Rockfire Resources Plc (LON:ROCK) updated investors on its inaugural reverse circulation drilling programme at the Marengo project, Queensland.
Highlight results from shallow holes included gold grades up to 7.8 grams per tonne in one section.
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They included 2.1 grams per tonne over 4 metres (with 1 metre at 7.8 g/t), 5 metres at 0.5 g/t (with 1 metre at 1.9 g/t) along with a number of other sections above 1 g/t.
Rockfire told investors that future work at Marengo will focus on an additional 16 historical workings at the Homeward Bound prospect along with more than 30 prospects throughout the entire goldfield.
Meanwhile, a 19 hole drill programme at the Double Event (Lighthouse) is planned for October/November.
"The Homeward Bound Prospect comprises 17 historical gold shafts and pits,” said David Price, Rockfire chief executive.
“The recent drilling only tested beneath one of the old workings at Homeward Bound and intersected gold (+/- copper)-bearing veins at very shallow depths.
“The Marengo licence incorporates an entire goldfield and future work at Marengo will focus on the numerous historical workings, including more than 30 historical prospects within a 5 square km area."
Price added: “Rockfire has a large portfolio of prospects and this strategy demonstrates our conviction that discovery is only delivered from the drill bit.
“We will continue to drill our targets in a systematic, thorough and swift manner."
"Our immediate focus is on a 19-hole drilling program at Double Event, which is expected to commence before the end of October. An IP geophysics survey at Copperhead, is expected to start in November.”