Rockfire Resources PLC (LON:ROCK) has commenced drilling at the Plateau gold deposit in North Queensland, Australia.

“We’re excited to start drilling at Plateau as this presents a great opportunity for Rockfire to potentially discover a very large gold deposit,” said chief executive David Price.

READ: Rockfire Resources tops up cash to expand Plateau gold prospect

The AIM-listed explorer wants to move the inferred gold resource of 40,400 ounces announced in the summer into the more certain measured and indicated categories and also to extend the size of the resource.

The new operations will test new targets and a “geophysical anomaly” Rockfire said was identified by reprocessing historical data.

Plateau is the most advanced prospect in the Lighthouse tenement, where the firm started exploring in 2017.

The tenement also includes Double-Event, which is 30km from Plateau.

Shares were up 23% at 0.33p on Friday afternoon.