Rockfire Resources granted exploration permit for Kookaburra asset

(Sharecast News) - Rockfire Resources has been granted an exploration permit for its Queensland asset through its wholly-owned subsidiary, BGM Investments, adding "material acreage" to the group's already significant ground-holding in the district.The Kookaburra exploration permit, which covers an area that has produced more than 20m ounces of gold and continues to produce from three operating gold mines, will last for a period of five years.Rockfire, which also holds tenements south of Charters Towers, said the permit gave the firm a "significant exploration prospectivity" to its portfolio of valuable gold tenements in Queensland with its 232 square kilometres of gold and copper prospectivity.Chief executive David Price, said, "We have been looking forward to Kookaburra being granted, as this tenement adds significant upside to Double Event, with the western extension of the lode now under Rockfire control.""As an added bonus, Kookaburra includes an alluvial deep-lead (ancient) river bed, with abundant workings along the length of the gold-bearing river gravels. Although notoriously difficult to attain JORC resources, the gold included in this ancient channel may provide a vector towards the source of the river-hosted gold," he added.As of 1350 BST, Rockfire shares had jumped 4.93% to 1.57p.