Sunshine Gold finds gold and cobalt at Lighthouse

RNS Number : 6152V

Rockfire Resources PLC

06 April 2023

 

06 April 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Sunshine Gold finds gold and cobalt at Lighthouse JV

Rockfire Resources plc (LON: ROCK), the gold, base metal, and critical mineral exploration company, is pleased to advise the market that ASX-listed Sunshine Gold Limited has provided an update of their exploration activities at Rockfire's Lighthouse tenement in Queensland, Australia. Sunshine Gold Limited is farming into the Lighthouse tenement and has the option to earn a maximum 75% interest in the tenement by expenditure of AUD$2.2m over a 3-year period.

Please follow this link to view the full announcement by Sunshine Gold to the ASX. http://www.rns-pdf.londonstockexchange.com/rns/6152V_1-2023-4-6.pdf

Highlights

· Field reconnaissance over a previously identified 300m ridge of gold anomalism at Cardigan Dam identified a gossanous breccia. The best gold result assayed 13.20 g/t Au, 4.8 g/t Ag

· A new zone of mineralisation identified approximately 500m south of the gossanous ridge, with a rock chip assay returning 9.58 g/t Au, 9.9 g/t Ag

· A rock chip returned elevated cobalt (Co - critical mineral) and copper (Cu) over a strong magnetic anomaly, 250m NE of the gossanous ridge, returning 0.62% Co, 0.48% Cu, 0.92% Ba, 185ppm Ni

David Price, Chief Executive Officer of Rockfire, commented:

"The discovery of an elevated cobalt sample is an interesting and exciting discovery, particularly with the increasing demand for cobalt. Cobalt is used in large quantities in battery storage of energy and the supply of cobalt as a raw material for future energy storage is a growing and important industry.

"Sunshine Gold states that further investigation of the cobalt-enriched gossan is required, but it is also extremely exciting to see the high-grade gold in the rock samples being collected at Cardigan Dam Prospect, within the Lighthouse tenement.

"We are happy with the thorough appraisal being undertaken by Sunshine and delighted to see new, high-grade targets being identified. We look forward to keeping the market informed of exploration progress at Lighthouse."

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

Rockfire Resources plc :	[e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser & Broker):	Tel: [phone]
John Depasquale / George Payne (Corporate Finance)
Matt Butlin / Kelly Gardner (Sales and Corporate Broking)

Notes to Editors

Rockfire Resources plc (LON: ROCK) has a portfolio comprising a high-grade zinc/lead/silver/germanium deposit in Greece and gold/copper/silver projects in Queensland, Australia.

§   The Molaoi deposit in Greece has a JORC resource of210,000 tonnes of zinc, 39,000 tonnes of lead and 3.5 million ounces of silver, using a 4% Zn cut off.

§   The Plateau deposit in Queensland has a JORC resource of 131,000 ounces of gold and 800,000 ounces of silver, using a 0.5g/t Au cut off. 53,000 of these ounces lie within the top 100m from surface.

§   The Copperhead deposit in Queensland has a JORC resource of 80,000 tonnes of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver, using a 0.13% CuEq. cut off.

Qualified Person Statement

The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled by Mr Matt Price, a Competent Person who is a Member of the Australian Institute of Geoscientists (AIG) and the Australian Institute of Mining and Metallurgy (AusIMM). Mr Price has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Price consents to the inclusion in the report of the matters based on his information in the form and context in which it appears .

 

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