Rockfire Resources PLC (LON:ROCK) said “consistent” gold grades and widths have been found in resource infill drilling at its Plateau project in Queensland, Australia.
Analysis from the BPL020 drill hole showed an interval of 1m at 8 grammes of gold per tonne (g/t), while another 30m interval had 1.2g/t including 9m at 3.1g/t.
READ: Rockfire Resources finds more “potentially economic” gold grades
An exploration hole returned 40m at 0.20g/t from surface, which the miner said provides further evidence for bulk-tonnage and open cut opportunity.
Rockfire is also waiting for the results from the final two drill holes drilled beneath the resource to determine if gold mineralisation can be tracked at depth.
“In this section of Plateau, the rhyolite and associated breccia, both of which host gold, are becoming better defined with each hole drilled,” chief executive David Price said in a release.
“Further exploration is required to determine if gold continues beyond the 400m strike already known to contain gold.”
Shares were 9% higher at 1.9p by noon on Monday.