(Alliance News) - Copper and gold-focused miner Rockfire Resources PLC said on Thursday the presence of an alluvial gold deposit has increased the potential of its Kookaburra tenement in Queensland, Australia.
The company's technical team identified the Brigalow Alluvial Goldfield after assessing historical work performed at its wholly-owned Australian asset.
Chief Executive David Price said: "Management acknowledges that alluvial gold deposits are notoriously difficult to sample and estimate. The company will capitalise on the presence of such large quantities of alluvial gold by exploring the headwaters of these gold-bearing streams, as well as directly beneath the alluvium for primary, hard-rock gold deposits."
Shares in Rockfire Resources were down 1.7% at 0.56 pence each in London on Thursday afternoon.
Rockfire Resources (ROCK)