Rockfire Share Price
The Rockfire share price (LON:ROCK) has rallied since its exploration update on 24 June. It is up by 22.05% on Monday and has now increased by 42.09% over the past five days. At 1.19p per share the Rockfire share price is at its highest point in over five months. The company’s update was regarding both its copper and gold projects.
Exploration Update
Rockfire confirmed last week that its exploration programmes had commenced at its 100% owned project in North Queensland, Australia.
Access track and drill pad preparation has begun at the Copperhead porphyry project in preparation for diamond drilling, a company statement read, with the drilling supervisor due to arrive on site this week to assess logistics.
With regard to its gold drilling, a high-definition gravity survey has started at the Plateau gold deposit, part of the Lighthouse tenement. This survey is designed to detect concentrations of sulphides at depth, beneath the 1.4 million tonnes @ 1.20 g/t Au already discovered in the top 100 m from surface at Plateau. Roughly 70% of this survey is complete, according to Rockfire.
In addition, extension soil sampling has been completed at the Bell Rock gold prospect, which also lies within the Lighthouse tenement and is 3.5 km southeast of Plateau. Soil samples from Bell Rock have returned high gold-in-soil values up to 0.4 g/t Au.
David Price, Chief Executive Officer of Rockfire, commented: “Our preparation for diamond drilling at Copperhead is progressing well with access track reestablishment well underway.Drill rig mobilisation is anticipated as soon as the access tracks and drill pads have been completed. In the meantime, a camp, core yard and logistical base has been established in anticipation for drilling.”
Rockfire
Rockfire is an exploration company with a portfolio of 100%-owned near-surface gold and large-scale copper projects in Queensland, Australia. Each of the gold projects are located within 50 km of operating gold mines and the Company’s copper projects lie within 250 km of Australia’s largest copper refinery.
The company’s flagship project, the Plateau Gold Deposit, is part of the Lighthouse Tenement, and bears significant geological similarities to the nearby Mt Wright gold mine (45km to the northeast), where 1.5 million ounces of gold have been mined. More than 14,000 m have been drilled within the Lighthouse tenement.