Rockfire Resources PLC Plateau magnetic survey - new target structures (3716W)
April 23 2021 - 2:00AM
UK Regulatory
TIDMROCK
RNS Number : 3716W
Rockfire Resources PLC
23 April 2021
23 April 2021
Rockfire Resources plc
("Rockfire" or the "Company")
Plateau magnetic survey highlights new target structures
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to announce that a ground magnetic
survey has highlighted multiple new target structures at the
Company's 100%-owned Plateau gold deposit ("Plateau") in North
Queensland, Australia.
Highlights:
-- A ground magnetic survey has been completed at Plateau, where
the Company has previously announced a JORC gold resource of 53,336
ounces of gold in the top 100 m from surface.
-- The new ground magnetic data highlight structures which may
be faults, veins, or dykes, some of which are already known to host
high-grade gold found in rock samples.
-- Multiple structures have been highlighted which have not yet
been explored and lie within 250 m of the Company's gold
resource.
-- Rockfire has reverse circulation drilling planned and several
of these targets will be tested in the forthcoming drilling,
expected to commence in May 2021.
-- Previous geological, geochemical and geophysical exploration
techniques have suggested that gold may originate from the
southeast direction and there are promising structures aligned
towards the southeast. These structures will be tested during the
next drilling campaign.
An image showing the structural detail obtained from the ground
magnetic survey can be viewed by following the link provided.
http://www.rns-pdf.londonstockexchange.com/rns/3716W_1-2021-4-22.pdf
David Price, Chief Executive Officer of Rockfire, comments:
"This geophysical work has highlighted structures which are not
readily discernible from the surface mapping. Of particular
interest is the evidence of radiating structures gained from the
data - a common phenomenon surrounding intrusive bodies, such as
the rhyolite plug at Plateau. Several of these radiating structures
host gold, but many of them are unexplored.
"Rockfire intends to explore these features in the coming
drilling programme, which is expected to commence in May 2021. The
Company is planning infill and extension drilling at both the
Central Breccia and the Eastern Breccia, as well as exploration
drilling close to both gold resources.
"Regular announcements will be made once drilling commences and
the market will be kept up-to-date with drilling progress and
results."
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 and Kelly Gardiner (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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