We are joined again by David Price, Chief Executive Officer of ROCK, which is an Australian focused gold and copper company.
We have seen a lot of news flow lately from the company since our last podcast, our first question to David is with the last set of results being released. Can you give our listeners a brief overview of the recent results and the drill hole that gave you the biggest surprise?
Drilling hits high-grade gold under Plateau resource
18 December 2019
Rockfire Resources plc (LON: ROCK), the gold and base-metal explorer, is pleased to announce that high-grade gold has been intersected in the final two drill holes to test beneath the gold resource at the Company’s 100%-owned Plateau Gold Deposit in Queensland, Australia.
· 1 m @ 18.4 g/t Au in drill hole BPL012 is the second-highest gold grade encountered in drilling at Plateau;
· 12 m @ 2.5 g/t Au, including 5 m @ 4.8 g/t Au (from 61 m), in hole BPL012;
· 10 m @ 2.0 g/t Au, including 4 m @ 4.2 g/t Au (from 65 m), in hole BPL019;
· Further geophysics is planned to extend the survey completed in November 2019;
· These intersections extend the mineralisation at depth and are expected to expand the current resource estimate of 41,000 ounces of gold;
· All drill holes in the October 2019 drilling program hit potentially economic gold grades and potentially mineable widths;
· Modelling of mineralisation will be updated to include results from recent drilling;
· Additional reverse circulation (RC) drilling is planned to extend gold mineralisation along strike and at depth.
Please refer to the following link to view the drill hole locations.
David Price, Chief Executive Officer of Rockfire, commented:
“We’re delighted that drilling beneath the Plateau resource has hit such excellent grades and widths. These results demonstrate that gold mineralisation extends deeper and provides strong growth potential for the resource.”
“These deeper intersections are only 65m from surface and are still well within depths possible for open pit mining. There are operating gold processing plants nearby, so should any future toll treatment possibility eventuate, the costs of processing may materially reduce. I should clarify that no discussions have been instigated with the owners of these facilities at this point in time.”
“With all holes in this drilling campaign intersecting outstanding gold grades and widths, we are confident that our understanding of the geology and mineralisation is improving with each hole drilled. Additional geophysics will be undertaken to expand our interpretation at depth.”
“Targets for growth of the gold resource have been clearly identified and Rockfire plans to recommence drilling as soon as possible. The recent exercise of warrants has provided additional drilling capital and our technical team has already started planning for the next phase of drilling.”
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