19th Aug 2020 14:28
(Alliance News) - Rockfire Resources PLC on Wednesday said that reverse circulation drilling completed in June has extended the gold mineralisation at the company's 100% owned Plateau gold deposit in north Queensland, Australia.
The gold and base metal exploration company said that mineralisation has been extended another 60 metres east of all previous drilling.
Mineralisation continues to adhere to the Mt Wright model in the upper levels of the mineralising system, the company explained.
A shallow, infill drill hole saw 6 metre at 2.9 grams per tonne of gold from 59m and 9m at 2.2 grams per tonne of gold from 56m.
Hole BPL035 also intersected strong silver results including 10 metre at 22.4 grams per tonne from 55m.
These results were from the last five shallow infill and extension reverse circulation holes drilled in June.
Chief Executive David Price said: "These infill holes are in line with our expectations for grade and width in the top 200 metre from surface and continue to indicate a very extensive gold mineralising system at depth. These latest results extend the mineralised envelope another 60 metre to the east, opening up the opportunity to find more gold at depth towards the east."
The company added that the current diamond drilling program is still on track and within budget. An update on its progress will be provided within the next few weeks.
Rockfire Resources shares were up 3.2% at 1.62 pence each on Wednesday afternoon in London.
By Greg Roxburgh; [email protected]
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