Rockfire Resources (AIM:ROCK), the AIM-listed gold, base metal and critical mineral explorer, has relayed an exploration update from Eastern Resources at the Marengo Goldfield in Queensland, Australia, where recently collected rock chip samples returned grades as high as 12.3 g/t gold.
Of the samples collected, 20 exceeded 1.0 g/t gold, and 13 exceeded 5.0 g/t, with five individual samples returning above 8.0 g/t gold alongside silver values reaching more than 100 g/t. The results are said to confirm gold-silver mineralisation close to the surface within shallow high-grade quartz veins.
Eastern Resources (ASX: EFE), an ASX-listed company, entered a binding farm-in agreement with Rockfire in September 2025 under which it is sole-funding exploration at Marengo over three years against minimum expenditure commitments of A$250,000, A$500,000 and A$750,000 across successive annual stages, totalling A$1.5 million.
On meeting each stage, Eastern earns 20%, then a further 31%, then a further 29% of the tenement, reaching 80% once all expenditure has been met, at which point the two parties would jointly fund the project under a formal joint venture agreement.
