Shares in Rockfire Resources PLC (LON:ROCK) jumped in mid-morning trading Wednesday after it completed a drilling programme at its Double Event prospect in Queensland, Australia.
The AIM-listed miner said the drilling had encountered sulphides, including pyrite and galena (lead sulphide) at predicted depths.
READ: Rockfire Resources kicks off next phase of Double Event drilling
The program had involved the drilling of 12 reverse circulation holes with a total depth of 605 metres, all intersecting vein quartz with varying amounts of sulphides including pyrite and galena.
A single deep hole of 118m had also been drilled at depth beneath the eastern workings where the company had intersected gold intercepts in June.
Rockfire said the results of the drilling had been delivered to the lab, with assay results expected within the next week.
Drill results
David Price, chief executive of Rockfire, said that due to a “much larger and more powerful” drilling rig being deployed at the prospect, the length of the 10-day drilling program had been “substantially reduced, saving both time and money”.
Shares were up 6.6% at 1.2p.