TIDMROCK
RNS Number : 1217N
Rockfire Resources PLC
28 September 2021
28 September 2021
Rockfire Resources plc
("Rockfire" or the "Company")
Copperhead Drilling Update
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to provide an update on its
exploration programme currently underway at the Company's
100%-owned Copperhead porphyry project ("Copperhead") in North
Queensland, Australia.
Highlights:
-- Drilling of the first two exploration holes is complete and a
third hole is currently in progress.
-- Rockfire's geologists are logging abundant, narrow,
mineralised veins throughout each hole, including veins hosting
both copper and molybdenum minerals.
-- Drillhole BCH001, the first hole, was drilled to 501.40 m and
copper-bearing veins have been recorded from 8.0 m to the end of
hole. Chalcopyrite (copper sulphide) veins are still being recorded
at 500.87 m.
-- Vein frequency varies through each hole, which is in line
with expectations from historical drill holes at Copperhead. The
frequency of veins bearing visible chalcopyrite fluctuates
dramatically throughout the hole, with some sections recording <
1 vein/m and other sections hosting up to 8 veins/m.
-- Multiple orientations of the copper-bearing veins are being
recorded, with the majority (but not all) chalcopyrite veins
striking west-northwest and northwest and dipping very steeply both
northeast and southwest.
-- At the bottom of hole BCH001, a weak increase in alteration
magnetite is observed and is likely to be the cause of a weakly
elevated magnetic response at depth.
-- Geotechnical and geological logging is well advanced and core
cutting and sampling is in progress. Rockfire will continue to
update the market with our progress, including results as they are
received for each hole.
Several example photographs of chalcopyrite-bearing veins from
the Copperhead drill core can be viewed by following the link
provided.
http://www.rns-pdf.londonstockexchange.com/rns/1217N_1-2021-9-27.pdf
David Price, Chief Executive Officer of Rockfire, comments:
"Drilling at Copperhead is progressing well. The geology and
mineralisation being observed in our first drillhole is in line
with the geological logs from drilling in 1972. Assays are pending,
however, so it would be premature to attempt to correlate copper
grades with historical drilling.
"Even without knowledge of the grades yet, the presence of the
copper sulphides throughout the hole and to a downhole depth of 500
m supports our belief for the potential of a large, mineralised
porphyry copper/molybdenum system.
"As each hole is drilled, important geological and structural
information is provided and our geologists are gaining a better
understanding of the deposit. More than 980 veins have been
recorded and measured in the first hole alone. This is critical for
targeting the source of the copper-bearing veins, which is beneath
our current drilling. Drilling remains in progress, with another
2-3 holes to be drilled over the coming months and, as usual, we
will continue to keep the market informed of this ongoing work
programme."
Qualified Person Statement:
Information in this announcement that relates to exploration
results is based on information compiled by Mr Edward Fry, the
Exploration Manager of Rockfire Resources plc, who is a Member of
the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr
Fry has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which has been undertaken to qualify as a Competent Person
as defined by the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves (the JORC Code) and a "Qualified Person" in accordance
with the AIM Rules Guidance Note for Mining and Oil & Gas
Companies. Mr Fry consents to the inclusion in the announcement of
the matters based on their information in the form and context in
which it appears.
For further information on the Company, please visit
www.rockfireresources.com or contact the following:
Rockfire Resources plc: info@rockfireresources.com
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Tel: +44 (0) 20 3328
Adviser & Broker) 5656
John Depasquale / George Payne (Corporate
Finance)
Matt Butlin / Kelly Gardner (Sales
and Corporate Broking)
Yellow Jersey rockfire@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
Notes to Editors
Rockfire Resources plc (LON: ROCK) is an exploration company
with a portfolio of 100%-owned near-surface gold and large-scale
copper projects in Queensland, Australia. Each of the gold projects
are located within 50 km of operating gold mines and the Company's
copper projects lie within 250 km of Australia's largest copper
refinery.
The Company's flagship project, the Plateau Gold Deposit, is
part of the Lighthouse Tenement, and bears significant geological
similarities to the nearby Mt Wright gold mine (45km to the
northeast), where 1.5 million ounces of gold have been mined. More
than 14,000 m have been drilled within the Lighthouse tenement.
Drilling to date at the Company's copper projects, Copperhead
and Copper Dome (35 km and 85 km southwest of the town of
Proserpine respectively), are indicative of large-scale porphyry
targets. Both projects have been drilled by previous explorers but
remain under-explored, leading the Board to believe that they
demonstrate significant exploration upside potential.
Rockfire Resources has adopted a strategy of growth based on
advancing exploration across its existing portfolio of projects, as
well as the continual assessment of opportunities to acquire
outstanding strategic mineral projects worldwide.
The Company is led by a highly skilled management team, with a
proven track record in exploring and discovering projects.
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END
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