Proactiveinvestors United Kingdom Rockfire Resources PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Rockfire Resources PLC RSS feed en Fri, 24 May 2019 08:31:32 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Rockfire Resources PLC takes full ownership of Copper Dome project in Queensland ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13455/rockfire-resources-plc-takes-full-ownership-of-copper-dome-project-in-queensland-13455.html Thu, 23 May 2019 10:58:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13455/rockfire-resources-plc-takes-full-ownership-of-copper-dome-project-in-queensland-13455.html <![CDATA[News - Rockfire Resources exercises option to acquire Copper Dome project in Queensland ]]> https://www.proactiveinvestors.co.uk/companies/news/220835/rockfire-resources-exercises-option-to-acquire-copper-dome-project-in-queensland-220835.html Rockfire Resources PLC (LON:ROCK) has exercised its option to acquire the Copper Dome project in Queensland, Australia.

The company has been carrying out exploration work at the deposit and had until the close of play today (Thursday) to decide whether it wanted to acquire it.

It's bosses have now opted to do so, and Rockfire will pay A$30,000 in cash to Symbolic Resources, as well as issue Symbolic with 3.72mln shares worth around A$50,000.

READ: Rockfire discovers more high grades at Copper Dome

The decision is unlikely to surprise many investors after recent soil surveys identified “coherent, strong gold and copper anomalism”.

Some samples returned copper (Cu) values of up to 23.4% Cu and gold (Au) to 3.2 grams per tonne Au. Previous drilling back in the 1970s also confirmed the presence of copper.

Rockfire said Copper Dome, which sits only 50km from its Copperhead prospect, is “vastly under-explored” and potentially host to a “large-scale mineralised system”.

The plan now is to carry out further exploration at both Copper Dome and Copperhead, including ground magnetic surveys and gradient array IP.  This will help to identify clear targets, Rockfire said, and will lead towards drilling.

Developing both projects together

“Our management team is encouraged by the confirmatory work done by the Rockfire exploration team as part of our technical due diligence on Copper Dome,” said chief executive David Price.

“With coherent copper occurring around the rim of a mapped porphyry, as well as gold occupying the boundaries of two close-spaced porphyries, the geological setting shows excellent signs for gold and copper mineralisation.”

“The company's objective is to grow and expand the mineralisation at Copper Dome in conjunction with Copperhead and to develop both porphyry projects simultaneously, with the aim of outlining very large tonnage copper resources.”

Rockfire shares were down 2.1% to 0.71p at the opening bell on Thursday.

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Thu, 23 May 2019 08:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220835/rockfire-resources-exercises-option-to-acquire-copper-dome-project-in-queensland-220835.html
<![CDATA[RNS press release - Exercise of Option to Acquire Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190523073403_14084823/ Thu, 23 May 2019 07:34:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190523073403_14084823/ <![CDATA[News - Rockfire Resources discovers more high grades at Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/news/220786/rockfire-resources-discovers-more-high-grades-at-copper-dome-220786.html Recent soil sampling at Rockfire Resources PLC’s (LON:ROCK) Copper Dome project in Queensland, Australia has returned more high-grade copper and gold results.

Rockfire has the option to acquire the project, although a decision one way or the other must be made by tomorrow (23 May).

READ: Soil sampling at Cardigan Dam yields promising results for Rockfire

Back in March, the company began an extension soil survey at Copper Dome, which saw it collect 108 sample over an area of 510,000 square metres.

The purpose of the extension was to test the land south of where Rockfire collected “strongly anomalous” soil samples earlier in the year.

The firm said today that anomalous copper and gold results have been returned from the soils, including grades of up to 0.11% copper and 0.15 parts per million of gold.

The copper anomaly extended 500m south from the previous survey, and the anomaly remains open to the east and west.

Results ‘very pleasing’

“These soil sample results are very pleasing,” said chief executive David Price.

“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.”

As for the decision on whether or not to acquire the project, Price said the market will be updated in due course.

2019 shaping up to be ‘particularly prosperous’

In an earlier announcement, Rockfire released its full-year results.

Chairman Gordon Hart said it had been a “successful” 2018 following last summer’s boardroom upheaval, during which he and chief executive Price took their seats at the table.

The company carried out an “aggressive exploration program” during the year, including four drilling campaigns at its Double Event, Plateau and Marengo projects.

“The year ahead is looking particularly prosperous, with much of the administrative matters now complete and having access to so much highly-prospective ground,” said Hart.

For the year ended 31 December 2018, Rockfire made a loss of £2.02mln (2017: £0.38mln). It ended the period with £0.30mln of cash in the bank (2017: £1.26mln), although a £500,000 placing in January means that figure will be higher now.

