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Rockfire Resources successfully completes Marengo gold-copper drilling

“Drilling at Homeward Bound Prospect has been the stand-out performer of this drilling programme," said David Price, Rockfire chief executive.

Samples are being analysed

Rockfire Resources Plc (LON:ROCK) told investors that it has successfully completed its drill programme at the Marengo gold-copper project in Queensland, Australia.

It has encountered mineralisation including sulphides, as well as pyrite and chalcopyrite (copper sulphide).

The programme tested the Homeward Bound and One Mile Mountain areas and the exploration company described it as “a great success”.

“Drilling at Homeward Bound Prospect has been the stand-out performer of this drilling program. RC holes intersected several parallel, narrow veins containing both pyrite and chalcopyrite,” said David Price, Rockfire chief executive.

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He added: "The chalcopyrite mineralisation at Homeward Bound is high up in the geological profile and a large-scale system is possibly deeper, beneath the current level of drilling.

“There is significant mineralising fluid carrying pyrite and chalcopyrite, which is likely to have been introduced from deeper levels."

"The geophysical target at One Mile Mountain and the northeast chargeable anomaly are characterised by pyrite, with little chalcopyrite or other copper minerals being observed. Broad zones of sulphides in the form of pyrite have been recorded and will be sampled as part of the company's technical process."

Drilling details

A total of five reverse circulation drill holes were sunk at Homeward Bound finding quartz veining, alteration and sulphides.

One single hole at One Mile Mountain encountered pyrite in intervals, though only trace amounts of chalcopyrite were observed.

Another hole, northeast of One Mile Mountain unearthed a broad zone of weak pyrite but no chalcopyrite was observed.

Also, two shallower holes were drilled under historical workings and encountered weathered iron oxides, which the company said may represent weathered pyrite.

Samples from the drilling have now been sent to a lab, results can be expected in the next four weeks.

Quick facts: Rockfire Resources PLC

Price: 0.875 GBX

Market: LSE
Market Cap: £7.25 m

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