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Rockfire Resources - Silver up to two ounces/tonne returned at Plateau

RNS Number : 5683B
Rockfire Resources PLC
31 January 2020
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

31 January 2020

Rockfire Resources plc

("Rockfire" or the "Company")

Silver up to two ounces/tonne returned at Plateau

Rockfire Resources plc (LON: ROCK) is pleased to announce that silver (Ag) grades determined by portable X-Ray Flourescence (XRF) analysis of the October 2019 drill samples has identified significant silver at our 100%-owned Plateau gold deposit in North Queensland, Australia.

·    All drill holes returned significant silver assays; 

·    The silver credits add potential to the future economics of Plateau; 

·    187 m @ 6.3 g/t Ag (from 15 m), including 11 m @ 32.6 g/t Ag (hole BPL025) 

·    10 m @ 18.2 g/t Ag (from 56 m), including 4 m @ 35.4 g/t Ag (hole BPL012) 

·    36 m @ 5.5 g/t Ag (from 1 m), including 3 m @ 18.8 g/t Ag (hole BPL013) 

·    18 m @ 9.5 g/t Ag from 10 m (hole BPL014) 

·    14 m @ 5.8 g/t Ag from 8 m (hole BPL015) 

·    23 m @ 7.1 g/t Ag (from 9 m), including 10 m @ 9.2 g/t Ag (hole BPL016) 

·    17 m @ 7.2 g/t Ag from 1 m (hole BPL017) 

·    22 m @ 9.8 g/t Ag (from 0 m), including 8 m @ 18.0 g/t Ag (hole BPL018) 

·    8 m @ 36.0 g/t Ag (from 66 m), including 4 m @ 63.3 g/t Ag (hole BPL019) 

·    31 m @ 9.7 g/t Ag (from 29 m), including 10 m @ 19.7 g/t Ag (hole BPL020) 

·    17 m @ 6.0 g/t Ag from 8 m (hole BPL021) 

·    29 m @ 3.8 g/t Ag (from 0 m), including 6 m @ 7.5 g/t Ag (hole BPL022) 

·    35 m @ 4.8 g/t Ag (from 1 m), including 12 m @ 7.8 g/t Ag (hole BPL023) 

·    15 m @ 6.7 g/t Ag from 14 m (hole BPL024) 

 

David Price, Chief Executive Officer of Rockfire, commented:

"These silver grades are very pleasing and may add to the future economics of the project."

 

"The use of the portable XRF machine acts as a guide to mineralisation and analysis using proven laboratory techniques such as Inductively Coupled Plasma (ICP) is required to determine a definitive silver assay. Rockfire intends to submit these highly anomalous samples to the lab for definitive analysis. In addition to the silver, elevated and anomalous zinc and lead are also present and the Company intends to submit these samples for further analysis also."

 

"We are eagerly awaiting the results of our recent drilling campaign at Plateau and the Company is pleased to inform the market that samples have now been delivered to the laboratory in Townsville. Further announcements will be made as results become available."

 

 

XRF parameters

 

The XRF analyses were completed on samples which were professionally prepared by Australian Laboratory Services Ltd. The preparation includes crushing and pulverising the entire sample to produce a homogeneous sample. The XRF analyses were completed by Terra Search Pty Ltd, an independent service provider. The XRF model used was a Niton XL5 and each sample was analysed for a nominal 60 seconds. The calibration mode used was the Niton standard mining mode.

 

 

Qualified Person Statement:

 

Information in this announcement that relates to exploration results is based on information compiled by Mr Edward Fry, the Exploration Manager of Rockfire Resources plc, who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Fry has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and a "Qualified Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Fry consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

 

 

For further information on the Company, please visit www.rockfireresources.com or contact the following:

 

Rockfire Resources plc

David Price, Chief Executive Officer

 

[email protected]

 

 

 

Allenby Capital Limited (Nominated Adviser)

Tel:+44 (0) 20 3328 5656

John Depasquale / Asha Chotai

 

 

 

SI Capital Ltd

Tel:  +44 (0)14 8341 3500

Nick Emerson

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Rockfire Resources PLC

Price: 0.86

Market: LSE
Market Cap: £5.44 m
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