Last month, Rockfire Resources (LSE:ROCK) soared after announcing the potential discovery of a ‘large-scale gold deposit’ at its Plateau prospect in Queensland, Australia.
The business said drilling has returned broad, consistent gold assays with mineralisation occurring almost continuously throughout a 215m deep drill hole. In particular, the firm believes that hole BPL025 – which intersected 177 at 0.5g/t gold – has intersected the upper levels of a large mineralised system. Gold grades are now expected to increase continually alongside depth, as they do at a comparable 10-million-ounce gold project owned by Resolute Mining called Mt Wright.
Rockfire is now awaiting the results of a further 13 drill holes from Plateau, and already started a geophysical survey targeting anomalies to depths of around 500m below surface. This latter work aims to identify a ‘sweet-zone’, where higher average grades are likely to be attainable.
In the video below from Visual News Services, Rockfire’s CEO David Price discusses the news from Plateau in more detail, elaborating on what it could mean for the business moving forward.