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Rockfire Resources - Sampling underway to infill Double Event

RNS Number : 0341N
Rockfire Resources PLC
14 January 2019
 

 

14 January 2019

Rockfire Resources plc

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

Sampling underway to infill Double Event

 

Rockfire Resources plc (LON: ROCK), the Queensland copper and gold-focused resource company, announces that soil sampling is underway, ahead of schedule, in the field season at the Double Event Prospect, which forms part of the Lighthouse tenement. Sampling is designed to accurately pinpoint drilling targets in a 2.5km long zone, which lies between the two drilling programs completed during 2018.

 

·      The entire Double Event vein structure is 4.5km long, with only 800m of this system tested so far by Rockfire;

 

·      Drilling on this structure in 2018 returned 3m @ 10.04 g/t Au (from 27m), 3m @ 2.94 g/t Au (from 15m), 2m @ 3.17g/t Au (from 13m) and 4m @ 1.81 g/t Au (from 16m);

 

·    Gold was intersected in nearly all holes in the two drilling campaigns, with one hole being terminated after drilling into an historical mine shaft at 18m depth;

 

·    Several holes intersected gold over the licence boundary and inside the Kookaburra Licence, resulting in a 1.5km extension of the vein system strike length;

 

 

Chief Executive Officer of Rockfire, David Price, commented:

 

"Our exploration schedule for 2019 has started early, with soil sampling underway at Double Event. The wet season is still upon us in northern Australia, however access currently remains possible, so we are making the most of this opportunity."

 

"Other exploration programs are being scheduled and a standard Conduct and Compensation Agreement is currently being arranged with the landowner of 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."

 

"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."

 

 

 

Rockfire Resources plc

David Price, Chief Executive Officer

 

Email: [email protected]

 

 

 

Allenby Capital Limited (Nominated Adviser)

John Depasquale/Nick Athanas/Asha Chotai

 

Tel: +44 (0) 20 3328 5656

 

First Equity Limited (Broker)

Tel: +44 (0)20 7374 2212

Jason Robertson

 

 


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