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Rockfire Resources - Plateau drilling intersects strong sulphides

RNS Number : 9998A
Rockfire Resources PLC
27 January 2020
 

27 January 2020

Rockfire Resources plc

("Rockfire" or the "Company")

Plateau drilling intersects strong sulphides

Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer, is pleased to announce that drilling at the Company's 100%-owned Plateau gold deposit in north Queensland has intersected broad sulphide intervals, including a strong sulphide zone (up to 50%) over several metres.

·    Reverse Circulation (RC) drilling is now complete, with a total program of 1,155m of drilling in 6 drill holes; 

·    All drill holes encountered broad intervals of sulphides, including a zone of strong sulphides (up to 50%) encountered in one hole at a downhole depth of 84m; 

·    The drill program was expected to take approximately 15 days to complete, however good drilling/ground conditions enabled the drilling contractor to complete the program ahead of schedule and within budget; 

·    The Company elected to drill several additional deep holes to test a geophysical chargeable response, which resulted in fewer infill holes being drilled than planned.

 

A photograph of drill chips hosting strong sulphide mineralisation can be viewed here: http://www.rns-pdf.londonstockexchange.com/rns/9998A_1-2020-1-27.pdf. Samples from the drilling programme will be delivered to the laboratory this coming week for analysis, and further announcements will be made in due course.

 

David Price, Chief Executive Officer of Rockfire, commented:

"Our drill program is now complete and we're very happy to have completed this prior to the arrival of the wet season. Rockfire made the most of the opportunity to complete this short program prior to the wet and is looking to recommence drilling at the conclusion of the wet season."

 

"It's encouraging to see sulphides once again being encountered over broad intervals. Although sulphide occurrence does not necessarily translate into gold occurrence, it is an encouraging sign for gold mineralisation."

 

"Drill samples will be delivered to the laboratory this coming week and the Company will inform the market as results arrive back. The lab is unable to provide a definitive timeframe for results however it is expected to be a number of weeks before these results are available."

 

For further information on the Company, please visit www.rockfireresources.com or contact the following:

 

Rockfire Resources plc

David Price, Chief Executive Officer

 

[email protected]

 

 

 

Allenby Capital Limited (Nominated Adviser)

Tel:+44 (0) 20 3328 5656

John Depasquale / Asha Chotai

 

 

 

SI Capital Ltd

Tel:  +44 (0)14 8341 3500

Nick Emerson

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Rockfire Resources PLC

Price: 0.55

Market: LSE
Market Cap: £3.48 m
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