Rockfire Resources stock rises as gold and silver found in Australia
Rockfire Resources PLC on Friday shared drill results from its Australian partner Sunshine Metals Ltd, which reported ‘encouraging’ gold and silver findings.
Rockfire shares were up 17% at 0.11 pence on Friday morning in London.
The London-based mining firm has a farm-in agreement with Queensland, Australia-based Sunshine, which allows Sunshine to earn up to 75% tenement in Rockfire’s Lighthouse tenement, by expenditure of A$2.2 million over three years.
Sunshine drilled eight holes at the Plateau prospect across a total of 599 metres. The highest-yielding hole found 6.97 grammes of gold per tonne and 84 grammes of silver per tonne, across two metres.
A sample has been collected for testing. The results will be included in an updated resource model for Plateau, due late 2025.
Chief Executive David Price commented: ‘Sunshine continues to increase its knowledge of the Plateau prospect and it is pleasing to read that Plateau is being considered as part of Sunshine’s ambition to commence near-term, open cut gold mining.’
Price noted that Rockfire’s main focus remains the Molaoi project in Greece, where it is currently seeking drill permission.
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