Rockfire Resources plc, the gold and base metal exploration company, provides an update on diamond drilling activities at the Plateau Gold Deposit ("Plateau") and progress on geophysical surveys planned for Copperhead and Copper Dome, all 100%-owned by Rockfire in North Queensland, Australia.
Drilling highlights include:
Five diamond drill holes have been completed to date, with the sixth hole expected to be completed within the coming weeks.
A variety of sulphides are observed in all the drill holes, with percentages varying from trace amounts to levels exceeding 40% of the rock.
Rocks being encountered at levels approaching 500 m vertical depth are strongly altered and strongly mineralised with sulphides within the breccia system.
David Price, Chief Executive Officer of Rockfire commented:
"Our Phase 2 drilling programme at Plateau is progressing well and a lot of new information is being collected with each drill hole. Interestingly, each drill hole has intersected very different styles of sulphide mineralisation; some dominated by pyrite, others dominated by sphalerite (zinc) and pyrrhotite (a magnetic sulphide) and some containing a mix of various sulphides."
"Our first diamond drill hole, BPL028, was an opportunity to extend an RC hole which finished at
251 m in elevated gold mineralisation (1.7 g/t Au). The extension intersected further broad, low-grade gold and elevated silver and zinc. Individual narrow intervals of higher-grade gold (5.03 g/t Au) were encountered at depth. The hole is strongly altered and strongly mineralised by sulphides, indicating that the system remains highly active at depths of around 400 m below surface. This hole has expanded the low-grade mineralised envelope and provided encouragement that higher grades (above 5.0g/t Au), although narrow, are still being encountered at depth."
"Our initial schedule of six holes within our Phase 2 drilling programme is nearing completion. The drilling rig is expected to be released upon completion of Phase 2, allowing time for detailed data collection, return of assay results and modelling to assist planning for Phase 3 drilling. Phase 3 is expected to test down to 750 m vertical depth, assuming success from the Phase 2 programme."
"Rockfire is also preparing for a helicopter-supported aeromagnetic survey over both the Copperhead and Copper Dome porphyry copper projects. At this point in time, the geophysical contractor is anticipating a start to our surveys in the coming months."