(Alliance News) - Rockfire Resources PLC said Wednesday that high-grade gold has been intersected in the final two drill holes at its 100%-owned Plateau gold deposit in Queensland, Australia.
The gold and base-metal explorer said that 18.4 grams per tone of gold in drill hole BPL012 is the second-highest gold grade encountered in drilling at the Plateau.
The company also said that all drill holes in the October drilling program hit potentially economic gold grades and potentially mineable widths.
Further geophysics is planned to extend the survey completed in November 2019, the company noted.
David Price, chief executive officer, said: "We're delighted that drilling beneath the Plateau resource has hit such excellent grades and widths. These results demonstrate that gold mineralisation extends deeper and provides strong growth potential for the resource."
Rockfire Resources shares were down 16% in London at 1.33 pence each on Wednesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Rockfire (ROCK)