Rockfire shares were down 6.7% to 0.7p on Wednesday afternoon.

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Wed, 22 May 2019 13:05:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220786/rockfire-resources-discovers-more-high-grades-at-copper-dome-220786.html
<![CDATA[RNS press release - Clear targets defined at Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190522123341_14083795/ Wed, 22 May 2019 12:33:41 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190522123341_14083795/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190522115435_14083732/ Wed, 22 May 2019 11:54:35 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190522115435_14083732/ <![CDATA[News - Soil sampling at Cardigan Dam yields promising results for Rockfire Resources ]]> https://www.proactiveinvestors.co.uk/companies/news/220579/soil-sampling-at-cardigan-dam-yields-promising-results-for-rockfire-resources-220579.html Rockfire Resources PLC (LON: ROCK) has identified a promising soil anomaly at the Cardigan Dam prospect on the Lighthouse tenement in Queensland, Australia.

Two broad gold-in-soil anomalous trends were detected in recent work. Each trend is approximately 400 metres long by 100 metres wide in dimension.

WATCH: Rockfire Resources' David Price upbeat on Copper Dome results

The anomaly remains open along strike length.  

Soil sampling returned results as high as 205 parts per billion gold.

"Rockfire's strategy of systematic, cost-effective and rapid appraisal of each of its prospects has resulted in the definition of a distinct gold-in-soil anomaly at the Cardigan Dam prospect,” said David Price, chief executive of Rockfire. 

“The gold values, up to 0.2 ppm gold, represent strong anomalism and provide a clear target for further investigation. Importantly, the gold strengthens towards the north of the strike area and extends beyond the limits of the survey.  For this reason, the company's systematic evaluation of Cardigan Dam will extend the soil sampling to the north, to explore the extent of surface mineralisation."

Rockfire also said that access to the Copperhead project is being re-established following the wet season in Queensland.

“An IP geophysical survey is planned for Copperhead in order to determine if sulphide accumulations can be detected at depths below 150 metres from surface," said Price.

 

 

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Mon, 20 May 2019 08:25:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220579/soil-sampling-at-cardigan-dam-yields-promising-results-for-rockfire-resources-220579.html
<![CDATA[RNS press release - Cardigan Dam returns broad, coherent gold anomaly ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190520070006_14079260/ Mon, 20 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190520070006_14079260/ <![CDATA[RNS press release - Updated Corporate Presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190510085344_14069572/ Fri, 10 May 2019 08:53:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190510085344_14069572/ <![CDATA[News - Rockfire Resources getting clearer picture of Queensland gold prospect ]]> https://www.proactiveinvestors.co.uk/companies/news/219990/rockfire-resources-getting-clearer-picture-of-queensland-gold-prospect-219990.html Rockfire Resources PLC (LON:ROCK) has extended the length where gold has been found in soil along the surface of its “bonanza” grade Double Event prospect in Queensland. 

Having sifted through soil and rock from another kilometre of surface soil in recent months, the samples continued the very high grades seen previously, Rockfire said, including a rock sample of 58.5 grammes of gold per tonne and gold-in-soil values up to 3.86 g/t.

Ahead of planned geophysical testing, chief executive David Price said the high-grade rocks are "most encouraging" but he felt the important conclusion was "not so much the high-grade nature of the results, but the discrete, well-defined distribution of the anomalism" in defining future drill targets.

He added: "This clear definition helps to minimise the potential for fruitless drill metres in areas identified as non-mineralised."

Bonanza grades

In November the explorer said that gold had been intersected in all but one hole over a 12-hole drilling programme, with highlights including 25.9 grams per tonne (g/t) of gold at 1-metre depth and 10.04 g/t of Gold at 3m depth.

Rockfire said the average vertical depth of gold intersection was 18m from the surface, adding that the grades and widths encountered meant there was “real potential for the discovery of open pit resources”.

Price said at the time that apart from the high-grade, near-surface gold, the most “exciting aspect” of the drilling was that it had discovered the strike length at the surface exceeded 4.5 kilometres in length, with two sections of 400m having been demonstrated to contain “potentially economic grades and potentially mineable widths".

Price also said that the Double Event vein had crossed into the Kookaburra licence, adding 1.5km to the vein system to explore to the west, meaning the licence was now known to host “potentially economic gold grades near surface”.

The results follow gold grades from another of the firm’s drilling projects in Queensland, Marengo, which were delivered in October.

Highlights from shallow holes drilled at the site included gold grades of up to 7.8 grams per tonne in one section as well as 2.1 grams per tonne over 4 metres (with 1 metre at 7.8 g/t), 5 metres at 0.5 g/t (with 1 metre at 1.9 g/t) along with a number of other sections above 1 g/t.

