Drilling Program Complete – Sulphides Intersected

By September 19, 2018news

Rockfire Resources plc
(“ROCK” or “the Company”)
Drilling Program Complete – Sulphides Intersected

The Board of Rockfire Resources plc (LON: ROCK), is pleased to inform shareholders that its drilling program at the Marengo gold/copper project in Queensland, Australia has successfully been completed on time and budget. Drilling has encountered sulphides, including pyrite and chalcopyrite (copper sulphide). Visible chalcopyrite in a maiden drilling program is considered a great success and the Company is encouraged by the alteration and sulphide mineralisation intersected during this program.

  • Five RC holes drilled at Homeward Bound Prospect intersected quartz veining, alteration and sulphides, including pyrite and chalcopyrite. Sulphides occur up to 5% over isolated 1m intervals. These sulphide zones are typically surrounded by alteration and sulphide dissemination.
  • A single hole at the geophysical IP target at One Mile Mountain Prospect hosts up to a maximum of 1-2% pyrite over isolated 1m intervals, with only trace amounts of chalcopyrite observed;
  • A single hole at the geophysical target northeast of One Mile Mountain is altered by chlorite/epidote and hosts a broad zone of weak pyrite. No chalcopyrite was observed;
  • Two shallow holes drilled beneath the historical workings at “Albion” contained weathered iron oxides, which may represent weathered pyrite;
  • The samples have been delivered to the lab, and assay results are expected within the next 4 weeks.

 Chief Executive Officer of Rockfire, David Price commented:

“The Company continues to build the evidence behind selected targets in its quest for sizable deposits. 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.”

“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.”

Further Information

A link is provided below which shows photographs of the drilling and the sulphides in drill chips.

 

http://www.rns-pdf.londonstockexchange.com/rns/2234B_1-2018-9-19.pdf

The table below provides details of the drilling, including hole depths and locations. Assay results are awaited from the laboratory and the market will be updated once results are at hand.

Hole ID

East UTM

North UTM

UTM Zone

Azi MGA

Dip °

Elevation RL (m)

Final depth (m)

BMA001

609252

7755214

55 K

270

-55

152

245.00

BMA002

609328

7755506

55 K

000

-90

138

149.00

BMA003

608734

7754939

55 K

200

-57

150

52.00

BMA004

608753

7754932

55 K

200

-57

153

52.00

BMA005

610095

7755149

55 K

180

-60

135

100.00

BMA006

610007

7755035

55 K

210

-55

131

40.00

BMA007

610010

7755039

55 K

210

-70

130

101.00

BMA008

610024

7755033

55 K

210

-55

132

55.00

BMA009

610025

7755035

55 K

210

-70

132

100.00

BMA010

609990

7755044

55 K

210

-55

132

46.00

940.00

Table showing Marengo RC hole locations and collar information, September 2018

Competent Person Statement:

Information in this announcement that relates to exploration results is based on information compiled by Mr David Price, a Director of Rockfire Resources plc, who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr Price has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr Price consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears.

For further information on the Company, please visit www.rockfireresources.com or contact the following:

Rockfire Resources PLC

David Price, Chief Executive Officer

 

Email: david@rockfireresources.com

 

Cenkos Securities plc

(Nominated Adviser & Joint Broker)

Derrick Lee / Beth McKiernan

 

Tel: +44 (0)131 220 6939

 

First Equity Limited

(Joint Broker)

Tel: +44 (0)20 7374 2212

Jason Robertson