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Rockfire Resources - Drilling recommences at the Plateau Gold Deposit

RNS Number : 7099P
Rockfire Resources PLC
11 June 2020
 

 

11 June 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 exploration company, is pleased to announce that an initial phase of Reverse Circulation ("RC") drilling has commenced at the Company's 100% owned Plateau Gold Deposit ("Plateau"), part of the Lighthouse tenement in North Queensland, Australia.

Highlights:

·    6 x RC drill holes, for approximately 1,000 m of drilling

 

·    This first phase of RC drilling aims to define additional gold close to surface at an area called the "Central Breccia" and especially within the top 100 m

 

·    A second aim of this phase of drilling will test mineralisation down to 200 m in areas where drilling is sparse, to increase confidence in gold grade to these depths

 

·    Demand for drilling rigs in Queensland is high and the Company is delighted to have successfully secured a drill rig whilst the region is experiencing these levels of high demand

 

·    The market will be informed of the progress during this initial drilling phase and the anticipated timing of follow-up drilling to test deeper in the gold system

 

David Price, Chief Executive Officer of Rockfire commented:

"It is pleasing and exciting for drilling to be underway again at Plateau. Our gold model for Plateau is based on the Mt Wright Gold Mine, approximately 50 km to the northeast of Plateau. At this mine, approximately 1.5 Mozs of gold has been mined down to 1,200 m from surface. This initial drilling phase is expected to result in a greater understanding of the near-surface gold, which in turn is expected to lead to more accurate targeting for planned deeper drilling.

The situation with COVID-19 in Australia means that the Company will maintain strict social distancing protocols on site during the drilling campaign. This is demonstrated by the drilling contractors and Rockfire personnel establishing separate camps and introducing updated Health and Safety procedures in accordance with Queensland Government current pandemic regulations."

 

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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Quick facts: Rockfire Resources PLC

Price: 1.625

Market: LSE
Market Cap: £13.27 m
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