Exploration Update

RNS Number : 5628J

Rockfire Resources PLC

22 December 2020

 

22 December 2020

Rockfire Resources plc

("Rockfire" or the "Company")

Exploration Update

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to provide an update on field and related exploration activity for its portfolio of 100%-owned exploration projects in North Queensland, Australia.

Highlights:

· Geological and mineralisation modelling is nearing completion to update the JORC resource at the Plateau gold deposit ("Plateau"), within the Lighthouse tenement. Resources will be estimated for both the Eastern Breccia and the Central Breccia. It is now expected that the resource update will be released earlier than anticipated and prior to the end of January 2021. In July 2019, Rockfire announced a maiden JORC resource of 1,147,330 t @ 1.10 g/t Au for a total of 40,400 ounces of gold at Plateau.   

· The Company's structural geology consultant is continuing work to model Plateau, aiming to provide further drill targets.

· Also within the Lighthouse licence, results from detailed soil sampling at Bell Rock and Jeddah gold prospects should be available before the end of January 2021.

· The helicopter-supported aeromagnetic survey at the Copperhead porphyry copper deposit is now complete. Rockfire's consulting geophysicist reports that the data obtained from the survey is of high quality and processing of the data for interpretation is now underway.

David Price, Chief Executive Officer of Rockfire, commented:

"Rockfire's programmes at Plateau and our regional prospects are proceeding very well and on time. The helicopter survey was completed efficiently and safely, resulting in high quality data collected from an average flight height of 35 m above ground level."

"Resource modelling at Plateau is proceeding very well, with modelling complete for both areas and resource estimation now in progress. This work is expected to deliver an updated JORC resource, as well as to identify areas requiring infill and step-out drilling for further resource expansion. We will continue to inform the market of our progress on all activities as new information comes to hand."  

For further information on the Company, 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 / Asha Chotai (Corporate Finance) Matt Butlin / Guy McDougall (Equity Sales)
Yellow Jersey	[e-mail]
Sarah Hollins / Henry Wilkinson	Tel: [phone]

 

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