TIDMROCK
RNS Number : 7905T
Rockfire Resources PLC
29 March 2021
29 March 2021
Rockfire Resources plc
("Rockfire" or the "Company")
Rock assays confirm and expand gold targets at Plateau
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to announce that high-grade rock
assay results have expanded numerous targets at the Company's
100%-owned Plateau Gold Deposit in North Queensland, Australia
.
Highlights:
-- Rock chip sampling, comprising 34 samples, and geological
mapping have been completed over several high priority target areas
surrounding Plateau.
-- Rock chip sampling at the "Northwest Breccia" at the Plateau
gold deposit has returned high grade results up to 16.8 g/t Au and
50.4 g/t Ag.
-- Rock chip sampling at the "Northern Breccia", which lies 250
m north of the Eastern Breccia JORC gold resource, has returned
results up to 1.89 g/t Au and 24.2 g/t Ag.
-- The "Northern Breccia" is also strongly anomalous in zinc,
with one value of 0.66 % Zn returned, along with a further six rock
samples returning zinc above 0.1 % Zn.
-- A preliminary scoping study for Plateau remains in progress,
with initial recommendations expected shortly. The central purpose
of the study is to identify additional work required to steer the
project through a logical and systematic advanced exploration
phase.
-- A high-resolution ground magnetic survey is currently in
progress at Plateau. This survey covers the two JORC resources at
the Central and Eastern Breccias, as well as the Northwest and
Northeast Breccias.
-- Work planned at Plateau over the next six months includes:
-- A gravity survey to define deep targets at the Central
Breccia.
-- Infill and extension drilling at both the Central and Eastern
Breccias.
-- Exploration drilling at the Central and Eastern Breccias.
-- Soil sampling to define the extent of gold at the Northeast
and Northwest Breccias.
-- Exploration drilling at the Northeast and Northwest
Breccias.
The following link provides a map showing the location of each
of the breccias in relation to the drilled JORC Resources at
Plateau.
http://www.rns-pdf.londonstockexchange.com/rns/7905T_1-2021-3-29.pdf
David Price, Chief Executive Officer of Rockfire, commented:
"Rockfire has commenced its on-site exploration for the 2021
field season with rock sampling and geological mapping to confirm
targets close to Plateau. This work has confirmed historical
high-grade rock samples and extended each target by around 100m in
strike. These highly encouraging results provide opportunity to
increase near-surface gold ounces at Plateau once drilling
re-starts.
"Rocks strongly anomalous in gold have now been traced for more
than 150 m length at the Northwest Breccia and appear to represent
two parallel, linear structures. Historical rock sampling
identified gold up to 2.49 g/t Au, however Rockfire's recent
sampling has returned grades up to 16.8 g/t Au and 50.4 g/t Ag.
This gold trend remains open to the east and west.
"The area approximately 250 m north of the Eastern Breccia gold
JORC resource has historically returned anomalous gold-in-rocks up
to 12.1 g/t Au. The zone hosting these high grades has been
extended by recent Rockfire samples, which returned grades up to
1.9 g/t Au and 24 g/t Ag. The trend of anomalous rock samples is
now more than 100 m in length and remains open to the east and
west.
"We envisage the potential for two additional gold zones,
similar to the Eastern Breccia, which has a JORC resource of 42,700
ounces of gold. Clearly, it is too early to predict this outcome,
however the surficial geochemistry and geophysics are very similar.
We will update the market as further exploration results become
available, including results from our Preliminary Scoping Study at
Plateau."
Qualified Person Statement:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Edward Fry, the
Exploration Manager of Rockfire Resources plc, who is a Member of
the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr
Fry has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which has been undertaken to qualify as a Competent Person
as defined by the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves (the JORC Code) and a "Qualified Person" in accordance
with the AIM Rules Guidance Note for Mining and Oil & Gas
Companies. Mr Fry consents to the inclusion in the announcement of
the matters based on their information in the form and context in
which it appears.
For further information on the Company, please visit
www.rockfireresources.com or contact the following:
Rockfire Resources plc: info@rockfireresources.com
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Tel: +44 (0) 20 3328
Adviser & Broker) 5656
John Depasquale (Corporate Finance)
Matt Butlin / Guy McDougall (Equity
Sales)
Yellow Jersey rockfire@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
Notes to Editors
Rockfire Resources plc (LON: ROCK) is an exploration company
with a portfolio of 100%-owned near-surface gold and large-scale
copper projects in Queensland, Australia. Each of the gold projects
are located within 50 km of operating gold mines and the Company's
copper projects lie within 250 km of Australia's largest copper
refinery.
The Company's flagship project, the Plateau Gold Deposit, is
part of the Lighthouse Tenement, and bears significant geological
similarities to the nearby Mt Wright gold mine (45km to the
northeast), where 1.5 million ounces of gold have been mined. More
than 14,000 m have been drilled within the Lighthouse tenement.
Drilling to date at the Company's copper projects, Copperhead
and Copper Dome (35 km and 85 km southwest of the town of
Proserpine respectively), are indicative of large-scale porphyry
targets. Both projects have been drilled by previous explorers but
remain under-explored, leading the Board to believe that they
demonstrate significant exploration upside potential.
Rockfire Resources has adopted a strategy of growth based on
advancing exploration across its existing portfolio of projects, as
well as the continual assessment of opportunities to acquire
outstanding strategic mineral projects worldwide.
The Company is led by a highly skilled management team, with a
proven track record in exploring and discovering projects.
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