(Alliance News) - Rockfire Resources PLC on Thursday said an initial phase of reverse circulation drilling has commenced at Plateau gold deposit, part of the Lighthouse tenement in North Queensland, Australia.
The AIM-listed metal exploration company said it intends to make six reverse circulation holes, for 1,000 meter of drilling. This first phase of drilling aims to define additional gold close to surface.
A second aim of this phase of drilling will test mineralisation down to 200 metres in areas where drilling is sparse, to increase confidence in gold grade to these depths.
"It is pleasing and exciting for drilling to be underway again at Plateau," said Chief Executive David Price.
"This initial drilling phase is expected to result in a greater understanding of the near-surface gold, which in turn is expected to lead to more accurate targeting for planned deeper drilling," added Price.
Rockfire Resources shares were trading 2.3% higher in London on Thursday at 1.05 pence each, having earlier jumped to 1.15p.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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