David Price, CEO of Rockfire Resources (LON:ROCK) Major gold system hit in multiple holes at Plateau

David Price updates us on the news announcement released with results at Plateau today.


David Price, Chief Executive Officer of Rockfire, commented: These long intervals of gold in the upper levels of Plateau are extremely positive and demonstrate the size of the mineralising system.

The Rockfire technical team continues to see similarities to the Mt Wright Gold Mine, 45 km to the northeast of Plateau, hosting over 1.5 million ounces of gold, where the main gold ore is between 400 m and 850 m below surface.

Rockfire Resources plc (LON: ROCK), the gold and base-metal explorer, is pleased to announce all drilling results from the January 2020 program at the Plateau Gold Deposit, part of the Lighthouse tenement, North Queensland, Australia.

Highlights:

Drilling has returned extensive intercepts of continuous gold mineralisation, comparable to hole BPL025, which hit 177 m @ 0.5 g/t Au (as announced on 26 November 2019).

An important project milestone has been reached with a + 2.0 g/t Au zone being encountered at 145 m downhole. At the nearby Mt Wright Gold Mine (+1 m ounces of gold) the + 2.0 g/t Au zone was first discovered 158 m downhole.

· All drill holes hit gold, expanding Plateau to +200 m long, +70 m wide and +200 m deep;

· 171 m @ 0.4 g/t Au in hole BPL027 (from 26 m) including:

· 39 m @ 1.0 g/t Au (from 145 m); and

· 11 m @ 2.3 g/t Au (from 145 m);

· A peak gold value of 1 m @ 10.05 g/t Au was encountered in BPL027;

· 170 m @ 0.4 g/t Au in hole BPL030 (from 37 m) including:

· 10 m @ 1.0 g/t Au (from 54 m); and

· 19 m @ 1.0 g/t Au (from 174 m);

· 154 m @ 0.2 g/t Au in hole BPL026 (from 97 m): including:

· 46 m @ 0.3 g/t Au (from 200 m); and

· 15 m @ 0.5 g/t Au (from 226 m);

· These holes extend mineralisation more than 100 m east of the previously reported results from drill hole BPL025 of 177 m @ 0.5 g/t Au;

· BPL028 was a 251 m deep hole (limit of rig capability) which hit mineralisation in the last 10 m of the hole. The bottom of hole averaged 10 m @ 0.3 g/t Au, and included 1 m @ 1.7 g/t Au in the very last metre;

· 8 m @ 1.1 g/t Au (from 84 m) in hole BPL031 (in-fill hole);

· 8 m @ 1.0 g/t Au (from 40 m) in hole BPL029 (shallow in-fill hole) within a broad zone of 28 m @ 0.5 g/t Au.

Refer to the link provided, showing the drill hole location plan.

http://www.rns-pdf.londonstockexchange.com/rns/0204E_1-2020-2-25.pdf

Refer to the link provided, showing the Long Section Comparison to Mt Wright Gold Mine.

http://www.rns-pdf.londonstockexchange.com/rns/0204E_2-2020-2-25.pdf

Refer to the link provided, showing BPL026 & BPL027 cross section.

http://www.rns-pdf.londonstockexchange.com/rns/0204E_3-2020-2-25.pdf

David Price, Chief Executive Officer of Rockfire, commented:

“These long intervals of gold in the upper levels of Plateau are extremely positive and demonstrate the size of the mineralising system. The Rockfire technical team continues to see similarities to the Mt Wright Gold Mine, 45 km to the northeast of Plateau, hosting over 1.5 million ounces of gold, where the main gold ore is between 400 m and 850 m below surface.

“We appear to be at the top of a similarly large gold deposit. The dimensions of Mt Wright, which is 250 m long, 60 m wide and mined to over 1,200 m deep, compare favourably with those of Plateau; being 200 m long, 70 m wide and currently drilled to only 240 m. The broad intervals of gold mineralisation between 0.2 g/t and 0.5 g/t in the top 200 m are also characteristic of Mt Wright.”

“The next step is for Rockfire is to conduct a CSAMT (Controlled-source Audio-frequency Magnetotellurics) geophysical survey. Such a survey is expected to provide a high-definition target generation beneath the levels drilled so far at Plateau. CSAMT was used very effectively at Mt Wright, leading to the identification of deep drill targets. This is expected to commence as quickly as possible after the wet season finishes.”

Full update www.share-talk.co.uk/announcements/rns


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