LONDON (Alliance News) - Rockfire Resources PLC on Monday said that soil sampling at Cardigan Dam prospect in Australia has returned a "promising" gold-in-soil anomaly.
The company said it detected two broad gold-in-soil anomalous trends at the prospect, each of approximately 400 metres in length.
Chief Executive Officer David Price said: "Rockfire's strategy of systematic, cost-effective and rapid appraisal of each of its prospects has resulted in the definition of a distinct gold-in-soil anomaly at the Cardigan Dam prospect. The gold values, up to 0.2 parts per million of gold, represent strong anomalism and provide a clear target for further investigation."
"The company's systematic evaluation of Cardigan Dam will extend the soil sampling to the north, to explore the extent of surface mineralisation."
Rockfire Resources shares were trading down 6.7% at 0.70 pence each.
Rockfire Resources (ROCK)