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Gold-in-soil anomaly identified at Jeddah Gold Prospect
StockMarketWire.com
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Gold and base metal exploration company, Rockfire Resources, has announced that a gold-in-soil anomaly has been identified from soil sampling at the Jeddah Gold Prospect.
The company has said that a 'cohesive gold anomaly has now been detected by soil sampling at Jeddah', covering an area of 250m (east-west), by 150m (north-south).
The anomaly is defined by a low-order zone of + 10 ppb Au, with a peak value of 62 ppb Au and is open towards the south. The Company plans to extend soil sampling in that direction.
In May 2018, Rockfire announced high-grade continuous rock chip samples at Jeddah, including 10m@ 1.68 g/t Au and 8m@ 1.23 g/t Au.
Located within the Company's 100%-owned Lighthouse tenement in North Queensland, Australia, Jeddah is an early-stage prospect, requiring grass-roots-style exploration, including geological/structural mapping, extension of the soil sampling and a ground magnetic survey.
David Price, CEO of Rockfire, said: 'Our exploration work continues to generate and upgrade our exploration targets within the Lighthouse tenement. As more exploration is completed, our team assigns a priority ranking to our numerous prospects, enabling efficient and cost-effective exploration.
'Being so close to Plateau, Jeddah provides an excellent prospect, particularly as epithermal textures in quartz veins have been mapped. The neighbouring Pajingo Gold Mine, which has produced more than three million ounces of gold, lies 25 km southwest of Jeddah and is an epithermal gold deposit.'
Rockfire has confirmed it will continue to focus on the Plateau deposit in the near-term, following the significant Mineral Resource upgrade announced in January 2021.
'Our regional exploration work is continuing, including a 3-dimensional magnetic analysis of the Copperhead porphyry copper project, also in Queensland. We look forward to updating the market of our progress on these activities in due course,' MR Price added.
At 1:28pm: (LON:ROCK) Rockfire Resources Plc Ord 0.1p share price was 0p at 0.83p
Story provided by StockMarketWire.com
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