(Alliance News) - Rockfire Resources PLC on Friday said a ground magnetic survey carried out at its Plateau gold deposit in North Queensland, Australia has highlighted multiple new target structures.
The Australia-focused gold and base metal exploration company said the survey discovered multiple structures which have not yet been explored and lie within 250 metres of its gold resource.
"This geophysical work has highlighted structures which are not readily discernible from the surface mapping. Of particular interest is the evidence of radiating structures gained from the data - a common phenomenon surrounding intrusive bodies, such as the rhyolite plug at Plateau. Several of these radiating structures host gold, but many of them are unexplored," said Chief Executive
Rockfire said it has reverse circulation drilling planned, which is expected to commence in May. Several of the new targets will be tested then.
Shares in Rockfire Resources were up 5.7% at 0.92 pence in London on Friday morning.
By Zoe Wickens; zoewickens@alliancenews.com
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Rockfire (ROCK)