REG - Rockfire Resources - Sunshine commences drilling at Lighthouse

Rockfire ResourcesAnnouncement

15/11/2023 09:45

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RNS Number : 5591T  Rockfire Resources PLC  15 November 2023

 

15 November 2023

Rockfire Resources plc

("Rockfire" or the "Company")

Sunshine commences drilling at Lighthouse, Queensland

Rockfire Resources plc (LON: ROCK), the base metal, gold, and critical mineral
exploration company, is pleased to announce that the Company has been notified
by Sunshine Metals Limited (ASX:SHN) ("Sunshine"), that it has commenced
drilling at Rockfire's Lighthouse tenement in Queensland, Australia. Sunshine
is farming into the Lighthouse tenement and has the option to earn a maximum
75% interest in the tenement by expenditure of AUD$2.2m over a 3-year period.

 

Three holes (23PLRC_Prop_001, 002, 004) are designed to target the northeast
contact of the main diorite at Plateau, in a sparsely drilled location. The
holes will drill westward, towards the pipe contact. Hole 23PLRC_Prop_003 is
designed to test a structure coming off the northeast contact and trending
eastward. The third hole, 23PLRC_Prop_007 will test a zone of elevated
gold-in-rocks, which includes a Rockfire sample assaying 6.96g/t Au and
validated by Sunshine with a value of 7.46g/t Au.

 

Five drill holes (23CDRC_Prop_001 - 004; and CD23_Prop_010) are proposed at
Cardigan Dam West and designed to target the Main Gossan and its eastern
extension. Holes 001-003 will target the central part of the surface
anomalism, which trends northwest. Hole 010 is proposed to target a mapped
east-west trending breccia zone, believed to be the eastern extension of the
Main Gossan structure. One hole, (23CDRC_Prop_004) will test a
northwest-trending lineament which has returned rock chips up to 59.5g/t Au.

 

One drill hole (23HCRC_Prop_001) is planned to target immediately below a
nickel-in-rock assay at Horse Creek Prospect, which lies approximately 750m
northeast of Plateau.

 

David Price, Chief Executive Officer of Rockfire, commented:

 

"This is a tremendous start by Sunshine and demonstrates the commitment of our
partner to the project. The team has identified some impressive targets at
Plateau, Cardigan Dam and Horse Creek and Rockfire is wishing them all the
best success for the drilling programme."

 

"Of note is the very high-grade gold identified at Cardigan Dam West. Grades
up to 59.9 g/t Au are enticing and present opportunity for exploration
success. The northeast corner of Plateau is close to where the Main Lode meets
the Eastern Lode, but this area remains under-drilled. It's exciting to have
drilling focussing on this area."

 

"It's great to see Sunshine out there actively drilling our Lighthouse project
and we are looking forward to updating the market with results as they come to
hand."

 

 

For further information on the Company, please visit  or contact the
following:

 

 Rockfire Resources plc:                                                        info@rockfire.co.uk (mailto:info@rockfire.co.uk)
 David Price, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser & Broker):                          Tel: +44 (0) 20 3328 5656
 John Depasquale / George Payne (Corporate Finance)
 Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)
 Drillhole              Easting       Northing      Elevation     Azimuth       Dip                        Depth
 Proposed Name          (UTM)         (UTM)         (mAsL)        (°)           (°)                        (m)
 Plateau Gold Deposit
 23PLRC_Prop_001        460,164       7,740,590     326           270           -60                        100
 23PLRC_Prop_002        460,151       7,740,647     328           270           -60                        100
 23PLRC_Prop_003        460,203       7,740,684     326           0             -60                        100
 23PLRC_Prop_004        460,134       7,740,621     328           270           -60                        140
 23PLRC_Prop_007        459,776       7,740,190     294           300           -60                        75
 Cardigan Dam Prospect
 23CDRC_Prop_001        462,622       7,737,839     288           0             -60                        120
 23CDRC_Prop_002        462,704       7,737,809     288           40            -60                        100
 23CDRC_Prop_003        462,763       7,737,783     288           35            -60                        110
 23CDRC_Prop_004        462,390       7,737,439     288           60            -60                        120
 23CDRC_Prop_010        463,071       7,737,691     298           0             -60                        120
 Horse Creek Prospect
 23HCRC_Prop_001        460,333       7,742,456     288           270           -60                        100

 

Notes to Editors

 

Rockfire Resources plc (LON: ROCK) is a gold, base metal and critical mineral
exploration company, with a high-grade zinc/lead/silver/germanium deposit in
Greece and a portfolio of gold/copper/silver projects in Queensland Australia.

 

§ The Molaoi deposit in Greece has a JORC resource of 210,000 tonnes of zinc,
39,000 tonnes of lead and 3.5 million ounces of silver, using a 4% Zn cut off.

 

§ The Plateau deposit in Queensland has a JORC resource of 131,000 ounces of
gold and 800,000 ounces of silver, using a 0.5g/t Au cut off. 53,000 of these
ounces lie within the top 100m from surface.

 

§ The Copperhead deposit in Queensland has a JORC resource of 80,000 tonnes
of copper, 9,400 tonnes of molybdenum and 1.1 million ounces of silver, using
a 0.13% CuEq. cut off.

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