TIDMROCK
RNS Number : 0945U
Rockfire Resources PLC
31 March 2021
31 March 2021
Rockfire Resources plc
("Rockfire" or the "Company")
High-grade gold results expand Bell Rock prospect
New Copper prospect confirmed at Lighthouse
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to provide the following
exploration update on the Company's 100%-owned Lighthouse tenement
in North Queensland, Australia .
Lighthouse - Bell Rock Gold Prospect:
-- Ten rock chip samples taken from Bell Rock (3.5 km southeast
of Plateau) have returned high-grade gold results, including 9.9
g/t, 5.2 g/t, 5.0 g/t and 4.1 g/t Au.
-- Previous sampling by Rockfire in May 2020 returned
gold-in-rock results up to 23.4 g/t Au and the recent sampling has
extended this anomalism by a further 100 m in length, resulting in
a total target length of 350 m.
-- Soil sampling has since been completed to extend the
anomalism towards the northeast and assay results are pending.
-- High-resolution ground magnetics are currently underway at
Bell Rock to highlight faults and other structures and to define
drilling targets.
Lighthouse - Otway Copper Prospect:
-- Ten rock chip samples from a new copper prospect, "Otway",
which lies approximately 4.5 km northwest of Plateau, have returned
highly anomalous results, including 0.25 % Cu and 0.28 % Co.
-- One rock sample has an elevated nickel value of 817 ppm Ni,
whilst two other rock samples contain nickel above 100 pm Ni. There
is an early suggestion that the mineralising system could
potentially be a Cu, Ni, Co target, however further work is
required to confirm this concept.
-- Future work planned at Otway will include soil sampling to
determine the extent of the mineralisation away from the mapped
rock outcrops.
The following link provides a map showing the location of each
of the prospects in relation to the Plateau Gold Deposit.
http://www.rns-pdf.londonstockexchange.com/rns/0945U_1-2021-3-31.pdf
David Price, Chief Executive Officer of Rockfire, commented:
"The receipt of multiple, highly encouraging rock sample results
from Bell Rock, including one sample of 9.9 g/t Au and 21 g/t Ag is
an exciting advancement of the prospect. The target remains open to
the east and west and extension of the soil grid towards the
northeast has recently been completed. Results are awaited from
this soil sampling work.
"A new copper prospect within the Lighthouse tenement, called
"Otway", was identified from structural interpretation by
Rockfire's geologists. This prospect lies approximately 4.5 km
northwest of Plateau and has anomalous copper in historical stream
sediment sample results. During Rockfire's first exploration visit
to conduct mapping and sampling, one rock sample returned 0.25 %
copper and a highly unexpected result of 0.28 % cobalt. Three other
rock samples returned elevated copper above 300 ppm Cu. Further
work is needed to understand the geology of this early-stage
prospect.
"Rockfire is rapidly advancing its exploration at the Lighthouse
tenement and results from our field season will be announced as
work progresses."
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 / Guy McDougall (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 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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