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Rockfire Resources announces new Plateau target structures

Published by
Global Mining Review,


Rockfire Resources plc, a gold and base metal exploration company, has announced that a ground magnetic survey has highlighted multiple new target structures at the company's 100%-owned Plateau gold deposit in North Queensland, Australia.

Highlights

  • A ground magnetic survey has been completed at Plateau, where the company has previously announced a JORC gold resource of 53 336 oz of gold in the top 100 m from surface.
  • The new ground magnetic data highlight structures which may be faults, veins, or dykes, some of which are already known to host high-grade gold found in rock samples.
  • Multiple structures have been highlighted which have not yet been explored and lie within 250 m of the company's gold resource.
  • Rockfire has reverse circulation drilling planned and several of these targets will be tested in the forthcoming drilling, expected to commence in May 2021.
  • Previous geological, geochemical and geophysical exploration techniques have suggested that gold may originate from the southeast direction and there are promising structures aligned towards the southeast. These structures will be tested during the next drilling campaign.
David Price, CEO of Rockfire, commented: "This geophysical work has highlighted structures which are not readily discernible from the surface mapping. Of particular interest is the evidence of radiating structures gained from the data – a common phenomenon surrounding intrusive bodies, such as the rhyolite plug at Plateau. Several of these radiating structures host gold, but many of them are unexplored.

 

"Rockfire intends to explore these features in the coming drilling programme, which is expected to commence in May 2021. The company is planning infill and extension drilling at both the Central Breccia and the Eastern Breccia, as well as exploration drilling close to both gold resources.

"Regular announcements will be made once drilling commences and the market will be kept up-to-date with drilling progress and results."

 

Read the article online at: https://www.globalminingreview.com/exploration-development/23042021/rockfire-resources-announces-new-plateau-target-structures/

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Australian mining news Gold mining news