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Geophysics highlights large anomalies at Plateau

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RNS Number : 9122P
Rockfire Resources PLC
15 October 2019
 

15 October 2019

Rockfire Resources plc

("Rockfire" or the "Company")

Geophysics highlights large anomalies at Plateau

Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer, announces that it has recently completed reprocessing of historical geophysical data from its 100%-owned Plateau Gold Deposit in Queensland, Australia. This historical geophysical data has been reprocessed using modern computing methods which were not used when the data was originally collected in 1985. The reprocessing has highlighted a number of large chargeable responses which will be tested during the current drilling program.

·     Multiple, high chargeability zones occur over a distance of over 500m;

 

·     The strongest chargeable response starts at around 70m below surface and extends to depth;

 

·     Chargeability zones remain open along strike and at depth;

 

·     Current Plateau gold resource is 1,147,000 tonnes @ 1.1 g/t Au for 40,000 ounces of gold;

 

·     A single drill hole is planned as part of the current drilling program to drill into the centre of one of the chargeable responses to test for gold mineralisation down to 200m.

 

An image showing geophysical slices looking west can be viewed here. 
http://www.rns-pdf.londonstockexchange.com/rns/9122P_1-2019-10-15.pdf

 

David Price, Chief Executive Officer of Rockfire, commented:

"An Induced Polarisation (IP) survey was conducted in 1985, and using modern processing techniques, Rockfire has identified multiple, strong chargeable responses in excess of 35 mv/V. One of these geophysical targets lies adjacent to a drill hole drilled by Rockfire in 2017 which intersected 22m @ 1.90g/t Au. Our current drilling program will include one hole which will drill down into the centre of this IP target to test for gold mineralisation down to 200m below surface."

 

"As we focus on Plateau, we're observing more evidence for a potentially large-scale gold deposit. Plateau has similarities to the currently operational Mt Wright gold mine (+1 Moz) which occurs approximately 50 km northeast of Plateau. Mt Wright and Plateau are both breccia-hosted gold deposits on the margins of a rhyolite plug."

 

"We will continue to inform the market on our progress at Plateau."

 

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: 1.95

Market: LSE
Market Cap: £10.77 m
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