Rockfire Resources PLC Jeddah Gold Prospect Update (6121O)

TIDMROCK

RNS Number : 6121O

Rockfire Resources PLC

10 February 2021

Rockfire Resources plc

("Rockfire" or the "Company")

Gold-in-soil anomaly identified at Jeddah Gold Prospect

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to announce that a gold-in-soil anomaly has been identified from soil sampling at the Jeddah Gold Prospect ("Jeddah"), located within the Company's 100%-owned Lighthouse tenement in North Queensland, Australia.

Jeddah Highlights:

-- Jeddah is located 2 km southwest of the Company's Plateau Gold Deposit, within the Lighthouse tenement.

-- In May 2018, Rockfire announced high-grade continuous rock chip samples at Jeddah, including 10 m @ 1.68 g/t Au and 8 m @ 1.23 g/t Au.

-- A cohesive gold anomaly has now been detected by soil sampling at Jeddah, covering an area of 250 m (east-west), by 150 m (north-south).

   --    The anomaly is defined by a low-order zone of + 10 ppb Au, with a peak value of 62 ppb Au.

-- The gold anomaly is open towards the south and the Company plans to extend soil sampling in that direction.

   --    Jeddah is an early-stage prospect, requiring grass-roots-style exploration, including geological/structural mapping, extension of the soil sampling and a ground magnetic survey.

An image showing the soil sampling results at Jeddah can be viewed via the following link.

http://www.rns-pdf.londonstockexchange.com/rns/6121O_1-2021-2-10.pdf

An image showing the location of Jeddah and other prospects within the Lighthouse tenement can be viewed via the following link. http://www.rns-pdf.londonstockexchange.com/rns/6121O_2-2021-2-10.pdf

David Price, Chief Executive Officer of Rockfire, commented:

"Our exploration work continues to generate and upgrade our exploration targets within the Lighthouse tenement. As more exploration is completed, our team assigns a priority ranking to our numerous prospects, enabling efficient and cost-effective exploration.

Being so close to Plateau, Jeddah provides an excellent prospect, particularly as epithermal textures in quartz veins have been mapped. The neighbouring Pajingo Gold Mine, which has produced more than 3 million ounces of gold, lies 25 km southwest of Jeddah and is an epithermal gold deposit.

"While further exploration is planned at Jeddah, Rockfire will continue to focus on the Plateau deposit in the near-term, following the significant Mineral Resource upgrade announced in January 2021. Our regional exploration work is continuing, including a 3-dimensional magnetic analysis of the Copperhead porphyry copper project, also in Queensland. We look forward to updating the market of our progress on these activities in due course. "

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 / Asha Chotai (Corporate 
  Finance) 
  Matt Butlin / Guy McDougall (Equity 
  Sales) 
 
 Yellow Jersey                              rockfire@yellowjerseypr.com 
 Sarah Hollins / Henry Wilkinson            Tel: +44 (0) 20 3004 
                                             9512

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February 10, 2021 05:00 ET (10:00 GMT)

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