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Extensive sulphide zone at Plateau

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RNS Number : 2440R
Rockfire Resources PLC
28 October 2019
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

28 October 2019

Rockfire Resources plc

("Rockfire" or the "Company")

Drilling encounters extensive sulphide zone at Plateau

Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer, is pleased to announce the completion of RC drilling at the 100%-owned Plateau Gold Deposit (Queensland, Australia).  The following points detail key observations from the drilling program:

·    A 215m deep hole (BPL025) successfully encountered an extensive sulphide zone within a large-scale chargeable IP anomaly,

 

·    The broad sulphide zone in BPL025 occurs between 74m and 215m downhole (141m length),

 

·    The 141m interval averages 5-10% sulphides (max 25%),

 

·    BPL025 ended in sulphide mineralisation,

 

·    All drill holes encountered either fresh or weathered sulphides,

 

·    Samples have been delivered to the lab for analysis.

 

 

A photo showing the sulphides encountered in the drilling can be viewed here. 

http://www.rns-pdf.londonstockexchange.com/rns/2440R_1-2019-10-27.pdf

 

 

David Price, Chief Executive Officer of Rockfire, commented:

"Through careful geological observations, the Rockfire technical team has gained a much better understanding of the detailed geology at Plateau. Reprocessing of historical geophysical data identified a high chargeable anomaly and our Rockfire team decided to test a new geological theory by drilling into the centre of the geophysical anomaly."

 

"The chargeable response appears to have been successfully intersected and has proven to host significant sulphide mineralisation. The sulphides occur in a breccia and within a sulphide-rich rhyolite. This is deemed significant by our technical team, as the Mt Wright gold mine (+1.0 M oz gold) is hosted in similar rock types, with the bulk of gold mineralisation at Mt Wright occurring within a sulphide-rich rhyolite. These findings support the concept that Plateau may host gold mineralisation akin to major, neighbouring, operational gold mines."

 

 "We look forward to the results and will inform the market as they come to hand."

 

 

 

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 (FAusIMM). Mr Fry has sufficient experience relevant to the div 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 a "Qualified Person"  in accordance with the AIM Rules Guidance 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

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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