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Rockfire Resources - Drilling recommences at the Plateau Gold Deposit

RNS Number : 2413A
Rockfire Resources PLC
20 January 2020
 

20 January 2020

Rockfire Resources plc

("Rockfire" or the "Company")

Drilling recommences at the Plateau Gold Deposit

Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer, is pleased to announce that drilling has commenced to expand gold mineralisation encountered in hole BPL025, at the Company's 100%-owned Plateau Gold Deposit in Queensland, Australia. As announced on 26 November 2019, hole BPL025 intersected 177 m @ 0.5 g/t Au. This drilling program will also aim to extend the near-surface gold resources at Plateau in north Queensland, Australia.

·    Reverse Circulation (RC) drilling now in progress, with a planned program of 1,500 m of drilling in 13 proposed drill holes

·    The drill program has two objectives:

Exploration at depths of around 250 m below surface

Extension and infilling of near-surface resources (< 80 m deep)

 

·    Geophysical anomaly to be tested by drilling two holes, 50 m and 150 m respectively, east of hole BPL025 

·    The drill program is expected to take approximately 15 days to complete, with gold analyses to follow the completion of drilling 

·    Geological mapping and rock chip sampling is also underway at Plateau 

·    Multi-element X-ray Florescence (XRF) analysis of drill chips from samples collected in October 2019 is nearing completion

 

David Price, Chief Executive Officer of Rockfire, commented:

"This current drill program is a very exciting one, as we are testing at depth to the east of hole BPL025, which was a very successful hole. Success with this follow-up drilling will demonstrate significant extension of this deep gold mineralisation in an east-west orientation."

 

"A second aim of the current program is to expand and build greater confidence in the gold mineralisation at our near-surface JORC resource, in an effort to define an open cut resource, 80m from surface."

 

"We are fortunate to get underway with drilling at this time of the year, as the usual wet season in northern Australia has not yet arrived and we intend to make the most of this window of good weather. Geological mapping, rock sampling and XRF analysis of drill samples from October 2019 drilling is in progress and the Company expects results from this analysis within the next few weeks. We will keep the market informed of our progress."

 

Further announcements will be made in due course.

 

 

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: 1.125

Market: LSE
Market Cap: £7.08 m
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Morning Report: Further high grade gold reported at Rockfire's Plateau deposit

Headlines from the Proactive UK newsroom. Rockfire Resources (LON:ROCK) has hit more high grade gold in the final two drill holes testing beneath the gold resource at the Plateau deposit in Queensland. The result means all drill holes in the October program hit potentially economic gold...

on 18/12/19