(Alliance News) - Rockfire Resources PLC said Monday it has completed drilling and found an "extensive sulphide zone" at the Plateau Gold Deposit in Queensland, Australia.
The gold and base-metal focused explorer said 215 metre deep hole BPL025 "successfully encountered an extensive sulphide zone within a large-scale chargeable IP anomaly."
The company said the broad sulphide zone occurs between 74 and 215 metre downhole and averages 5-10% sulphides.
Rockfire Resources said all drill holes encountered either fresh, or weathered, sulphides and their samples have been delivered to the lab for analysis.
David Price, chief executive officer, said: "These findings support the concept that plateau may host gold mineralisation akin to major, neighboring, operational gold mines. We look forward to the results and will inform the markets as they come to hand."
Rockfire Resources shares were up 6.4% in London at 0.34 pence each on Monday morning.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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