TIDMROCK
RNS Number : 8133I
Rockfire Resources PLC
17 August 2021
17 August 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:
-- Diamond drilling is well underway at the Copperhead porphyry project ("Copperhead").
-- During the preparation of tracks, pads and infrastructure for
drilling, the Rockfire geologists continued to observe weathered
sulphides in fractures and veins at Copperhead. As the access
tracks advanced towards the drill site, zones of malachite and
azurite (copper carbonate) were mapped, as well as occasional fresh
chalcopyrite (copper sulphide) in veins.
-- Sixty-six (66) rock samples have been collected along the
access tracks and in proximity to the drill pads. Samples have been
sent to the laboratory in Townsville for analysis.
-- Landowner access and compensation continues to be negotiated
at the Copper Dome porphyry project ("Copper Dome") in advance of
diamond drilling.
A photograph showing copper carbonates (green malachite and blue
azurite) close to the drilling sites at Copperhead can be viewed by
following the link provided.
http://www.rns-pdf.londonstockexchange.com/rns/8133I_1-2021-8-16.pdf
Gold Highlights:
-- A high-definition gravity survey was completed at the Plateau
gold deposit ("Plateau"), part of the Lighthouse tenement. This
survey successfully identified two gravity "High" anomalies,
showing potential concentrations of sulphides at depth.
-- One gravity anomaly lies immediately southeast of Rockfire's
drilling at Plateau, whilst the second, stronger gravity anomaly
lies further southeast of Plateau, in a location not previously
tested by any drilling.
-- Gravity surface data will be collected by our field team for
input into a 3-dimensional interpretation, to determine the depth
and orientation of the gravity anomaly in the third dimension.
David Price, Chief Executive Officer of Rockfire, comments:
"Our exploration team has achieved a remarkable outcome to
re-establish access, source water, identify a suitable drilling rig
for the terrain and prepare for this logistically-challenging
drilling programme. I am pleased to inform shareholders that
diamond drilling is underway at Copperhead, almost 50 years after
copper was first discovered there.
"Copper carbonates at surface become more abundant closer to the
drilling site and it's most encouraging to see copper minerals
forming part of the interstitial rock matrix, as well as
vein-hosted copper. This implies the potential for two styles of
copper mineralisation.
"Geological mapping is highlighting multiple areas of
high-magnetism associated with broken, silica-altered rocks hosting
iron oxides, copper carbonates, quartz veining and pegmatite dykes.
Rockfire will be analysing rock samples for lithium to ensure
pegmatite-hosted lithium is tested.
"Diamond drilling is expected to continue for the next 2-3
months and the Company will update the market with our drilling
progress and results, as they 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
John Depasquale / George Payne (Corporate
Finance)
Matt Butlin / Kelly Gardner (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.
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