Material increase to exploration portfolio

By August 13, 2018news

Rockfire Resources plc
(“ROCK” or “the Company”)
Material increase to exploration portfolio

Rockfire Resources (LON: ROCK) is pleased to inform shareholders that the Kookaburra Exploration Permit to Mine (EPM 26705’Kookaburra’) in Queensland, Australia has been granted to Rockfire through its 100%-owned subsidiary, BGM Investments Pty Ltd. The grant of Kookaburra adds material acerage to Rockfire’s already significant ground-holding in a district which has produced more than 20 million ounces of gold and continues to produce from three operating, multi-million-ounce gold mines.

 Highlights:

  • The western extensions of Double Event are now under Rockfire control;
  • The granted tenement includes the Brigalow alluvial goldfield;
  • Previous RC drilling at Kookaburra Prospect includes 12m @ 2.72g/t Au and 3m @ 5.13g/t Au;
  • Five (5) additional old gold workings added to ROCK portfolio;
  • Kookaburra adds a further 232 sq. kms of gold and copper prospectivity to the ROCK porfolio
  • Kookaburra exploration tenement granted to Rockfire for a 5-year period

 The Queensland Government has granted Exploration Licence EPM26705 “Kookaburra” to Rockfire Resources, through it’s wholly-owned Australian subsidiary for a period of 5 years. Kookaburra surrounds Rockfire’s Lighthouse tenement, south of Charters Towers and adds significant exploration prospectivity to the company’s portfolio of valuable gold tenements in Queensland. A map showing the exciting exploration upside of Kookaburra can be accessed via the link below.

 http://www.rns-pdf.londonstockexchange.com/rns/5850X_1-2018-8-13.pdf

 Chief Executive Officer of Rockfire Resources, David Price commented: “We have been looking forward to Kookaburra being granted, as this tenement adds significant upside to Double Event, with the western extension of the lode now under Rockfire control.”

“As an added bonus, Kookaburra includes an alluvial deep-lead (ancient) river bed, with abundant workings along the length of the gold-bearing river gravels. Although notoriously difficult to attain JORC resources, the gold included in this ancient channel may provide a vector towards the source of the river-hosted gold”.

“Kookaburra Prospect itself is not alluvial in nature and has been drilled by previous explorers and robust, high-grade intercepts of gold have been encountered including 12m @ 2.72g/t Au close to surface. The addition of Kookaburra to the tenement portfolio of Rockfire provides additional opportunity for discovery of resources in a district of bountiful gold endowment.”

Numerous old gold workings occur within the Kookaburra tenement, including Kookaburra Prospect, the Brigalow alluvial Goldfield, Native Bee Prospect and the Coolan Deposits. The recent, successful Placement by Rockfire will focus the Company’s immediate exploration efforts on drilling at Marengo and Double Event, however Rockfire will advance the Kookaburra tenement with an initial rock and soil sampling program and ground-based geophysics to test the prospects at shallow depths.

 This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company’s obligations under Article 17 of those Regulations.

For further information on the Company, please visit www.rockfireresources.com or contact the following:

Rockfire Resources PLC

David Price, Chief Executive Officer

 

Email: david@rockfireresources.com

 

Cenkos Securities plc

(Nominated Adviser & Joint Broker)

Derrick Lee / Beth McKiernan

 

Tel: +44 (0)131 220 6939

 

First Equity Limited

(Joint Broker)

Tel: +44 (0)20 7374 2212

Jason Robertson