Shares of Rockfire Resources PLC (LON: ROCK) today surged 48.7% after the company reported that it had struck a ‘very long' interval of gold at the Plateau deposit in North Queensland, Australia.
A second hole at the project had returned the largest gold intersection so far at Plateau, with mineralisation over the entire sampled interval of 341.3 metres, at 0.2 grams per tonne of gold.
Rockfire said: “Every hole drilled so far at Plateau has intersected varying grades of gold mineralisation, and often over vast intervals,”
“The extent of the mineralisation is particularly pleasing for the company and provides further evidence that the Plateau gold deposit is an exceptionally large mineralised system.”
The latest finds are extremely bullish for the company over the long-term given the rising global oil prices, which could see its revenues surge significantly over the next few years.
Rockfire Resources share price
Rockfire Resources share price today surged 48.7% to trade at 1.30p having rallied from Monday’s closing price of 0.874p.