Proactive Investors - Run By Investors For Investors
Why invest in ROCK?
Rockfire Resources PLC: DEEP DIVE
OVERVIEW

Rockfire Resources getting clearer picture of Queensland gold prospect

Gold explorer's next move is to carry out geophysical surveys at its main prospect
queensland
OVERVIEW: ROCK The Big Picture
Rockfire's drilling last year showed a surface strike length of more than 4.5km
  • Aussie gold and copper explorer with assets in Queensland

  • Total strike length of Double Event prospect calculated at 4.5km

  • Surface gold-in-soil grades are extremely high

Rockfire Resources PLC (LON:ROCK) has extended the length where gold has been found in soil along the surface of its “bonanza” grade Double Event prospect in Queensland. 

Having sifted through soil and rock from another kilometre of surface soil in recent months, the samples continued the very high grades seen previously, Rockfire said, including a rock sample of 58.5 grammes of gold per tonne and gold-in-soil values up to 3.86 g/t.

Ahead of planned geophysical testing, chief executive David Price said the high-grade rocks are "most encouraging" but he felt the important conclusion was "not so much the high-grade nature of the results, but the discrete, well-defined distribution of the anomalism" in defining future drill targets.

He added: "This clear definition helps to minimise the potential for fruitless drill metres in areas identified as non-mineralised."

Bonanza grades

In November the explorer said that gold had been intersected in all but one hole over a 12-hole drilling programme, with highlights including 25.9 grams per tonne (g/t) of gold at 1-metre depth and 10.04 g/t of Gold at 3m depth.

Rockfire said the average vertical depth of gold intersection was 18m from the surface, adding that the grades and widths encountered meant there was “real potential for the discovery of open pit resources”.

Price said at the time that apart from the high-grade, near-surface gold, the most “exciting aspect” of the drilling was that it had discovered the strike length at the surface exceeded 4.5 kilometres in length, with two sections of 400m having been demonstrated to contain “potentially economic grades and potentially mineable widths".

Price also said that the Double Event vein had crossed into the Kookaburra licence, adding 1.5km to the vein system to explore to the west, meaning the licence was now known to host “potentially economic gold grades near surface”.

The results follow gold grades from another of the firm’s drilling projects in Queensland, Marengo, which were delivered in October.

Highlights from shallow holes drilled at the site included gold grades of up to 7.8 grams per tonne in one section as well as 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.

At the time, 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.

Next steps

Price said this month that Rockfire was gathering quotes from different contractors to carry out geophysical surveys along the strike, with the surface recent rock sampling indicating sulphide concentrations and gold-in-rock results showing quartz veins that contain gold.

"Although we have confidence in the presence of gold along a very long strike extent, we require additional information at depth to help with target generation for future drill holes down to 100m below surface.

"Geophysics, and particularly Induced Polarisation will help to identify if areas of sulphide accumulation are present at depth. Any sulphide accumulations will be targeted for drill-testing."

View full ROCK profile View Profile

Rockfire Resources PLC Timeline

Related Articles

Core from Thackaringa
February 26 2019
The company has received positive results in large-scale metallurgical test work on ore samples collected from drilling.
1553096936_W-Resources---Michael-Masterman.jpg
June 28 2019
W Resources is about to make a name for itself as a serious European-based supplier of tungsten
map of projects and drill rig picture
January 24 2019
The company is focused on the Redmoor Tin-Tungsten Project and Otago Gold Project.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use