Clear targets defined at Copper Dome

RNS Number : 8764Z

Rockfire Resources PLC

22 May 2019

 

22 May 2019

Rockfire Resources plc

("ROCK", "Rockfire" or "the Company")

Copper-in-soil defines clear targets at Copper Dome

Rockfire Resources plc (LON: ROCK), the gold and base metal-focused resource company, is pleased to announce that recent extension soil sampling at the Copper Dome Project in Queensland, Australia, has returned strongly anomalous results up to 0.1% Cu in the soils. As announced on 26 November 2018, Rockfire has an option to acquire Copper Dome (the "Option") and a decision to exercise is required by 23 May 2019.

·      Anomalous copper and gold results have been returned from the soils;

·      The copper anomaly has been extended south from the previous Rockfire survey by 500m;

·      Copper-in-soil is strongest at the margins of the mapped porphyries;

·      Gold-in-soil occurs in a confined east-west band between the two largest mapped porphyries;

·      The anomaly remains open towards the east and west;

·      Soil results are up to 1,115ppm (0.11%) Cu and 145ppb (0.15ppm) Au

As part of the recent extension soil survey at Copper Dome, 108 soil samples were collected over an area of approximately 850m x 600m. As previously announced, this extension was to test south of strongly anomalous soil samples collected by Rockfire during March 2019. A link is provided below which illustrates the distribution and magnitude of the copper-in-soil and gold-in-soil results.

http://www.rns-pdf.londonstockexchange.com/rns/8764Z_1-2019-5-22.pdf

David Price, Chief Executive Officer of Rockfire commented; 

"These soil sample results are very pleasing. The copper appears to adhere to the margins of the mapped porphyry, whilst the gold forms an impressive east-west trend precisely at the contact point between the two porphyries as mapped."

"Our exploration to date at Copper Dome has included preliminary geological mapping, prospect-scale rock sampling and comprehensive soil sampling over the known outcrops of the intrusions. This exploration has returned very high-grade copper-in-rock samples, medium level copper-in-soil values and low-level gold-in-soil assays. Importantly, this work has resulted in the delineation of clear geochemical targets."

"The market will be updated on the board's decision whether the Company will exercise the Option."

Qualified Person Statement:

Information in this announcement that relates to exploration results is based on information compiled by Mr David Price, a Director of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price 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 under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

In quoting exploration targets, the potential quantity and grade is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

For further information on the Company, please visit www.rockfireresources.com or contact the following: 

Rockfire Resources plc	Email: [e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser)	Tel: [phone]
John Depasquale/ Asha Chotai
First Equity Limited (Joint Broker)	Tel: [phone]
Jason Robertson
SI Capital (Joint Broker)	Tel: [phone]
Nick Emerson

 

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