Rockfire Resources PLC (LON:ROCK)

Rockfire Resources PLC (LON:ROCK)


Share Price
0.75 p
Change
0 (0.00 %)
Market Cap
£3.24 m
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Rockfire Resources PLC RNS Release

Field Exploration Update


RNS Number : 6074W
Rockfire Resources PLC
18 April 2019
 

18 April 2019

Rockfire Resources plc

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

Field Exploration Update

 

Rockfire Resources plc (LON: ROCK), the precious and base metal-focused resource company, is pleased to provide the following update on its field-based exploration activities in Queensland, Australia.

 

Western Extension of the Double Event Prospect

 

Soil sampling has been completed on the western extension of the Double Event gold mineralised trend. Rockfire applied for the open ground licence to the west of Double Event in November 2017, which was subsequently granted by the Queensland Government in August 2018. This licence extends the prospectivity of Double Event by more than 1.5 kilometres towards the west. Gold mineralisation remains open to the east, west and at depth.

 

A total of 424 soil samples and 12 rock samples have been collected from the western extension of Double Event within the last few weeks of field work. Samples were collected 10m apart on lines 40m apart and the soil sampling covered an area of approximately 1km x 0.15km. Samples have been submitted to the laboratory for gold analysis and results are awaited.

 

Cardigan Dam Prospect (Part of the Lighthouse Tenement)

 

Soil sampling has also been completed at the Cardigan Dam Prospect which lies within the Lighthouse tenement, also in Queensland, Australia. Cardigan Dam was explored in 1990 by Esso Australia, Aberfoyle and CRA Exploration. At that time, an electromagnetic survey was undertaken which identified a conductive feature. Rock sampling by previous explorers returned results including 11.4g/t, 5.6g/t and 5.4g/t Au.

 

A total of 240 soil samples were recently collected 10m apart, along lines 40m apart, covering an area of approximately 0.5km x 0.75km. Samples have been submitted to the laboratory for gold analysis and results are awaited. Further announcements will be made in due course.

 

Copper Dome Prospect (Copper Dome Tenement - Option to Acquire)

Further soil sampling has now commenced at the Copper Dome Porphyry Copper Project in Central Queensland ("Copper Dome"), 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 Cu and the anomalism extends over the southern and western limits of the area surveyed in March. 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.

As announced on 26 November 2018, Rockfire has an option to acquire Copper Dome, which expires on 23 May 2019 (the "Option"). The soil sampling exploration program is on-going and results from this program will contribute towards a decision whether to exercise the Option.

 

For more information regarding Rockfire Resources, please contact:

 

Rockfire Resources plc

Email: [email protected]

David Price, Chief Executive Officer




Allenby Capital Limited (Nominated Adviser)

Tel: +44 (0) 20 33 285 656

John Depasquale/ Asha Chotai




First Equity Limited (Joint Broker)

Tel: +44 (0) 20 73 742 212

Jason Robertson




SI Capital (Joint Broker)

Tel: +44 (0) 1 483 413 500

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