Bell Rock soils display coincident Au/Cu anomaly

RNS Number : 8624N

Rockfire Resources PLC

03 February 2021

 

03 February 2021

Rockfire Resources plc

("Rockfire" or the "Company")

Soils display coincident Au/Cu anomaly at Bell Rock

Rockfire Resources plc (LON: ROCK), the gold and base metal exploration company, is pleased to announce the results of soil sampling at the Bell Rock Prospect within the Company's 100%-owned Lighthouse tenement in North Queensland, Australia.

Highlights:

· Bell Rock is located less than 4 km southeast of the Plateau Gold Deposit ("Plateau").

· A +300 m long and +100 m wide coincident gold/copper soil anomaly has been identified at Bell Rock.

· The highest gold-in-soil value is 1.7 g/t Au (1,700 ppb) and the highest copper-in-soil value is 605 ppm Cu.

· 16% of soil samples have returned assays above 0.1 g/t Au (100 ppb) gold and 58% of all samples returned copper above 100 ppm Cu.

· Coincident with the soil anomaly, previous rock sampling has recorded a maximum of 23.4 g/t Au and 0.14 % Cu (see Rockfire announcement dated 1 June 2020).

· Elevated gold and copper values extend beyond the limits of the survey area.

· Work planned during the next four months at Bell Rock includes ground magnetics, extensional soil sampling, additional rock sampling and geological mapping.

An image showing the soil sampling results for gold and copper can be viewed via the following link. 
http://www.rns-pdf.londonstockexchange.com/rns/8624N_1-2021-2-3.pdf

David Price, Chief Executive Officer of Rockfire, commented:

"I am pleased to announce these high gold-in-soil values from soil sampling at Bell Rock. It is not common to obtain a soil sample with a +1,000 ppb gold value, so we consider these to be remarkable values. The identification of such high soil anomalism within the Lighthouse tenement provides further evidence that Lighthouse is a highly endowed tenement located between multi-million-ounce operating gold mines.

I am particularly encouraged by the coincident copper, as Bell Rock may prove to be a gold/copper system, which is very different to that seen at Plateau (gold/silver). The size of the anomaly is also pleasing, being coherent over nearly 400 m in an east-west direction.

The prospect's proximity to Plateau means that as both projects advance, there is greater potential for shared infrastructure and logistics. Clearly however, this is very early-stage exploration with on-going steps required, including ground magnetics and detailed geological mapping to better understand the geological setting of Bell Rock.

The Company will continue to progress Bell Rock over the coming months towards a maiden drilling programme and will update the market with this progress in due course."

Qualified Person Statement:

Information in this announcement that relates to exploration results is based on information compiled by Mr Edward Fry, the Exploration Manager of Rockfire Resources plc, who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Fry 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 a "Qualified Person" in accordance with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr Fry 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:	[e-mail]
David Price, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser & Broker)	Tel: [phone]
John Depasquale / Asha Chotai (Corporate Finance) Matt Butlin / Guy McDougall (Equity Sales)
Yellow Jersey	[e-mail]
Sarah Hollins / Henry Wilkinson	Tel: [phone]

 

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