Rockfire Resources upbeat on sampling at Double Event

Gold and base metal-focused resource company Rockfire Resources announced on Tuesday that soil and rock sampling at the Double Event Prospect, which forms part of the Lighthouse tenement in Queensland, Australia, has returned further “strong” gold anomalism.

The AIM-traded firm said the results extended the surface expression of the gold lode one kilometre further west from previous sampling completed by Rockfire in January.

It explained that the total strike length of the Double Event prospectivity was 4.5km long, reporting “extremely high” gold-in-soil results up to 3.86 grams per tonne.

Results from rock samples were up to 58.5 grams per tonne of gold, with the company adding that a parallel lode was suggested by the geochemical distribution.

Mineralised intervals along strike were being defined to assist with future drill targeting.

In aggregate, Rockfire said 424 soil samples and 12 rock samples were collected during the field programme.

Discrete zones of well-defined gold-in-soil anomalism were identified at Double Event, with each zone about 350 metres in length.

“To me, the important conclusion from this sampling is not so much the high-grade nature of the results, but the discrete, well-defined distribution of the anomalism,” said Rockfire Resources chief executive officer David Price.

“This demonstrates that the soil sampling is working well to define drill targets.

“Just as important as the higher results, are the areas of barren soils.”

Price said that “clear” definition helped to minimise the potential for fruitless drill metres in areas identified as non-mineralised, adding that the high-grade rocks were the most encouraging.

“We are gathering quotes for geophysical surveys to be undertaken at Double Event.

“Although we have confidence in the presence of gold along a very long strike extent. we require additional information at depth to help with target generation for future drill holes down to 100m below surface.”

Price explained that geophysics - particularly induced polarisation - would help to identify if areas of sulphide accumulation were present at depth.

“Any sulphide accumulations will be targeted for drill-testing.”