TIDMROCK
RNS Number : 2423Y
Rockfire Resources PLC
07 September 2020
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information for the purposes of Article 7 under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR"). With the publication of this
announcement, this information is now considered to be in the
public domain.
7 September 2020
Rockfire Resources plc
("Rockfire" or the "Company")
Exploration Update
Rockfire Resources plc (LON: ROCK) the gold and base metal
exploration company, is pleased to provide an update on diamond
drilling activities at the Plateau Gold Deposit ("Plateau") and
progress on geophysical surveys planned for Copperhead and Copper
Dome, all 100%-owned by Rockfire in North Queensland,
Australia.
Highlights:
-- Five diamond drill holes have been completed to date, with
the sixth hole expected to be completed within the coming
weeks.
-- A variety of sulphides are observed in all the drill holes,
with percentages varying from trace amounts to levels exceeding 40%
of the rock.
-- Rocks being encountered at levels approaching 500 m vertical
depth are strongly altered and strongly mineralised with sulphides
within the breccia system.
-- Core samples from two diamond drill holes have been submitted
to the laboratory, with assay results back from the first hole,
being an extension of an existing reverse circulation ("RC") hole.
Results for the remaining five drill holes are awaited and will be
announced once they are received from the laboratory.
-- BPL028 was an RC hole drilled in January 2020 at the eastern
extremity of the gold zone. This hole ended with 1.7 g/t Au in the
very last sample at the bottom of the hole at 251 m depth. BPL028
has been extended deeper with a diamond tail and has encountered
more broad, low grade gold mineralisation, including an additional
110.54 m @ 0.2 g/t Au (from 337 m) and including an interval of
47.62 m @ 0.3 g/t Au (from 367 m).
-- Individual narrow intervals in hole BPL028 peak at 3.43 g/t
Au and 5.03 g/t Au at vertical depths of 263 m and 377 m
respectively. This hole indicates that the gold mineralising system
remains active, open and prospective at depths approaching 400 m
from surface.
-- Drill hole BPL028 also encountered elevated silver and zinc intervals, including:
-- 86.57m @ 5.5 g/t Ag (from 361.41 m) including 6.09 m @ 16.5
g/t Ag (from 388.66 m).
-- The peak silver value is 52.7 g/t Ag.
-- 196 m @ 0.50 % Zn (from 250 m), including 19.23 m @ 1.05 % Zn
from 381.73.
-- The peak zinc value is 4.32 % Zn.
-- Drill hole BPL033 was designed primarily to provide
confirmation of the dip of the rhyolite/andesite contact at depth
and was drilled from south to north i.e. in the opposite direction
to all other holes. The hole intersected several unexpected
sulphide-rich shear zones, which are interpreted to be splaying off
the main breccia complex. The hole also confirmed that our
principle drilling direction from north to south is correct and
valid.
-- Exploration work at our other projects continues
simultaneously and quotes have now been received from the preferred
contractor responsible for helicopter-supported magnetic surveys
currently being planned for the Company's two porphyry copper
projects, Copperhead and Copper Dome. These surveys are scheduled
to commence in the coming months.
A detailed photo of some of the sulphides being intersected in
core is provided in the following link. This photo is from hole
BPL040 at a depth of 624.60 m. Assay results are awaited.
http://www.rns-pdf.londonstockexchange.com/rns/2423Y_1-2020-9-7.pdf
David Price, Chief Executive Officer of Rockfire commented:
"Our Phase 2 drilling programme at Plateau is progressing well
and a lot of new information is being collected with each drill
hole. Interestingly, each drill hole has intersected very different
styles of sulphide mineralisation; some dominated by pyrite, others
dominated by sphalerite (zinc) and pyrrhotite (a magnetic sulphide)
and some containing a mix of various sulphides."
"Our first diamond drill hole, BPL028, was an opportunity to
extend an RC hole which finished at
251 m in elevated gold mineralisation (1.7 g/t Au). The
extension intersected further broad, low-grade gold and elevated
silver and zinc. Individual narrow intervals of higher-grade gold
(5.03 g/t Au) were encountered at depth. The hole is strongly
altered and strongly mineralised by sulphides, indicating that the
system remains highly active at depths of around 400 m below
surface. This hole has expanded the low-grade mineralised envelope
and provided encouragement that higher grades (above 5.0g/t Au),
although narrow, are still being encountered at depth."
"Our initial schedule of six holes within our Phase 2 drilling
programme is nearing completion. The drilling rig is expected to be
released upon completion of Phase 2, allowing time for detailed
data collection, return of assay results and modelling to assist
planning for Phase 3 drilling. Phase 3 is expected to test down to
750 m vertical depth, assuming success from the Phase 2
programme."
"Rockfire is also preparing for a helicopter-supported
aeromagnetic survey over both the Copperhead and Copper Dome
porphyry copper projects. At this point in time, the geophysical
contractor is anticipating a start to our surveys in the coming
months."
"The Company is awaiting the results from our current Phase 2
diamond drilling and w e look forward to updating the market as our
results are received."
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
Corporate Finance: John Depasquale
/ Asha Chotai
Equity Sales: Matt Butlin / Guy McDougall
Yellow Jersey rockfire@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson / Faye Tel: +44 (0) 20 3004
Calow 9512
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.
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