20th Jan 2020 09:21
(Alliance News) - Rockfire Resources PLC said Monday it has recommenced drilling to expand gold mineralisation, encountered in hole BPL025 at its 100% owned Plateau gold deposit in Queensland, Australia.
Rockfire Resources shares were up 27% in London at 1.04 pence each on Monday.
Back in November the gold and base-metal focused explorer had said it intersected broad and consistent gold assays, indicative of a large-scale gold deposit, 177 meters at 0.5 grams per tonne gold.
The company said reverse circulation drilling is now in progress, and it is expected to take approximately 15 days to complete.
Geophysical anomaly will be tested by drilling two holes of 50 meters and 150 meters respectively, east of hole BPL025, with gold analyses to follow the completion of drilling.
The drilling program will aim to extend the near-surface gold resources at Plateau in north Queensland, the company noted.
David Price, chief executive officer, said: "This current drill program is a very exciting one, as we are testing at depth to the east of hole BPL025, which was a very successful hole."
"Success with this follow-up drilling will demonstrate significant extension of this deep gold mineralisation in an east-west orientation," Price said.
By Loreta Juodagalvyte; [email protected]
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