TIDMROCK
RNS Number : 8952C
Rockfire Resources PLC
24 June 2021
24 June 2021
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 to its
exploration programmes currently underway at the Company's
100%-owned gold and copper projects in North Queensland,
Australia.
Copper Highlights:
-- Access track and drill pad preparation is well underway at
the Copperhead porphyry project ("Copperhead") in preparation for
diamond drilling. The project has not been subjected to drilling
for nearly 50 years and Rockfire is redeveloping the original
access tracks used for historical drilling.
-- The commencement date for drilling is determined by the
completion of the access tracks. The drilling supervisor is
arriving on site next week to assess logistics, water availability
and to check rig access. The drill rig is track-mounted, making
access easier and resulting in smaller drill pads being
required.
-- Several kilometres from the actual drilling site, Rockfire
geologists are observing weathered sulphides in fractures and veins
within the intrusions as the access track progresses up the ridge
towards the drill sites.
-- A landowner access agreement (one of the steps required for
all exploration programmes in Queensland), is being negotiated at
the Copper Dome porphyry project ("Copper Dome") in preparation for
diamond drilling.
Gold Highlights:
-- A high-definition gravity survey is in progress at the
Plateau gold deposit ("Plateau"), part of the Lighthouse tenement.
This survey is designed to detect concentrations of sulphides at
depth, beneath the 1.4 million tonnes @ 1.20 g/t Au already
discovered in the top 100 m from surface at Plateau. Approximately
70% of this survey is complete.
-- Extension soil sampling has been completed at the Bell Rock
gold prospect ("Bell Rock"), which also lies within the Lighthouse
tenement and is 3.5 km southeast of Plateau.
-- Soil samples from Bell Rock have returned high gold-in-soil
values up to 0.4 g/t Au. The highest silver value in the soils is
2.3 g/t Ag and maximum copper value is 466 ppm Cu. These results
outline a second, coherent trend, with dimensions of 100 m wide and
+350 m long and open along strike.
A photograph showing the progress of the reestablishment of the
old access track at Copperhead can be viewed by following the link
provided.
http://www.rns-pdf.londonstockexchange.com/rns/8952C_1-2021-6-23.pdf
David Price, Chief Executive Officer of Rockfire, comments:
"Our preparation for diamond drilling at Copperhead is
progressing well with access track reestablishment well underway.
Drill rig mobilisation is anticipated as soon as the access tracks
and drill pads have been completed. In the meantime, a camp, core
yard and logistical base has been established in anticipation for
drilling.
"It is encouraging to see sulphides in veins up to 3 km away
from the drill site. In historical geological reports, it is quoted
that "Numerous limonite-filled fractures with goethite are
observed....at a distance of 1 km or so (from the centre of the
deposit), joint/vein density is reduced from 12-14 veins per metre,
to 1-2 veins per metre." This is precisely what the Rockfire
geologists are currently observing along the freshly established
access track as we approach the deposit.
"Our regional exploration programmes continue to progress and
the results from recent soil sampling at Bell Rock are pleasing.
The gravity survey at Plateau is progressing well and should be
completed within the next two weeks. This survey is aimed at
testing for a gravity anomaly at depth beneath Plateau, which may
indicate a source for the gold already found there. Any gravity
anomaly detected is likely to become a priority drilling
target.
"Discussions and negotiations with the landowner at Copper Dome
are progressing ahead of anticipated diamond drilling later in the
year. It is planned to use the same logistics and core yard as at
Copperhead, to minimise duplication of infrastructure and to
provide the flexibility to potentially drill Copperhead and Copper
Dome simultaneously, if possible.
"The Company will continue to update the market with our
progress over the coming weeks."
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 / George Payne (Corporate
Finance)
Matt Butlin / Kelly Gardiner (Sales
and Corporate Broking)
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLKZGZVDFFGMZM
(END) Dow Jones Newswires
June 24, 2021 02:00 ET (06:00 GMT)
Rockfire Resources (LSE:ROCK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rockfire Resources (LSE:ROCK)
Historical Stock Chart
From Jul 2023 to Jul 2024