Business
Brigalow Goldfield increases Kookaburra potential
Brigalow Goldfield increases Kookaburra potential.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9611J Rockfire Resources PLC 22 August 2019 \n\n22 August 2019\nRockfire Resources plc\n(\"Rockfire\", \"the Company\" or \"the Group\")\n \nBrigalow Goldfield increases Kookaburra potential\n \nThe Board of Rockfire Resources plc (LON: ROCK) the gold and base metal exploration company, is pleased to provide an update on the Company's on-going regional asset assessment. As previously announced, the Company is strongly focussed on its core assets at Lighthouse and Copperhead in Queensland, Australia, and background work continues at each of the Company's assets to deliver exploration success for shareholders.\n \nRockfire's technical team has been undertaking an assessment of the historical work at the Company's 100% owned Kookaburra tenement, which surrounds Rockfire's Lighthouse tenement. Historical exploration work at Kookaburra, including trenching and bulk sampling, identified a substantial alluvial gold deposit, known as the 'Brigalow Alluvial Goldfield'. Rockfire sees this as a high-potential opportunity to discover the hard-rock source either beneath or upstream of this large quantity of alluvial gold. The presence of the Brigalow Alluvial Goldfield highlights the prospectivity of the Kookaburra licence and could significantly increase the Company's gold inventory in Queensland.\n \n \n· The alluvial gold is mostly found at surface, with a maximum depth of 6m in some zones;\n· Pre-JORC calculations in 1986 estimated 387,000 LCM (loose cubic metres), grading 0.42 grams/LCM** for total gold content of 5,286 ounces** estimated by bulk sampling;\n· Alluvial gold mines operate profitably down to grades of 0.2 g/LCM but grades vary markedly;\n· 1986 saw bulk-testing at 20 sites within Kookaburra using a D7 bulldozer, frontend loader and a dump truck. Gold was processed using a trommel and jig plant and producing a gold concentrate;\n· The mapped limits of potholing/shafting activity define a target volume of 3.9 million LCM, with an anticipated grade range of 0.25 g/LCM to 0.35 g/LCM. This would result in the delineation of 31,000 - 43,000 ounces** of gold;\n· The hard rock source of this alluvial gold has not been discovered and pr...