TIDMROCK
Rockfire Resources PLC
24 March 2021
REACH
24 March 2021
Rockfire Resources plc
("Rockfire" or the "Company")
Helicopter surveys commence at Copper Dome
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to announce that a
helicopter-supported aeromagnetic survey and a radiometric survey
have commenced at the Company's 100%-owned Copper Dome porphyry
copper project in North Queensland, Australia .
Today, the helicopter arrived at the survey site, where the
flight crew conducted a reconnaissance flight to check terrain,
optimal flight altitudes, survey equipment registration and general
orientation in the survey area. The survey is expected to commence
on Thursday, 25 March 2021.
David Price, Chief Executive Officer of Rockfire, commented:
"The Company has kicked off its 2021 field season with a
high-impact and exciting helicopter aeromagnetic and radiometric
survey at Copper Dome. We expect the geophysical surveys to provide
important information about faults and other structures which are
not readily observable at surface.
"Magnetic surveys provide information about the magnetic
properties of each rock type. Radiometrics is a measure of the
radiation emitted by various rock types and soil types and
comprises measurements for uranium, thorium and potassium. The
variations between the three elements provides indications to
individual geological units and hydrothermal alteration.
"The flying is expected to be completed in a matter of days.
Prior to receiving the results, the raw data is normalised,
processed and interpreted by the geophysicists, so the Company
anticipates the final results within the next two weeks. The market
will be informed once these results are available."
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 / Asha Chotai (Corporate
Finance)
Matt Butlin / Guy McDougall (Equity
Sales)
Yellow Jersey rockfire@yellowjerseypr.com
Sarah Hollins / Henry Wilkinson Tel: +44 (0) 20 3004
9512
About Copper Dome
Under its historical name of "Mt Leslie", Copper Dome is listed
in the "Global Mineral Resource Assessment", published in 2010 by
the US Geological Survey and forms an integral part of Rockfire's
porphyry copper portfolio. Copper Dome lies approximately 50 km to
the southwest of Rockfire's other porphyry copper prospect,
Copperhead and was discovered during regional exploration for
porphyry copper deposits along the east coast of Australia during
the early 1970's.
In 1972, Australian Selection Pty. Ltd. drilled three percussion
drill holes and six diamond drill holes, totalling 1,297 m. All the
drill holes were drilled vertical and all holes intersected
geological/alteration features which are indicative of a
large-scale porphyry deposit. Best results from this drilling
include 12m @ 0.61 % Cu (including 3m @ 1.24 % Cu), 15m @ 0.88 % Cu
(including 5m @ 2.28 % Cu), 24m @ 0.27 % Cu, 12m @ 0.17 % Cu and
38m @ 0.13 % Cu.
Only sporadic gold analysis was done, with gold values peaking
at 1.86 g/t Au. This indicates the potential for the porphyry
system to contain a significant gold component.
Between 1984 and 1985, Renison Limited resampled some of the
historical Australian Selection drill core for gold which returned
strongly anomalous results including 51m @ 0.2g/t Au, which is very
much in line with expectations for large-scale porphyry
systems.
Rock sampling by Renison focussed on faults close to historical
copper workings. The best rock sampling results included 5.4 % Cu
(0.41 g/t Au), 1.8 % Cu (13 g/t Au), 0.19 % Cu (2.45 g/t Au), 1.5 %
Cu (0.2g/t Au) and 1.8 % Cu.
The exploration potential at Copper Dome is considered high.
Brecciation and faulting is common and copper/gold mineralisation
has been recorded within most of the rock units. The intrusions and
alteration zones span an area which is 2 km long by 1 km wide, with
the dominant alteration assemblage being quartz-sericite-pyrite.
The geological model adopted for this project shows a pyrite-rich
phyllic shell around the edges of a typical porphyry system. The
phyllic shell hosts an average of 5 % (and up to 10 %) disseminated
pyrite recorded in the historical geological drill logs.
Rockfire has undertaken rock sampling (See RNS dated 22nd March
2019), with rock samples returning maximum grades of 23.4 % Cu, 3.2
g/t Au and 952 g/t Ag. Nearly a quarter of all rock samples assayed
above 0.5 g/t Au, above 5 g/t Ag and above 0.1% Cu. Very high-grade
copper, gold and silver rock samples define ridges radiating from
the mapped centre of the porphyry system, with potential for
high-grade, vein-hosted mineralisation in addition to
porphyry-hosted mineralisation.
Rockfire also completed soil sampling (See RNS dated 22nd May),
with elevated copper-in-soil occurring over a coherent area
approximately 500m x 300m, confirming potential for large tonnage.
Soil results up to 1,115 ppm (0.11%) Cu and 145 ppb (0.15 ppm) Au
were obtained during the soil sampling programme.
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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