Rockfire Resources plc the gold and base metal exploration company, is pleased to announce that reverse circulation (RC) drilling, which was completed in June 2020, has extended the footprint of gold mineralisation at the company's 100%-owned Plateau Gold Deposit, part of the Lighthouse tenement in North Queensland, Australia. Mineralisation continues to adhere to the Mt Wright model in the upper levels of the mineralising system.
The results of the drilling have extended gold mineralisation another 60 m east of all previous drilling within the top 200 m from the surface. Gold remains open towards the east and at depth.
A shallow, infill drill hole has intersected 82 m at 0.4 g/t golf (from surface) and strong silver results, including 10 m at 22.4 g/t silver (from 55 m), which includes 6 m at 32.4 g/t silver (1 oz/t silver).
David Price, CEO of Rockfire, commented: “These infill holes are in line with our expectations for grade and width in the top 200 m from surface and continue to indicate a very extensive gold mineralising system at depth. These latest results extend the mineralised envelope another 60 m to the east, opening up the opportunity to find more gold at depth towards the east."
"The silver results indicate that we are in the upper levels of the mineralising system and form a very important part of the mineralogical model we are developing. With the price of silver improving, the silver at Plateau may contribute to the economics as a by-product, should gold production eventuate.
"These five shallow holes will all contribute to our mineralisation model which will be used to estimate a resource upgrade, expected towards the end of the calendar year. In the meantime, our deeper drilling at levels around 500 m below surface is continuing both on time and within budget. I look forward to updating the market of our progress in the coming weeks."
Read the article online at: https://www.globalminingreview.com/exploration-development/20082020/rockfire-resources-extends-gold-mineralisation-footprint/