Rockfire Resources (LON:ROCK) Maiden Gold Resource for Lighthouse

Share Talk meet David Price, Chief Executive Officer of ROCK during his last visit to the UK while he was in London. We had a good conversation, covering the company progress and nice to see a positive market update today.



Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer is pleased to announce a maiden JORC Resource of over 50,000 ounces of near-surface gold at its 100%-owned Lighthouse tenements (“Lighthouse”) in Queensland, Australia.

· Inferred 1,349,000 tonnes @ 1.18g/t Au for 51,000 ounces of gold;

· Rockfire has a discovery cost of AUD$13 (£7.50) per resource ounce of gold;

· This resource includes drilling at both the Plateau and Double Event Prospects, providing two outstanding targets for resource growth within 30km of each other;

· Rockfire’s deepest gold intersection at Double Event is only 25m vertical from surface. The bulk of drilling at Plateau is within 50m vertical from surface;

· Double Event and Plateau remain open in all directions;

· Both resources are within easy trucking distance from operational processing plants;

· The next expansion resource target at Lighthouse is 2.7 – 4.8 million tonnes*, grading between 1.2g/t Au and 1.6g/t Au.



David Price, Chief Executive Officer of Rockfire commented;

“Our Maiden JORC Resource at Lighthouse provides a solid resource base to underpin the Company valuation. Rockfire is rapidly defining and expanding its asset base, with this JORC Inferred gold resource at Lighthouse adding to and complementing the historical 122,600 tonnes of copper owned 100% by Rockfire at the Copperhead Project.”

“Rockfire is on an exciting and rapid growth curve and we are looking forward to further expansion of our copper and gold resources with continued exploration success. This result from our Maiden Resource at Lighthouse demonstrates and measures our exploration success to date and provides a sound platform for continued growth of the Company’s asset base.”

“The Company’s prudent strategy of sound science, thorough evaluation and methodical exploration is being rewarded with measurable asset valuation increase. Our ambition to define large-scale mineral resources is beginning to bear fruit and our recent Maiden Resource merely signals the start of our planned resource expansion. This JORC gold resource provides the catalyst for our anticipated growth.”

* This is an exploration target only and must not be misconstrued as an estimate of a Mineral Resource or Ore Reserve. The potential quantity and grade are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.


Full RNS Link HERE 

A new corporate presentation is available to view here


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