(Alliance News) - Rockfire Resources PLC on Friday said it has started drilling at the Plateau gold deposit, located in North Queensland, Australia.
Rockfire Resources shares were trading 21% higher in London on Friday at 0.32 pence each.
The AIM-listed metal exploration company said the drilling aims to extend the current resource and test new geological targets.
In addition, Rockfire said it plans to test a geophysical anomaly identified by reprocessing historical geophysical data.
"We're excited to start drilling at Plateau as this presents a great opportunity for Rockfire to potentially discover a very large gold deposit," said Chief Executive David Price.
"Plateau has similarities to the currently operational Mt Wright gold mine which occurs approximately 50 kilometres north east of Plateau. Mt Wright and Plateau are both breccia-hosted gold deposits, with similar alteration and mineralisation styles," explained Price.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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