Rockfire Resources hits gold over 400m of strike length
London-listed explorer Rockfire Resources has intersected gold in 13 of 14 holes drilled at the Double Event Prospect in Queensland, Australia.
FTSE AIM All-Share
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16:54 14/11/24
Mining
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Rockfire Resources
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16:55 14/11/24
Rockfire discovered the gold over a 400-metre distance, most of which was intersected just 25m below the surface.
The firm turned in strong results from the assay, including a one-metre stretch of six grams of gold per tonne and 30 grams of silver per tonne.
Chief executive officer of Rockfire Resources, David Price, said, "To intersect near-surface gold in every hole bar one at Double Event is a great outcome. The system appears similar to the typical Charters Towers mineralisation style of narrow, sulphide-bearing quartz veins."
"Variation in gold grade along these veins is expected, however, gold is being intersected consistently along the vein, which indicates the structure is persistent. The entire mineralised strike length of 3 km (+1.5 miles) at Double Event illustrates the potential for this prospect along strike but the next step is to determine if similar potential exists at depth," he added.
As of 0955 BST, Rockfire shares had collected 2.89% to 0.93p.