Rockfire upbeat on latest drilling results from Plateau

(Sharecast News) - Gold and base metals explorer Rockfire Resources announced on Friday that long intervals of anomalous silver, zinc and lead have been intersected in drilling at its wholly-owned Plateau Gold Deposit, which is part of the Lighthouse tenement in North Queensland, Australia.
The AIM-traded firm said the analysis was from the drilling programme completed in January, describing it as "further supporting evidence" that the deposit was a "significantly large" mineralising system.

Silver assays up to almost one and a half ounces per tonne, or 43.9 grams per tonne, over a six metre section of drilling, including one metre at 113 grams of silver per tonne, represented some of the highest silver grades encountered so far at Plateau.

The silver results included 26 metres at 13.3 grams of silver per tonne in hole BPL031, from 74 metres, including 15 metres at 21.3 grams of silver per tonne from 47 metres, six metres at 43.9 grams of silver per tonne from 85 metres, and one metre at 113 grams of silver per tonne from 85 metres.

It also highlighted 203 metres at 3.68 grams of silver per tonne in hole BPL027 from zero metres, including 11 metres at 21.5 grams of silver per tonne from 145 metres, and seven metres at 17.46 grams of silver per tonne from 178 metres.

There was also 254 metres at two grams of silver per tonne in hole BPL026 from 87 metres, including 20 metres at 4.5 grams of silver per tonne from 89 metres.

Rockfire said there was also 83 metres at 3.05 grams of silver per tonne in hole BPL029 from 20 metres, including 16 metres at 5.4 grams of silver per tonne from 47 metres, and nine metres at 5.08 grams of silver per tonne from 82 metres.

Another highlight was 62 metres at 2.5 grams of silver per tonne in hole BPL030 from two metres, including six metres at 10.7 grams of silver per tonne from 55 metres.

Finally, it noted 45 metres at 1.61 grams of silver per tonne in hole BPL028 from 120 metres, and seven metres at 17.46 grams of silver per tonne from 178 metres.

Rockfire said a drill hole drilled 150 metres away by Newcrest Mining in 2007 intersected 300 metres at 2.2 grams of silver per tonne.

In terms of the zinc results, the company highlighted 10 metres at 1.72% zinc in hole BPL031 from 73 metres, and 126 metres at 0.31% zinc in hole BPL026 from 96 metres, including six metres at 1.05% zinc from 102 metres.

It also noted 79 metres at 0.32% zinc in hole BPL027 from 121 metres, including 27 metres at 0.5% zinc from 135 metres, and 43 metres at 0.35% zinc in hole BPL028 from 192 metres, including 11 metres at 0.6% zinc from 220 metres.

Rockfire also reported 46 metres at 0.35% zinc in hole BPL029 from 59 metres, and 30 metres at 0.22% zinc in hole BPL030 from 114 metres, including 14 metres at 0.5% zinc from 196 metres.

"The mineralised system at Plateau continues to provide encouragement for a significant deposit at depth," said chief executive officer David Price.

"The anomalous base metal values being observed within the top 200 m from surface are characteristic of the upper levels of an intrusion-related gold system (IRGS).

"Similar, long intervals of anomalous base metals were also observed in the higher levels of the Mt Wright Gold Mine, hosting over 1.5 million ounces of gold."

Price said that reaffirmed the company's belief that Plateau continued to demonstrate characteristics similar to Mt Wright, which lay 47 kilometres to the northeast.

"Rockfire is in the process of conducting a geochemical interpretation of the multi-element data, in order to delineate vectors towards high-grade gold targets.

"Quotes for the planned controlled-source audio-frequency magnetotellurics (CSAMT) geophysical survey are also currently being sourced.

"In addition to the work at Plateau, and as part of the company's multi-project strategy, our exploration team are actively planning our next phase of exploration at the Copper Dome copper-gold porphyry deposit and we look forward to updating the market with news to this regard in due course."

At 1239 GMT, shares in Rockfire Resources were down 0.16% at 0.62p.