TIDMROCK
RNS Number : 8125Q
Rockfire Resources PLC
01 November 2021
1 November 2021
Rockfire Resources plc
("Rockfire" or the "Company")
Over 1200 copper veins recorded at Copperhead
Copper and molybdenum-bearing veins encountered in all four
holes drilled
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to provide an update on its diamond
drilling programme currently underway at the Company's 100%-owned
Copperhead porphyry project ("Copperhead") in North Queensland,
Australia.
Highlights:
-- More than 1200 veins containing chalcopyrite (copper) have
been recorded in core from the first three holes.
-- Veins bearing copper and molybdenum sulphides have been
encountered in all four holes completed to date.
-- Individual copper-bearing veins range in width from 1 mm to
2.5 cm and occur up to 6 veins per metre.
-- Classic quartz/sericite/pyrite (phyllic) alteration is
associated with the copper-bearing veins in all holes, indicative
of the upper levels of a porphyry system.
-- Geology and veining in the drill cores indicate that drilling
is occurring within the upper levels above a large porphyry copper
system. This is consistent with an opinion obtained from an expert
in porphyry copper deposits regarding our current drilling.
-- The entire lengths of hole BCH001 (501.40 m) and BCH002
(359.0 m) have been submitted to the laboratory for analysis and
results are pending.
-- Core logging is well advanced on hole BCH003. Logging of the
core involves the measurement of an extreme number of
copper-bearing veins. These measurements are essential in locating
the source of the copper.
-- As a result of our increasing knowledge of the deposit, the
fifth cored drill hole (BCH005), which is currently in progress
will be the deepest hole drilled into the system to date.
-- On-going drilling is targeting the discovery of the main
porphyry source as the Company drills deeper into the mountain.
Several 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/8125Q_1-2021-10-31.pdf
David Price, Chief Executive Officer of Rockfire, comments:
"It is promising to see the vast quantity of
quartz/sericite/pyrite/chalcopyrite veins in the core. These are
critical components of porphyry geochemistry, indicating that the
drilling is occurring within the upper levels of a large porphyry
system. Copper being encountered in the drill holes has risen from
depth, through fractures, from a large, mineralised porphyry lying
beneath the current drilling depth.
"Until now, the core has been dominated by frequent
quartz/sericite/pyrite/chalcopyrite (phyllic) veins in the first
three drill holes. Hole BCH004 shows an increase in potassic
alteration, including K-feldspar clay alteration, and zones of
magnetite alteration. This is an excellent change in alteration and
geochemistry which allows us to develop zonation models and
provides the technical team with vectors towards potentially
higher-grade parts of the porphyry system.
"With each hole drilled, our knowledge of the Copperhead
porphyry system is increasing. Structural recordings of copper and
molybdenum-bearing veins are providing information and vectors for
planned future holes. We will continue to keep the market informed
of our ongoing drilling."
Hole
ID UTM E UTM N Zone RL (m) Azi (mag) Dip (deg) EOH (m)
======== ======= ======== ===== ======= ========== ========== ========
BCH001 635530 7728209 55 458 32 -55 501.40
BCH002 635676 7728209 55 482 212 -55 359.00
BCH003 635676 7728209 55 482 32 -55 428.90
BCH004 635473 7728208 55 449 22 -60 384.00
BCH005 635619 7728040 55 455 42 -70 IP
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 (Corporate Finance)
Matt Butlin (Equity Sales)
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 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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