Business
Scoping Results
Scoping Results.
About this update from Rockfire Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7261U\n Rockfire Resources PLC\n 08 April 2021\n \n \n \n 08 April 2021\n Rockfire Resources plc\n (\"Rockfire\" or the \"Company\")Positive Scoping Study at Plateau paves way for expansion \n \n \n Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to announce that a Preliminary Scoping Study has returned positive results for a small-scale, open pit mining operation at the Company's 100%-owned Plateau Gold Deposit (\"Plateau\") in North Queensland, Australia. This study lays solid foundations for in-fill and extension drilling, which is expected to result in an expanded Scoping Study later in 2021.\n \n Preliminary Scoping Study Results:\n \n \n · A modest, net positive cash flow, ranging from AUD $6.8m to AUD $19.4m (GBP £3.7m to GBP £10.7m), results from a small-scale, open pit mine. The range of anticipated cash flows dependents on technical and operational variables, however five differing scenarios all resulted in positive cash flow outcomes.\n \n \n · Multiple targets within the proposed pit outlines are yet to be drilled and the Scoping Study has identified numerous opportunities to increase gold ounces with additional shallow drilling.\n \n \n · Only the top 70 m has been incorporated into the Scoping Study, yet gold up to 16.9 g/t Au has been intersected more than 400 m below surface. There is therefore significant potential to increase the economic outlook of the project based on continued exploration success at depth.\n \n \n · The study assumes utilisation of one of the nearby existing processing facilities. There are several processing plants within commercial trucking distances of Plateau and, for this reason, capital costs are deemed to be minimal.\n \n \n · 69% of the scoped production originates from JORC Indicated Resources from both the Central and Eastern Breccias.\n \n \n · Average mined grades range between 1.26 g/t Au and 1.94 g/t Au from within the optimised pit outlines, with grade variations depending on the pit shape and depth.\n \n \n · A spot gold price of AUD$ 2,220 (US$ 1,718) per ounce was used and the current study excludes any contribution from recovery of silver.\n \n \n · Metallurgical test work will form part of the next drilling phase to provide important information regarding t...