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Home Exploration & development 29 Jan 21 Rockfire Resources announces Plateau resource surge
Rockfire Resources announces Plateau resource surge
Published by Jessica Casey, Editor
Global Mining Review, Friday, 29 January 2021 11:40
Rockfire Resources plc, a gold and base metal exploration company, has announced that the company's 100% owned Plateau Gold Deposit, in Queensland, Australia, has surpassed a JORC (2012) mineral resource of 200 000 oz of gold (Au). This represents a 515% increase in gold ounces since the company's maiden JORC (2012) mineral resource reported previously in July 2019.
Highlights
The overall gold envelope at Plateau (grades above 0.2 g/t Au) has resulted in an indicated and inferred mineral resource of:
11.4 million t at 0.6 g/t Au and 4.0 g/t silver (Ag.)
208 278 oz of Au and 1.5 Million oz of Ag.
Within this envelope, and using a higher cut-off (grades above 0.5 g/t Au), the Indicated and inferred mineral resource is:
3.9 million t and 1.1 g/t Au and 6.4 g/t Ag.
131 302 oz of Au and 800 000 oz of Ag.
Using the same 0.5 g/t Au cut-off, a subset of the mineral resource at shallow depths (0 – 100 m) is comprised 81% in the indicated category and 19% in the inferred category and could potentially form an early, opencast mining opportunity.
1.4 million t and 1.2 g/t Au and 8.8 g/t Ag.
53 336 oz of Au and 390 000 oz of Ag.
The above 53 336 oz of Au could conceivably form a low cost, early, opencast mining operation and Rockfire is working vigorously to pursue such opportunity. Any future production could benefit from Plateau being in proximity (within 50 km) of several operating gold processing plants by minimising capital costs for mine development.
The mineral resource category and classification has also resulted in an upgrade of +37% of the gold ounces into the higher confidence indicated level, using a 0.2 g/t Au cut-off.
The mineral resource remains open along strike and at depth, leaving scope for significant, further resource increases. Within 200 m to the north and south of Plateau, rock chip sampling has returned 12.1 g/t Au and 6.69 g/t Au, respectively. Both areas are undrilled and are not included in the current mineral resource estimate.
The company is planning additional shallow drilling in the top 100 m from surface to infill and extend near-surface gold. Deep drilling at Plateau is not expected until a gravity survey, planned for April 2021, is completed. This survey is being designed to confirm a target at depths beyond 500 m.
Rockfire's discovery cost, based on the recent drilling and mineral resource is approximately £6/oz of gold. This confirms that Rockfire is a prudent and consistent,