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Rockfire Resources - Long intervals of sulphides encountered at Plateau

RNS Number : 7729Q
Rockfire Resources PLC
23 June 2020
 

 

23 June 2020

Rockfire Resources plc

("Rockfire" or the "Company")

Long intervals of sulphides encountered at Plateau

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to announce that drilling is progressing well and that long intervals of sulphides up to 235m have been recorded in drilling. A water bore, which was drilled in preparation for planned diamond drilling, has also encountered significant sulphides at the Company's 100%-owned Plateau Gold Deposit ("Plateau"), part of the Lighthouse tenement in North Queensland, Australia.

Highlights:

·    Sulphide mineralisation is usually associated with gold at Plateau, so visible sulphides are encouraging for our anticipated gold assays. The gold at Plateau is microscopic and therefore not visible to the naked eye. Visible sulphides, even as low as 1-2% is encouraging, so levels of sulphide up to 30% is promising.

 

·    Drilling of a 170m deep vertical bore to obtain water for planned diamond drilling has been completed, with sufficient water found to supply diamond drilling to depth

 

·    Sulphides up to 90% have been recorded in the water bore and Rockfire intends to sample the water bore for gold mineralisation

 

·    235m of continuous sulphide mineralisation has been observed in drill hole BPL037, with sulphides averaging 5% and individual intervals up to 30% sulphide. BPL037 finished at 257m deep.

 

·    201m of continuous sulphide mineralisation has been observed in drill hole BPL036, with sulphides averaging 5% and individual intervals up to 30% sulphide. BPL036 was drilled to 239m deep.

 

·    The market will be informed of the anticipated timing of follow-up diamond drilling to test deeper in the gold system

 

A photograph of the sulphide mineralisation from hole BPL037 is provided at the following link. 

http://www.rns-pdf.londonstockexchange.com/rns/7729Q_1-2020-6-23.pdf

 

David Price, Chief Executive Officer of Rockfire commented:

"This current drilling programme has tested up to 100m east of previous drilling and it is encouraging to see large intervals of sulphides still being encountered within the top 200m from surface. Phase 1 drilling has also drilled three pre-collars in preparation for diamond drilling tails to test down to 500m from surface."

"In preparation for deeper drilling, the top 250m has been drilled using reverse circulation drilling, which is considerably cheaper than diamond drilling. These holes will be re-entered by the diamond drilling rig and rock cores will be collected between a depth of 250m and 500m. This style of drilling not only provides more accurate sampling, but also outstanding geological information."

"The recently drilled holes have provided a much larger target at depth, opening up the potential for more gold to be found towards the southeast. Our recent geophysical data reprocessing identified a plunge towards the southeast and drilling has now confirmed this as a viable target with strong and persistent sulphide mineralisation in this direction."

"Our geologists are encouraged by the abundance of the sulphide mineralisation and the Company is looking forward to commencing the diamond drilling phase of this campaign. The market will continue to be updated with our exploration progress."

 

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 / Faye Calow

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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