Rockfire Resources PLC (LON:ROCK)

Rockfire Resources PLC (LON:ROCK)


Share Price
0.63 p
Change
0 (0.00 %)
Market Cap
£2.72 m
Proactive Investors - Run By Investors For Investors

Rockfire Resources PLC RNS Release

Exploration initiated at Copper Dome


RNS Number : 2717R
Rockfire Resources PLC
27 February 2019
 

27 February 2019

Rockfire Resources plc

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

Exploration initiated at Copper Dome

 

Rockfire Resources plc (LON: ROCK), the copper and gold-focused resource company, announces that simultaneous soil sampling, rock sampling and geological mapping are underway at the Copper Dome porphyry copper prospect in Central Queensland ("Copper Dome"). As announced on 26 November 2018, Rockfire has an option to acquire Copper Dome (the "Option") and results obtained from the current field program will assist the Company in its decision whether to proceed to full acquisition.

 

·  Soil sampling, rock sampling and structural and geological mapping are being undertaken simultaneously by multiple field crews;

 

·    The surface expression of copper mineralisation is more than 2km x 1km and only the upper parts of the deposit have been tapped;

 

·   The prospect remains vastly under-explored and many previous drilling intervals with visible copper mineralisation have not been analysed for copper and gold;

 

·      As announced on 26 November 2018, previous diamond drilling results include;

 

Ø15m @ 0.9 % Cu (including 4.6m @ 2.3 % Cu) from 161m downhole depth

Ø12m @ 0.6 % Cu (including 3m @ 1.2 % Cu) from 54m downhole depth

Ø24m @ 0.3 % Cu (including 7m @ 0.4 % Cu) from 225m downhole depth

 

·     Diamond hole QML004 - 51.20m @ 0.20 g/t gold (from 72m downhole depth);

 

 ·   Under its previous name of 'Mount Leslie', Copper Dome is listed in the United States Geological Survey (USGS) 2010 "Global Mineral Resource Assessment", which states that the prospect is characterized by chalcopyrite (copper), with minor galena (lead) and sphalerite (zinc).

 

·   The mineralisation outcrops at surface, providing low-cost, near-surface exploration, resulting in lower anticipated exploration costs;

 

·    Should Rockfire elect to proceed to full acquisition, Rockfire would have 100% ownership of Copper Dome.

 

 

Chief Executive Officer of Rockfire, David Price, commented:

 

"Now that the flood waters have receded in North Queensland, our exploration schedule for 2019 has commenced with multiple exploration teams mobilizing to site for soil sampling, rock sampling, geological mapping and photogrammetry, which are simultaneously underway at Copper Dome."

 

"We have a busy schedule ahead for the coming months, including expansion of the Double Event soil sampling towards the west into the Kookaburra tenement, initiation of exploration at Native Bee (part of the Lighthouse tenement) and mineralization modeling for both Plateau and Double Event in preparation for maiden resource estimates." 

 

 

Rockfire Resources plc

David Price, Chief Executive Officer

 

Email: [email protected]

 

 

 

Allenby Capital Limited (Nominated Adviser)

John Depasquale/ Asha Chotai

 

Tel: +44 (0) 20 3328 5656

 

First Equity Limited (Broker)

Tel: +44 (0)20 7374 2212

Jason Robertson

 

 


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 [email protected] or visit www.rns.com.
 
END
 
 
DRLKDLBLKLFLBBV

Rockfire Resources PLC Timeline

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use