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Rockfire Resources - 3D geophysics at Plateau supports gold potential

RNS Number : 3931P
Rockfire Resources PLC
09 June 2020
 

09 June 2020

Rockfire Resources plc

("Rockfire" or the "Company")

3D geophysics at Plateau supports deep gold potential

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to provide the results of modern, three dimensional ("3D") reprocessing of aeromagnetic data flown in 2011 by Ramelius Resources at the Company's 100%-owned Plateau Gold Deposit ("Plateau"), part of the Lighthouse tenement in North Queensland, Australia. The reprocessing of this data is helping to clarify drill targets at depth.

Highlights:

·    3D magnetic imagery confirms a gold target down to and beyond a depth of 600 m

 

·    The reprocessing confirms a steep easterly plunge of the low-magnetic mineralised rhyolite host

 

·    A rolling, north-south change in dip direction has been revealed

 

·    A potentially mineralised "off-shoot pipe" has been identified at depth in the southwestern corner of the rhyolite

 

·    A Rockfire field crew is on site preparing for the start of drilling. The objective of this first phase of the drill programme is to in-fill gaps in the drilling data within the top 200 m, moving to phase two to test for gold mineralisation down to a depth of 500 m below surface

 

A 3D image showing the north-south change in dip direction of the low-magnetic rhyolite is provided via the following link. This image also shows the steep easterly plunge, defined by the mineralised rhyolite and Rockfire's drilled gold intersections so far.

 

http://www.rns-pdf.londonstockexchange.com/rns/3931P_1-2020-6-9.pdf

 

David Price, Chief Executive Officer of Rockfire commented:

"The imagery produced by the reprocessing of the aeromagnetic data is exceptional. It beautifully demonstrates the low-magnetic rhyolite "plug" and defines our target for more gold mineralisation, particularly on the southern margin of the rhyolite.

The new imagery shows a rolling contact with the adjacent andesite and a steep easterly plunge. Previously, an east plunge was inferred, however, this is the first unequivocal evidence to support that inference. Additionally, the identification of the rolling contact on the southern margin is crucial for deeper targeting of gold mineralisation, which tends to occur in close proximity to the southern margin of the rhyolite.

Our field crew is now on site at Plateau and preparing for the start of drilling. The objective of this drill programme is to in-fill gaps in the drilling data within the top 200 m and to test for gold mineralisation down to a depth of 500 m below surface. The market will be informed once drilling commences."

 

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 under the AIM Rules - 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:

[email protected]

David Price, Chief Executive Officer

 

 

 

Allenby Capital Limited (Nominated Adviser & Broker)

Tel: +44 (0) 20 3328 5656

John Depasquale / Asha Chotai

 

 

 

Yellow Jersey

[email protected]

Sarah Hollins / Henry Wilkinson / Emma Becirovic

Tel: +44 (0) 20 3004 9512

 


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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Price: 1.625

Market: LSE
Market Cap: £13.27 m
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