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Through its subsidiary, Sagittarius Mining Limited, Rockfire Resources holds one Exploration Licence on New Britain island (EL1462).

Most of the Exploration Licence is covered by dense, inaccessible, tropical rainforest, with patchy areas of secondary growth where logging and subsistence farming has been carried out. The central part of the main licence block is dominated by the rugged Whiteman Mountain ranges which have altitudes ranging from 200m to 1,830m above sea level at the highest point. Access to EL 1462 is difficult and in most instances, prospects can only be reached on foot or by helicopter.

Tripela (EL1462)

The Rockfire team has assembled a large database from previous exploration programmes on New Britain Island. A reinterpretation of all available geophysical, geological and geochemical data produced high priority targets.

Using the results of these studies, the Company embarked on a major field program in June 2010 to follow up and test a number of these targets. Our exploration teams completed widespread reconnaissance rock chip sampling, geological mapping and detailed, grid-based, geochemical soil sampling programmes.

More than 5,000 soil samples and more than 2,000 rock samples have been collected from within the tenement. During 2013, three holes were drilled on geophysical targets in the Mt Nakru area.

A surface sample of chalcopyrite was discovered on 2012 from within the Tripela area. Numerous occurrences of in situ copper and molybdenum mineralization, with grades up to 29.5% copper were returned from outcrop assays.

An initial drilling programme at Tripela was undertaken between January and May 2014. This drilling was designed to test for the presence of a porphyry. Seven (7) holes were completed during the initial phase of drilling. Phyllic and argillic alteration was recognized in most of the holes, with clay alteration exposed during drill pad preparation.

In June 2014, a follow-up drill programme was instigated to test for deeper porphyry bodies, which were interpreted from the shallower, vector drilling programme. Between August 2014 and March 2015, 7,000m of diamond drilling had been completed at Tripela, with an average depth of +950m.

Epidote alteration intersected in each drill hole, has started to define an inner propylitic alteration halo. Petrographic work has confirmed the host rock as a dioritic porphyry intrusion. Dr. Greg Corbett and Doug Menzies of CMC Consulting Pty Limited (“CMC”) visited Tripela in June 2014. The visit included core logging and the development of a geological model for the project.