At the time, Rockfire told investors that future work at Marengo will focus on an additional 16 historical workings at the Homeward Bound prospect along with more than 30 prospects throughout the entire goldfield.

Next steps

Price said this month that Rockfire was gathering quotes from different contractors to carry out geophysical surveys along the strike, with the surface recent rock sampling indicating sulphide concentrations and gold-in-rock results showing quartz veins that contain gold.

"Although we have confidence in the presence of gold along a very long strike extent, we require additional information at depth to help with target generation for future drill holes down to 100m below surface.

"Geophysics, and particularly Induced Polarisation will help to identify if areas of sulphide accumulation are present at depth. Any sulphide accumulations will be targeted for drill-testing."

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Thu, 09 May 2019 14:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219990/rockfire-resources-getting-clearer-picture-of-queensland-gold-prospect-219990.html
<![CDATA[News - Rockfire Resources extends strike length at Double Event in Queensland by 1km ]]> https://www.proactiveinvestors.co.uk/companies/news/219774/rockfire-resources-extends-strike-length-at-double-event-in-queensland-by-1km-219774.html Rockfire Resources PLC (LON:ROCK) has added another 1km to the length of the potential gold strike at Double Event in Queensland, Australia.

Additional soil and rock samples continued the very high grades seen previously, said Rockfire including a rock sample of 58.5 g/t and 3.86 g/t gold-in-soil.

The gold-in-soil grades, particularly, were extremely high, said the explorer with the total prospective strike length of Double Event is now 4.5km.

David Price, chief executive, said as well as the grades the clear definition of the mineralisation was important.

“This clear definition helps to minimise the potential for fruitless drill metres in areas identified as non-mineralised. The high-grade rocks are most encouraging."

Next steps: “Geophysics, and particularly Induced Polarisation (IP) will help to identify if areas of sulphide accumulation are present at depth. 

“Any sulphide accumulations will be targeted for drill-testing."

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Tue, 07 May 2019 08:25:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219774/rockfire-resources-extends-strike-length-at-double-event-in-queensland-by-1km-219774.html
<![CDATA[RNS press release - Double Event surface anomaly continues to expand ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190507070006_14063577/ Tue, 07 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190507070006_14063577/ <![CDATA[RNS press release - Appointment of Non-executive Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190501091501_14059024/ Wed, 01 May 2019 09:15:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190501091501_14059024/ <![CDATA[News - Rockfire Resources says soil sampling activities on its exploration projects in Queensland are all progressing ]]> https://www.proactiveinvestors.co.uk/companies/news/218833/rockfire-resources-says-soil-sampling-activities-on-its-exploration-projects-in-queensland-are-all-progressing-218833.html Rockfire Resources PLC (LON:ROCK) has provided an update on its three field-based exploration activities in Queensland, Australia which are all showing progress in soil sampling activities.

The AIM-listed precious and base metal-focused resource company said that at the Western Extension of the Double Event Prospect soil sampling has been completed on the gold mineralised trend.

READ: Rockfire Resources discovers high grades at Copper Dome

The firm said a total of 424 soil samples and 12 rock samples have been within the last few weeks of field work and all the samples have been submitted to the laboratory for gold analysis, with results awaited.

Rockfire also said soil sampling has also been completed at the Cardigan Dam Prospect, which lies within the Lighthouse tenement and was explored in 1990 by Esso Australia, Aberfoyle and CRA Exploration.

The group noted that a total of 240 soil samples were recently collected and these have also been submitted to the laboratory for gold analysis with results awaited.

It added that further soil sampling has also now commenced at the Copper Dome Porphyry Copper Project in Central Queensland to extend the soil sampling completed in late March 2019.

As announced on 22 March 2019, strongly anomalous copper-in-soil was returned up to 779ppm (parts per million) of copper and the anomalism extends over the southern and western limits of the area surveyed in March.

The group said the soil sampling program currently underway is designed to adequately test areas of mapped porphyry outcrop, as well as areas which returned very high-grade rock samples of up to 23.4% Cu.

Rockfire has an option to acquire Copper Dome, which expires on 23 May 2019 and the ongoing soil sampling exploration program and its results will contribute towards a decision whether to exercise the option.

