logo-loader
viewRockfire Resources PLC

Rockfire Resources finds more “potentially economic” gold grades

“These holes are interpreted to represent the near-surface expression of what we believe to be a large gold system”

Rockfire Resources PLC -

Rockfire Resources PLC (LON:ROCK) said analysis of four new drill holes at its Plateau project in Queensland, Australia showed further “potentially economic” gold grades.

Assay results from the BPL015 drill hole showed an interval of seven metres (m) at 2.3 grammes of gold per tonne (g/t), within a broader interval of 12m at 1.3 g/t and a larger interval of 29m at 0.63 g/t just below the surface.

The hole also revealed an individual intercept of 1m at 7.8 g/t.

At BPL016 there was 5m at 1.3 g/t of gold from 14m depth, which lies within a broader zone of 18m at 0.7 g/t.

This drilling builds on the recent discovery of a new breccia zone that had been missed by previous explorers, extending the mineralised target zone by another 150m.

Rockfire, which has not yet added the new results in its resource estimate for its 100%-owned Plateau of 41,000 ounces of gold, expects results from a further nine drill holes over the next two weeks.

David Price, Rockfire's chief executive officer, said: “It is extremely pleasing to have four holes drilled into a new target, with all four holes returning potentially economic gold grades and potentially mineable widths, so close to surface.”

He said the results demonstrate “the strength of the near surface gold mineralisation, which is still open in all directions”, with the central breccia “a priority target for further exploration”.

“These holes are interpreted to represent the near-surface expression of what we believe to be a large gold system encountered at depth in hole BPL025. Importantly, the four exploration holes into the Central Breccia extends the mineralised target zone by another 150m towards the east. The central breccia lies above a recently demonstrated geophysical resistivity and chargeable anomaly, providing Rockfire with a very large target for future gold exploration,” Price added.

Quick facts: Rockfire Resources PLC

Price: 1.74 GBX

LSE:ROCK
Market: LSE
Market Cap: £13.09 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Smart Metering Systems boss expects to be at the forefront of UK's zero...

Smart Metering Systems PLC's (LON:SMS) chief executive Alan Foy says it has £76mln indexed linked annualised recurring revenues on the books with at least an additional £40mln in waiting when it converts its minimum secured order book of 2mln to smart meters. Foy explains that the company gets...

4 hours, 20 minutes ago

2 min read