Looking more and more like Mount Wright25 Feb 2020 10:40
"The Rockfire technical team continues to see similarities to the Mt Wright Gold Mine, 45 kilometres to the northeast of Plateau, hosting over 1.5 million ounces of gold, where the main gold ore is between 400 metres and 850 metres below surface.
"We appear to be at the top of a similarly large gold deposit."
Price said the dimensions of Mt Wright, which is 250 metres long, 60 metres wide and mined to over 1,200 metres deep, compared "favourably" with those of Plateau, being 200 metres long, 70 metres wide and currently drilled to 240 metres.
He said the broad intervals of gold mineralisation between 0.2 and 0.5 grams per tonne in the top 200 metres were also characteristic of Mt Wright.
"The next step is for Rockfire is to conduct a controlled-source audio-frequency magnetotellurics (CSAMT) geophysical survey.
"Such a survey is expected to provide a high-definition target generation beneath the levels drilled so far at Plateau."
Price noted that CSAMT was used "very effectively" at Mt Wright, leading to the identification of deep drill targets.
"This is expected to commence as quickly as possible after the wet season finishes."