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Thu, 18 Apr 2019 08:42:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218833/rockfire-resources-says-soil-sampling-activities-on-its-exploration-projects-in-queensland-are-all-progressing-218833.html
<![CDATA[RNS press release - Field Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190418075001_14045987/ Thu, 18 Apr 2019 07:50:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190418075001_14045987/ <![CDATA[Media files - Rockfire Resources' David Price upbeat on Copper Dome results ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12713/rockfire-resources--david-price-upbeat-on-copper-dome-results-12713.html Mon, 25 Mar 2019 11:19:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12713/rockfire-resources--david-price-upbeat-on-copper-dome-results-12713.html <![CDATA[News - Rockfire Resources discovers high grades at Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/news/217022/rockfire-resources-discovers-high-grades-at-copper-dome-217022.html Rockfire Resources PLC (LON:ROCK) shares jumped on Friday as the explorer told investors it has discovered high-grade copper in samples at the Copper Dome Porphyry project in Central Queensland.

The explorer, in a statement, revealed that rock sampling saw high grades up to 23.4% copper, as well as 3.2 grams per tonne gold and 952 grams per tonne silver.

WATCH: Rockfire Resources' David Price upbeat on Copper Dome results

“These results from our maiden soil and rock sampling program at Copper Dome have exceeded our expectations,” said David Price, Rockfire chief executive.

“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."

Rockfire noted that just over a fifth of samples (23% of them) measured grades above 0.5 grams per tonne gold, 5 grams per tonne silver and 0.1% copper.

It noted that the samples define ridges radiating from the mapped centre of the porphyry system and said that there is also a potential for high-grade, vein-hosted mineralisation.

Rockfire also highlighted that copper was found in soils at a new, undrilled location to the north of the previous drilling. Sampling will now be extended to the south, to explore a second mapped porphyry.

Price added: "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 programme will occur after the field crews have completed ground magnetics at Double Event within the Lighthouse tenement."

In afternoon trading, Rockfire shares were 17% higher at 0.85p.

 -- Adds share price --

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Fri, 22 Mar 2019 09:32:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217022/rockfire-resources-discovers-high-grades-at-copper-dome-217022.html
<![CDATA[RNS press release - High-grade copper found at Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190322090618_14012310/ Fri, 22 Mar 2019 09:06:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190322090618_14012310/ <![CDATA[News - Rockfire completes initial round of exploration at Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/news/216268/rockfire-completes-initial-round-of-exploration-at-copper-dome-216268.html Rockfire Resources PLC (LON:ROCK) has completed initial soil sampling, rock sampling and geological mapping at the Copper Dome porphyry copper project in Central Queensland.

A total of 176 soil samples and 34 rock samples have been submitted to the laboratory for analysis;

WATCH: Rockfire Resources deploys new funds across multiple projects

The mineralisation outcrops at surface, allowing for low-cost, near-surface exploration which, the company anticipates will result in lower exploration costs.

Whilst results are awaited from the Copper Dome project, a Rockfire field crew will mobilise to the Kookaburra tenement in Queensland, Australia, to commence soil sampling and ground magnetics. This program will test a 1.5-kilometre western extension to the Double Event prospect.

"This initial program of work at Copper Dome has provided our field crews with a good understanding of the specific issues relevant to a new project including access, terrain, geomorphology, outcrop distribution, geology and surface mineralization,” said Rockfire chief David Price.

“The soil and rock samples will provide a great snapshot of the overall potential of the prospect to deliver a project of scale. Results obtained from the soil and rock sampling will assist Rockfire's pending decision whether to exercise the option to acquire Copper Dome, a decision which is required by May 2019." 

 

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Tue, 12 Mar 2019 08:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216268/rockfire-completes-initial-round-of-exploration-at-copper-dome-216268.html
<![CDATA[RNS press release - Copper Dome initial surface geochemistry completed ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190312081501_13998633/ Tue, 12 Mar 2019 08:15:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190312081501_13998633/ <![CDATA[RNS press release - Appointment of Non-Executive Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190301123001_13987517/ Fri, 01 Mar 2019 12:30:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190301123001_13987517/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190228170004_13986061/ Thu, 28 Feb 2019 17:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190228170004_13986061/ <![CDATA[RNS press release - Appointment of Joint Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190228070009_13984415/ Thu, 28 Feb 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190228070009_13984415/ <![CDATA[News - Rockfire Resources begins exploration at Copper Dome prospect ]]> https://www.proactiveinvestors.co.uk/companies/news/215405/rockfire-resources-begins-exploration-at-copper-dome-prospect-215405.html Rockfire Resources PLC (LON:ROCK) has started exploration at the Copper Dome prospect in Queensland.

The exploration firm, which has an option to acquire 100% of the prospect, said soil and rock sampling, as well as structural and geological mapping, were being undertaken by field crews at the site.

WATCH: Rockfire Resources deploys new funds across multiple projects

Rockfire said the prospect was “vastly under-explored” and that mineralisation outcrops at the surface would provide “lower anticipated exploration costs” due to their cheaper near-surface exploration potential.

