Rockfire Resources - Exploration Update
Rockfire Resources plc
("Rockfire" or the "Company")
Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to provide an update on field and related exploration activity for its portfolio of 100%-owned exploration projects in
· Geological and mineralisation modelling is in progress to update the JORC resource at the Plateau gold deposit ("Plateau"), within the Lighthouse tenement. This process will define resources for the broad, low-grade halo to the system, as well as the higher-grade gold component identified in drilling. Resources will be estimated for both the East Breccia and the Central Breccia, separated by 135 m, which is vastly under-explored. In 2019, Rockfire estimated a maiden JORC resource of 1,147,330 t @ 1.10 g/t Au for a total of 40,400 ounces of gold at Plateau. It is expected that the resource update will be released in the New Year and prior to the end of
· Structural and geological data obtained from diamond drilling between July and
· A gravity survey at Plateau, which was scheduled for the 2020 calendar year will now be undertaken in 2021, due to the unavailability of contractor equipment.
· A detailed soil sampling programme comprising 212 soil samples has been completed at Bell Rock gold prospect (formerly
· Detailed soil sampling has also been completed over the northern half of the
· Our planned helicopter-supported aeromagnetic survey is now underway at the Copperhead porphyry copper deposit ("Copperhead"). Copperhead has a 2 km x 3 km copper-in-soil anomaly, providing a very large tonnage target. There is an historical (non-JORC) mineral content estimate calculated from drilling in 1972 of 87,500 tonnes of copper. The survey currently being flown will aid in defining structural orientations, which is expected to highlight preferential fluid pathways for higher-grade copper. The outcomes from this survey, expected before the end of
· The Company is planning to seek expressions of interest from parties to establish a Farm-In and Joint Venture for the Marengo Project ("Marengo"). Marengo remains prospective, however, Rockfire management wishes to focus financial and human resources on Lighthouse, Copperhead and Copper Dome. Rockfire will seek to advance Marengo by bringing in a capable partner to explore on behalf of Rockfire.
An image showing the relative location of the two breccias at Plateau can be viewed via the following link. http://www.rns-pdf.londonstockexchange.com/rns/2796H_1-2020-12-2.pdf
"The Company remains strongly focused on organic exploration success and, as usual, Rockfire is extremely busy with its exploration efforts, with a large amount of on-going work across our various projects.
"Our programmes to advance Plateau and our regional prospects are underway and proceeding well. It is pleasing to have such high-quality exploration data available to us which was obtained from our diamond drilling at Plateau. This data will be used as the input to our resource update, as well as being used by our structural consultants to direct future drilling towards the higher grades of gold.
"Our resource modelling is well underway, which will result in an update of the JORC resources at Plateau. This work is also expected to identify areas requiring infill and step-out drilling for further resource expansion.
"While the Company's focus remains heavily on the advancement of Plateau, as previously outlined, we intend to continue to further progress our other assets in
For further information on the Company, please visit www.rockfireresources.com or contact the following:
Rockfire Resources plc:
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Allenby Capital Limited (Nominated Adviser & Broker)
Tel: +44 (0) 20 3328 5656
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Tel: +44 (0) 20 3004 9512
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