(Alliance News) - Rockfire Resources said Monday that results from resource infill drilling at its 100%-owned Plateau Gold Deposit in Queensland, Australia have returned consistent gold grades and widths.
Rockfire shares were up 11% in London at 1.95 pence each on Monday.
The gold and base metals explorer said the "excellent" results bolsters its ambition to define a high-confidence open pit gold resource.
Rockfire said new results include an individual intercept of one metres at 8.0 grams per ton of gold in hole BPL020 and four metres at 3.3 grams per tone of gold in hole BPL021.
The company said it is awaiting the results from the final two drill holes BPL012 and BPL019, which were drilled beneath the resource to determine if gold mineralisation can be tracked at depth.
Chief Executive Officer David Price said: "These near-surface infill gold results start to build confidence that an open pit gold resource may be realized at plateau and management is very happy with the progress of work at plateau and the results being achieved."
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Rockfire (ROCK)