The company added that the results from the field program would help its decision-making around whether to acquire the prospect.

In mid-morning trading, Rockfire shares were steady at 0.8p.

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Wed, 27 Feb 2019 10:17:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215405/rockfire-resources-begins-exploration-at-copper-dome-prospect-215405.html
<![CDATA[RNS press release - Exploration initiated at Copper Dome ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190227093412_13983521/ Wed, 27 Feb 2019 09:34:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190227093412_13983521/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190226152137_13982495/ Tue, 26 Feb 2019 15:21:37 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190226152137_13982495/ <![CDATA[RNS press release - Replacement: Result of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190222094142_13978729/ Fri, 22 Feb 2019 09:41:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190222094142_13978729/ <![CDATA[Media files - Rockfire Resources deploys new funds across multiple projects ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12302/rockfire-resources-deploys-new-funds-across-multiple-projects-12302.html Wed, 20 Feb 2019 11:13:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12302/rockfire-resources-deploys-new-funds-across-multiple-projects-12302.html <![CDATA[RNS press release - Result of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190218133025_13973075/ Mon, 18 Feb 2019 13:30:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190218133025_13973075/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190206102559_13960254/ Wed, 06 Feb 2019 10:25:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190206102559_13960254/ <![CDATA[News - Rockfire Resources climbs as it locates “strong” gold targets at Lighthouse tenement ]]> https://www.proactiveinvestors.co.uk/companies/news/213984/rockfire-resources-climbs-as-it-locates-strong-gold-targets-at-lighthouse-tenement-213984.html Rockfire Resources PLC (LON:ROCK) shares rose in late-morning trading Tuesday after pinpointing several “strong” gold targets in the Double Event prospect at its Lighthouse tenement in Queensland.

The exploration firm said it had found “very high” gold-in-soil results of up to 0.23 grams per tonne (g/t) of gold, with 5 samples exceeding 0.1g/t of gold.

WATCH: Rockfire Resources deploys new funds across multiple projects

The highest results had originated from an area north of the previous drilling done by the firm, with two areas highlighted that require extension soil sampling.

Rockfire said the results added “significant potential” for the discovery of near-surface, high-grade gold at the prospect, where multiple drilling results had included 3m at 10.04g/t of gold and 3m at 2.94g/t gold from within 20m of the surface.

The firm added that the in-soil results indicated a parallel, mineralised vein that offered “another target to increase potential gold ounces”.

READ: Rockfire Resources raises £500,000 in new money to fund ongoing work

David Price, chief executive of Rockfire, said it was “most encouraging” that just over 12% of the samples at Double Event had returned results above 10 parts per billion (ppb) while 5% were in excess of 50ppb (0.5g/t gold).

“Several areas have been highlighted which require extensions to the survey, as gold-in-soil extends beyond the limit of the surveyed area. In addition to this, we will commence soil sampling to the west of Double Event and inside the adjoining Kookaburra tenement. This is expected to return gold-in-soil anomalies in areas where the previous exploration for gold has been extremely limited."

Shares were up 8.8% at 0.9p.

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Tue, 05 Feb 2019 11:28:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213984/rockfire-resources-climbs-as-it-locates-strong-gold-targets-at-lighthouse-tenement-213984.html
<![CDATA[RNS press release - Soils add near-surface, high-grade gold targets ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190205110001_13958789/ Tue, 05 Feb 2019 11:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190205110001_13958789/ <![CDATA[RNS press release - Notice of GM and Shareholder Circular ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190131153528_13954118/ Thu, 31 Jan 2019 15:35:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190131153528_13954118/ <![CDATA[News - Rockfire Resources raises £500,000 in new money to fund ongoing work ]]> https://www.proactiveinvestors.co.uk/companies/news/213400/rockfire-resources-raises-500000-in-new-money-to-fund-ongoing-work-213400.html Rockfire Resources PLC (LON:ROCK) has raised £500,000 through the placing of 58.8mln new shares at a placing price of 0.85p each, with a 1-for-1 attaching warrant exercisable at 1.5p.

The placing is subject to shareholder approval at a general meeting of the company.

WATCH: Rockfire Resources PLC - Proactive​ Investors Mining Capital Conference

As part of the placing, chairman Gordon Hart has subscribed for 8.8mln shares.

Rockfire also reminded shareholders of significant developments that have taken place over the past six months, including a refresh of the board.

