatiite units and high Mg basalts that have been intruded by broad differentiated gabbroic sills. These layered sills form prominent ridges and have an outcrop width of 0.1-0.3km. Towards the southern part of the Mingah Range succession a sequence of sediment-hosted, banded iron formations have been partially stoped out by granitic intrusions.
<>Known mineralisation within the area comprises a number of small high-grade epigenetic gold deposits, Pb-Ba vein deposits and layered ultramafic and mafic sills containing anomalous Ni and Cu values. Several significant structural features, historic Gold Mines, Ni-Cu bearing ultramafic units, and more recently identified targets in the Zapata region and the Jillewarra Shear Zone occur within the project area.Recent exploration by Cazaly Resources Limited highlighted the prospective ultramafic-basalt horizon between Rafters Run and Hewitt's Find. The prospective contact zone strikes for over 6km within the project area but has only received limited drill testing. Exploration in the Rafters Run area previously focused on nickel mineralisation but underplayed copper or gold potential. The IP anomalies require further investigation and the gold mineralisation at Hewitt's Find also warrants additional drilling.
Mine For
gold, copper
Location of operation(s)
Western Australia
Address
Suite 32, Level 3, 22 Railway Rd
SUBIACO, WA, AUSTRALIA
Phone
(08) 9388 8041
Website
Last Updated
10/02/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
