Soils add near-surface, high-grade gold targets

RNS Number : 1287P

Rockfire Resources PLC

05 February 2019

 

5 February 2019

Rockfire Resources plc

("ROCK", "Rockfire" or "the Company")

Soils add near-surface, high-grade gold targets

Rockfire Resources plc (LON: ROCK), the Queensland gold and copper-focused resource company, announces that soil sampling at the Company's 100%-owned Lighthouse tenement has pinpointed several discrete, strong gold targets within a 2km strike at Double Event Prospect.

·      Very high gold-in-soil results up to 0.23g/t Au (230 parts per billion), with 5 samples exceeding 0.1g/t Au (100ppb);

·      These soil results add significant potential for discovery of near-surface, high-grade gold at Double Event, where multiple drilling results include 3m @ 10.04g/t Au and 3m @ 2.94g/t Au from within 20m of the surface.

·      The highest gold-in-soil results originate from an area to the north of previous Rockfire drilling. This appears to be a parallel, mineralised vein and offers another target to increase potential gold ounces;

·      Two areas have been highlighted which require extension soil sampling. Gold-in-soil runs off the edge of the sampling survey in these areas.

Please click on the link provided below to see a plan view of the soil sampling results at Double Event.

 http://www.rns-pdf.londonstockexchange.com/rns/1287P_1-2019-2-5.pdf

Chief Executive Officer of Rockfire, David Price commented:

"Our recent soil sampling program at Double Event was an outstanding success. The soils have highlighted sections of the vein system which show high-grade gold-in-soil and which have not previously been explored."

"Gold-in-soil up to 0.23g/t is a very pleasing result and it is not often one sees such high-grade gold in soils. Just over 12% of samples at Double Event returned results above 10ppb and 5% are in excess of 50ppb (0.05g/t) Au. This is most encouraging."

"Several areas have been highlighted which require extensions to the survey, as gold-in-soil extends beyond the limit of the surveyed area. In addition to this, we will commence soil sampling to the west of Double Event and inside the adjoining Kookaburra tenement. This is expected to return gold-in-soil anomalies in areas where previous exploration for gold has been extremely limited."

"Such high gold-in-soil results and the delineation of discrete anomalies confirms our confidence in the potential of the Double Event Prospect. An extended soil sampling program, detailed ground magnetics and high-resolution photogrammetry will be undertaken to the west of Double Event, focused more inside the Kookaburra tenement. As we learn more about the orientation and distribution of gold at surface, the Kookaburra tenement is becoming an increasingly important target along strike from Double Event and has the potential to add significantly to any future discovery."

"In addition to this on-going work at Double Event, our exploration teams have also designed a soil sampling survey over the Copper Dome prospect and work at Copper Dome is planned to commence soon."

Competent Person Statement:

Information in this announcement that relates to exploration results is based on information compiled by Mr David Price, a Director of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price 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 under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

In quoting exploration targets, the potential quantity and grade is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

For further information on the Company, please visit www.rockfireresources.com or contact the following:

Rockfire Resources plc	Email: [e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser)	Tel: [phone]
John Depasquale/Nick Athanas
First Equity Limited (Broker)	Tel: [phone]
Jason Robertson

 

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