Rockfire Resources PLC High-grade copper found at Copper Dome (7113T)
22 March 2019 - 8:06PM
UK Regulatory
TIDMROCK
RNS Number : 7113T
Rockfire Resources PLC
22 March 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
22 March 2019
Rockfire Resources plc
("ROCK", "Rockfire" or "the Company")
High-grade copper found at Copper Dome
Rockfire Resources plc (LON: ROCK), the copper and gold-focused
resource company, is pleased to announce that soil and rock samples
collected from the Copper Dome Porphyry Copper Project in Central
Queensland ("Copper Dome"), have returned rock samples up to 23.4%
Cu and significantly elevated copper-in-soil values up to 779 ppm
Cu. As announced on 26 November 2018, Rockfire has an option to
acquire Copper Dome, which expires on 23 May 2019.
-- Rock samples returned maximum grades of 23.4% Cu, 3.2 g/t Au and 952 g/t Ag;
-- 23% of all rock samples assay above 0.5 g/t Au, above 5 g/t Ag and above 0.1% Cu;
-- High-grade copper, gold and silver rock samples define ridges
radiating from the mapped centre of the porphyry system, with
potential for high-grade, vein-hosted mineralisation in addition to
porphyry-hosted mineralisation;
-- Elevated copper-in-soil occurs over a coherent area
approximately 500m x 300m, suggesting potential for large
tonnage;
-- Copper has been found in soils at a new, undrilled location
to the north of previous drilling;
-- Soil program will be extended to the south to cover second mapped porphyry.
A link is provided below to view the soil and rock sample
distribution at Copper Dome.
http://www.rns-pdf.londonstockexchange.com/rns/7113T_1-2019-3-22.pdf
Chief Executive Officer of Rockfire, David Price, commented:
"These results from our maiden soil and rock sampling program at
Copper Dome have exceeded our expectations. The coherent
distribution of the copper-in-soil is encouraging for tonnage
potential, whilst the copper grades in the soils are almost 80
times background levels."
"The rock samples have returned extremely high-grade copper and
strongly elevated gold and silver in an area to the west of
previous drilling. The correlation with topographic ridges provides
potential for very high-grade, vein-hosted mineralization, as well
as porphyry-style copper/gold targeted by the soil sampling."
"Previous drilling at Copper Dome was very shallow (some holes
only 15m deep), whilst deeper holes intersected 4.58m @ 2.28 % Cu
(from 161m) and 3.05m @ 1.24 % Cu (from 54m). These holes were
drilled vertically, which may not be the most appropriate
orientation if structures are found to be important as fluid
pathways and ultimate concentration of copper."
"Our plan is to continue soil sampling towards the south to
determine the extent of the copper-in-soil anomalism, which remains
open towards the south and east. We will also expand our soil
sampling towards the west, to explore the new western areas
identified by rock sampling and geological mapping. This expansion
of the original program will occur after the field crews have
completed ground magnetics at Double Event within the Lighthouse
tenement."
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 more information regarding Rockfire Resources, please
contact:
Rockfire Resources plc Email: info@rockfireresources.com
David Price, Chief Executive
Officer
Allenby Capital Limited (Nominated Tel: +44 (0) 20 3328
Adviser) 5656
John Depasquale/ Asha Chotai
Tel: +44 (0) 20 7374
First Equity Limited (Joint Broker) 2212
Jason Robertson
Tel: +44 (0) 1 483 413
SI Capital (Joint Broker) 500
Nick Emerson
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.
END
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