Rockfire Resources, the gold, copper, and silver exploration company, has seen a significant jump in share price since releasing the news that their Reverse Circulation drilling at the Double Event Prospect in Queensland intersected "bonanza" grade gold up to 26.90g/t gold. As of 10:30am this morning, share prices had increased nearly 20% to 1.4p.
The drilling has defined 300m more of mineralised strike at Double Event, a part of the company’s 100%-owned Lighthouse project situated in one of the most productive structural corridors on Australia’s east coast.
Gold was intersected in all but one hole. Three of the holes containing gold were drilled over the Lighthouse boundary, resulting in over 4.5km of of mineralised strike length. Results showed high gold values including 5m at 6.39g/t gold including 3m at 10.04 g/t gold and 1m at 26.9g/t gold.
This drilling campaign was aimed at exploring the project’s western front where numerous historical workings have been previously recorded. Given this track record, the western extension of Double Event had been thought to spill over the Lighthouse tenement boundary and onto the adjacent Kookaburra; so, Rockfire applied for and was recently granted a Kookaburra licence which it believes will prove “to be a strategic and important accumulation of ground.”
With these positive results, Rockfire plans to conduct more ground-based exploration to further define the extent of the bonanza-grade gold and increase investor confidence in the sited drill holes in the future.
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