Since June 2018, Rockfire has conducted multiple drilling campaigns at its Marengo and Double Event projects, completed a geophysical appraisal and target delineation on the Copperhead copper project, secured the Kookaburra exploration permit, added ground around Newmount's Mt Leyshon Gold Mine, and executed an option to acquire the Copper Dome project.

"The company underwent significant and necessary change last year,” said chief executive David Price.

“In addition to the development of our 100%-owned copper and gold assets in Queensland, there are currently a number of highly appealing deposits potentially becoming available as access to appropriate finance and operational knowledge is limiting other Australian-focused exploration companies in our region."

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Mon, 28 Jan 2019 08:41:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213400/rockfire-resources-raises-500000-in-new-money-to-fund-ongoing-work-213400.html
<![CDATA[RNS press release - Company Update and Placing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190128074230_13948385/ Mon, 28 Jan 2019 07:42:30 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190128074230_13948385/ <![CDATA[News - Rockfire Resources says soil sampling at Double Event prospect is underway ]]> https://www.proactiveinvestors.co.uk/companies/news/212507/rockfire-resources-says-soil-sampling-at-double-event-prospect-is-underway-212507.html Rockfire Resources PLC (LON:ROCK) told investors on Monday that soil sampling is underway at its Double Event prospect in Queensland, Australia.

The company said sampling has started ahead of schedule and will aim to accurately pinpoint drilling targets in a 2.5km long range.

READ: Rockfire Resources adds Copper Dome option to its growing project list

The targets lie between two drilling programmes completed last year, which intersected gold in nearly all holes.

Chief executive David Price said the wet season is set to begin in northern Australia but access currently remains possible so the company is making the most of this opportunity.

The Double Event vein structure is 4.5km long but just 800m of this has been tested so far by Rockfire.

Drilling in 2018 returned 3m at 10.04 grams per tonne (g/t) of gold from 27m, 3m at 2.94 g/t of gold from 15m, 2m at 3.17g/t of gold from 13m and 4m at 1.81 g/t of gold from 16m.

Price said other exploration programmes are being scheduled and a standard conduct and compensation agreement is currently being arranged with the landowner of the Copper Dome porphyry copper project in Central Queensland.

“Our due diligence process for a decision on the option to acquire Copper Dome is on-going and a decision is due before May 2019,” he said.

He added: "The company is in discussions with its consultant geophysicists regarding undertaking dipole-dipole IP survey lines at Copperhead. This survey is designed to highlight sulphide-rich zones beneath Copperhead. We will continue to inform the market as our exploration momentum increases."

The Copperhead project, Rockfire’s large-scale porphyry target, is located some 50 kilometres from Copper Dome. 

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Mon, 14 Jan 2019 12:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212507/rockfire-resources-says-soil-sampling-at-double-event-prospect-is-underway-212507.html
<![CDATA[RNS press release - Sampling underway to infill Double Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190114121915_13933788/ Mon, 14 Jan 2019 12:19:15 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190114121915_13933788/ <![CDATA[News - Rockfire Resources relinquishes Mount Visi licences in Papua New Guinea ]]> https://www.proactiveinvestors.co.uk/companies/news/212059/rockfire-resources-relinquishes-mount-visi-licences-in-papua-new-guinea-212059.html Rockfire Resources PLC (LON:ROCK) has decided to relinquish two exploration licences at the Mount Visi site in Papua New Guinea following a review of past data.

The resource company said following a review of past drilling, geology, accessibility, geophysics and geochemistry, it would relinquish the licences to focus on its assets in Queensland, in line with its strategy.

READ: Rockfire Resources surges as it identifies “outstanding gold target” at Kookaburra project

However, the group added that it would retain its other licence in the country, Nakru, which is currently awaiting renewal from authorities in Papua New Guinea.

David Price, chief executive of Rockfire, said “considerable work” had been done at Mt Visi over the years, including 776 metres of diamond drilling in five holes.

However, Price said with the best results being 71m at 0.04% Cu, the company considered the on-going costs of further exploration in the “difficult” terrain to be “well outside Rockfire's risk/reward profile at this stage of its growth”.

“Having drilled 5 diamond holes and considering the associated considerable expense, the Directors believe that results of this magnitude do not warrant additional expenditure. Given the extreme terrain, the lack of economic results and the anticipated high cost of on-going exploration, the Rockfire Directors have decided that the two Mt. Visi licences should be relinquished with immediate effect,” the company said.

The decision follows news in December that the company had identified “outstanding past drilling results” at its Kookaburra exploration licence in Queensland following a review of historical drilling at the Native Bee prospect.

In lunchtime trading Monday, Rockfire shares were down 2.5% at 0.95p.

