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(Alliance News) - Rockfire Resources PLC on Friday said silver at grades of up to two ounces per tonne have been returned at its Plateau gold deposit in North Queensland, Australia.
Shares in Rockfire ended down 11% at 1.05 pence in London.
All drill holes at Plateau returned significant silver assays with the silver credits adding "potential to the future economics of Plateau" according to Rockfire. The results were determined by using portable X-Ray fluorescence analysis of October 2019 drill samples.
Results include hole BPL025, which recorded 187 metres at 6.3 grammes per tonne of silver from 15 metres, including 11 metres at 32.6 grammes per tonne. Hole BPL012 returned 10 metres at 18.2 grammes per tonne of silver from 56 metres, including 3 metres at 35.4 grammes per tonne.
Chief Executive David Price said: "These silver grades are very pleasing and may add to the future economics of the project."
"The use of the portable XRF machine acts as a guide to mineralisation and analysis using proven laboratory techniques such as inductively coupled plasma is required to determine a definitive silver assay. Rockfire intends to submit these highly anomalous samples to the lab for definitive analysis. In addition to the silver, elevated and anomalous zinc and lead are also present and the company intends to submit these samples for further analysis also."
"We are eagerly awaiting the results of our recent drilling campaign at Plateau and the company is pleased to inform the market that samples have now been delivered to the laboratory in Townsville. Further announcements will be made as results become available."
By Anna Farley; annafarley@alliancenews.com
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