Exploration Update

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 mostencouraging 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:	[e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser & Broker)	Tel: [phone]
John Depasquale / George Payne (Corporate Finance) Matt Butlin / Kelly Gardner (Sales and Corporate Broking)
Yellow Jersey	[e-mail]
Sarah Hollins / Henry Wilkinson	Tel: [phone]

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.

 

END

 

 

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