TIDMROCK
RNS Number : 4189V
Rockfire Resources PLC
14 April 2021
14 April 2021
Rockfire Resources plc
("Rockfire" or the "Company")
Geophysical survey significantly increases Copper Dome
target
Rockfire Resources plc (LON: ROCK), the gold and base metal
exploration company, is pleased to announce that a
helicopter-supported geophysical survey has returned a much larger
target than originally thought at the Company's 100%-owned Copper
Dome porphyry copper project ("Copper Dome") in North Queensland,
Australia.
Highlights:
-- A recent geophysical magnetic survey has resulted in high
resolution images, with the magnetic data offering a detailed
insight into the geology and structure beneath the dome, which had
previously not been possible at Copper Dome.
-- The revised target, based on the new aeromagnetic signature,
has increased significantly in area from 1 km x 2 km to a much
larger area of 4 km x 3.5 km.
-- At least three separate intrusions are evident. With one
intrusion having been historically drilled and copper found, this
adds significant potential for the discovery of copper and gold
associated with the additional two intrusions.
-- Previous drilling had focussed on only one of the three
intrusions. Shallow, historical drilling results include 15 m @ 0.9
% Cu, 12 m @ 0.6 % Cu and 24 m @ 0.3 % Cu. Only sporadic gold
analysis was done, with a peak gold value of 1.86 g/t Au in
drilling.
-- Abundant structures, including faults (and possibly veins)
have been identified, providing a greater understanding of the
structural setting for the emplacement of the porphyries.
-- A three-dimensional interpretation has been commissioned to
determine the characteristics of the magnetic response at
depth.
-- Reverse circulation drilling is planned for Copper Dome and
quotes are currently being obtained to establish access tracks and
for drilling.
The following link is a composite image showing the original
government aeromagnetic image, the new Reduced to Pole (RTP) image
and the new First Vertical Derivative (1VD) image.
http://www.rns-pdf.londonstockexchange.com/rns/4189V_1-2021-4-14.pdf
David Price, Chief Executive Officer of Rockfire, comments:
"Management was looking forward to viewing the magnetic data
from Copper Dome and we are very pleased to see the high definition
being resolved in the imagery, indicating a significantly larger
target than originally thought. What is particularly exciting is
the identification of what appears to be multiple plumes intruding
upwards towards the surface, with only one of these having been
drill tested to date. Importantly, the surface geochemistry shows
copper anomalism above or proximal to all three intrusions. This
provides potential for a much larger mineralised system to be
discovered.
"Rockfire has recently commissioned a 3D interpretation of the
magnetic data. This interpretive work is expected to provide
possible dips and plunges towards a source at depth and is designed
to assist drill targeting at depth. We are eagerly awaiting the
results of this work.
"In 1972, six diamond drill holes and three reverse circulation
holes were drilled at Copper Dome and very promising copper and
gold intervals were intersected. Some of these holes were
terminated prematurely in mineralisation due to bad ground
conditions, but results still indicated the potential for a very
large mineralised system.
"Rockfire's field season for 2021 includes reverse circulation
drilling at Copper Dome and a comprehensive programme is planned to
test all three intrusions over the next six months. At this stage,
20 drill holes are planned and track access into the centre of the
dome is currently being arranged. We look forward to updating t he
market when we receive the results of our 3D interpretation and at
the commencement of our drilling programme at Copper Dome."
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 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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