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Mon, 07 Jan 2019 12:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212059/rockfire-resources-relinquishes-mount-visi-licences-in-papua-new-guinea-212059.html
<![CDATA[RNS press release - Update on Papua New Guinea Prospects ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190107113915_13926018/ Mon, 07 Jan 2019 11:39:15 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20190107113915_13926018/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181224120502_13915201/ Mon, 24 Dec 2018 12:05:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181224120502_13915201/ <![CDATA[RNS press release - Change of Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181224120001_13915191/ Mon, 24 Dec 2018 12:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181224120001_13915191/ <![CDATA[News - Rockfire Resources surges as it identifies “outstanding gold target” at Kookaburra project ]]> https://www.proactiveinvestors.co.uk/companies/news/211396/rockfire-resources-surges-as-it-identifies-outstanding-gold-target-at-kookaburra-project-211396.html Rockfire Resources PLC (LON:ROCK) shares surged in mid-morning trading Tuesday after it identified “outstanding past drilling results” at its Kookaburra exploration licence in Queensland following a review of historical drilling at the Native Bee prospect.

The AIM-listed exploration firm said the historical drilling from the prospect in 1990 had identified several intercepts, including;

• 8 metres at 2.18 grams per tonne (g/t) of gold (Au), including 3m at 5.13 g/t Au, from 26m vertical depth

• 16m at 2.14 g/t Au from 35m vertical depth

A trench intercept from 1989 had identified 19m at 2.8 g/t Au while rock samples from 1989 included;

• 51.8 g/t Au

• 12.4 g/t Au

• 32.4 g/t Au

• 13.0 g/t Au

Rockfire said that the results provided the firm with “further potential to delineate a large gold inventory, adding to the excellent potential offered by the nearby Plateau and Double Event Prospects”, both of which are adjacent to the Lighthouse licence.

David Price, chief executive of Rockfire, said Native Bee was “a high-priority exploration target” within the Kookaburra license, adding that it was “surprising that this prospect has been sitting dormant and unexplored for over 25 years”.

READ: Rockfire Resources adds Copper Dome option to its growing project list

“Historical drilling at Native bee has intersected potentially economic gold grades and widths close to surface. This fits nicely with Rockfires deliberate strategy of accumulation of near-surface gold resources within trucking distance of operational gold processing facilities.”

Price added that the company would follow up these historical results with “detailed geological and structural mapping” of the prospects, with a gradient array IP geophysical and ground magnetic survey to be scheduled for the 2019 field season.

Rockfire owns 100% of the Kookaburra licence.

Rockfire shares were up 4.5% at 1.15p.

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Tue, 18 Dec 2018 10:38:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211396/rockfire-resources-surges-as-it-identifies-outstanding-gold-target-at-kookaburra-project-211396.html
<![CDATA[RNS press release - Outstanding gold target identified at Kookaburra ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181218095349_13907669/ Tue, 18 Dec 2018 09:53:49 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181218095349_13907669/ <![CDATA[Media files - Rockfire Resources PLC - Proactive Investors Mining Capital Conference ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11423/rockfire-resources-plc---proactive-investors-mining-capital-conference-11423.html Tue, 04 Dec 2018 08:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11423/rockfire-resources-plc---proactive-investors-mining-capital-conference-11423.html <![CDATA[RNS press release - Updated Presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181127110004_13881933/ Tue, 27 Nov 2018 11:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181127110004_13881933/ <![CDATA[News - Rockfire Resources adds Copper Dome option to its growing project list ]]> https://www.proactiveinvestors.co.uk/companies/news/209935/rockfire-resources-adds-copper-dome-option-to-its-growing-project-list-209935.html Rockfire Resources PLC (LON:ROCK) has entered into an option deal giving it the right to acquire the Copper Dome porphyry copper project, in Central Queensland.

Historically known as Mt Leslie the deposit was the subject of a resource estimate, published in 2010 by the US Geological Survey, and, it is believed to be a large-scale mineralised system.

Copper Dome is seen to have a surface expression of copper mineralization across more than 2 kilometres length and 1 kilometre width, though Rockfire notes that the prospect is “vastly under-explored”. It is located some 50 kilometres from Copperhead, Rockfire’s existing large-scale porphyry target.

READ: Rockfire Resources soars as it strikes “bonanza” gold grades

Drilling took place in 1972, yielding grades of up to 0.88% copper and some gold grades were measured.

Rockfire highlighted that many intervals of visible copper mineralization have not been assayed, for either copper or gold, and, that only sporadic gold analysis has been done (peak grades in drilling were seen up to 1.86 g/t).

It also noted that as the mineralisation outcrops at surface, there are opportunities for low-cost, near-surface exploration.

Copper Dome is a “tremendous fit”​

"The acquisition of Copper Dome would be a tremendous fit with Rockfire's existing portfolio of porphyry copper prospects and I view this as a potential strategic platform for future growth,” said David Price, Rockfire chief executive.

“Copper Dome provides opportunity to secure a project similar in many ways to Copperhead, with intervals of high-grade copper within a much broader envelope of copper mineralisation."

"What I particularly like about Copper Dome is its close proximity to Copperhead and to Australia's largest copper refinery near Bowen, approximately 250km to the north.

Price added: “Rockfire's work at Copper Dome will commence during the Option Period to ensure Rockfire has a better understanding of the mineralising structures and overall potential prior to exercising the option.

“Our work will focus on soil sampling, ground magnetics, geological and structural mapping and an XRF survey. Owing to its proximity to Copperhead, these campaigns can be run in succession with work planned at Copperhead also."

Deal terms

The option terms see Rockfire paying an option fee of A$20,000 to Symbolic Resources in return for a six month option period.

At any time, Rockfire can exercise the option with a further payment of A$30,000 in cash and A$50,000 of Rockfire shares.

It would then hold 100% ownership of the Copper Dome Exploration Permit to Mine.

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Mon, 26 Nov 2018 13:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209935/rockfire-resources-adds-copper-dome-option-to-its-growing-project-list-209935.html
<![CDATA[RNS press release - Option to acquire a high-potential copper project ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181126123725_13880477/ Mon, 26 Nov 2018 12:37:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181126123725_13880477/ <![CDATA[Media files - Rockfire Resources CEO on impressive Double Event results and Copperhead plans ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11287/rockfire-resources-ceo-on-impressive-double-event-results-and-copperhead-plans-11287.html Thu, 22 Nov 2018 13:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11287/rockfire-resources-ceo-on-impressive-double-event-results-and-copperhead-plans-11287.html <![CDATA[News - Rockfire Resources soars as it strikes “bonanza” grade gold at Double Event prospect ]]> https://www.proactiveinvestors.co.uk/companies/news/209447/rockfire-resources-soars-as-it-strikes-bonanza-grade-gold-at-double-event-prospect-209447.html Rockfire Resources PLC (LON:ROCK) saw its shares soar in early trading Monday after its intersected “bonanza” grade gold at its Double Event prospect in Queensland.

The gold explorer said that gold had been intersected in all but one hole over a 12 hole drilling programme performed in November, with highlights including 25.9 grams per tonne (g/t) of Gold at 1-metre depth and 10.04 g/t of Gold at 3m depth.

Drilling results here

Rockfire said the average vertical depth of gold intersection was 18m from the surface, adding that the grades and widths encountered meant there was “real potential for the discovery of open pit resources”.

David Price, chief executive of Rockfire, said that apart from the high grade, near surface gold, the most “exciting aspect” of the drilling was that it had discovered the strike length exceeded 4.5 kilometres in length, with two sections of 400m having been demonstrated to contain “potentially economic grades and potentially mineable widths".

READ: Rockfire Resources shares jump as it completes drilling programme at Double Event prospect

Price also said that the Double Event vein had crossed into the Kookaburra licence, adding 1.5km to the vein system to explore to the west, meaning the licence was now known to host “potentially economic gold grades near surface”.

Looking forward, Rockfire said it now had “a high degree of confidence to commit to additional work” with plans to define the extent of the “bonanza” grade gold.

The company added that it would also be undertaking geological and structural mapping at the zone between the recent drilling and drilling completed in June this year, as well as in the Kookaburra licence to define areas for future drilling.

Striking gold at Marengo

The results follow gold grades from another of the firm’s drilling projects in Queensland, Marengo, which were delivered in October.

Highlights from shallow holes drilled at the site included gold grades of up to 7.8 grams per tonne in one section as well as 2.1 grams per tonne over 4 metres (with 1 metre at 7.8 g/t), 5 metres at 0.5 g/t (with 1 metre at 1.9 g/t) along with a number of other sections above 1 g/t.

At the time, Rockfire told investors that future work at Marengo will focus on an additional 16 historical workings at the Homeward Bound prospect along with more than 30 prospects throughout the entire goldfield.

Shares were up 40% at 1.65p.

 

 

--Adds details of Marengo drill results and CEO interview--

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Mon, 19 Nov 2018 08:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209447/rockfire-resources-soars-as-it-strikes-bonanza-grade-gold-at-double-event-prospect-209447.html
<![CDATA[RNS press release - Drilling intersects bonanza gold at Double Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181119070424_13871093/ Mon, 19 Nov 2018 07:04:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3906/LSE20181119070424_13871093/