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Rockfire Resources provides Copperhead drilling update

Published by
Global Mining Review,


Rockfire Resources plc, a gold and base metal exploration company, has provided an update on its diamond drilling programme currently underway at the company's 100%-owned Copperhead porphyry project in North Queensland, Australia.

Highlights

  • More than 1200 veins containing chalcopyrite (copper) have been recorded in core from the first three holes.
  • Veins bearing copper and molybdenum sulfides have been encountered in all four holes completed to date.
  • Individual copper-bearing veins range in width from 1 mm – 2.5 cm and occur up to six veins per metre.
  • Classic quartz/sericite/pyrite (phyllic) alteration is associated with the copper-bearing veins in all holes, indicative of the upper levels of a porphyry system.
  • Geology and veining in the drill cores indicate that drilling is occurring within the upper levels above a large porphyry copper system. This is consistent with an opinion obtained from an expert in porphyry copper deposits regarding our current drilling.
  • The entire lengths of hole BCH001 (501.40 m) and BCH002 (359 m) have been submitted to the laboratory for analysis and results are pending.
  • Core logging is well advanced on hole BCH003. Logging of the core involves the measurement of an extreme number of copper-bearing veins. These measurements are essential in locating the source of the copper.
  • As a result of our increasing knowledge of the deposit, the fifth cored drill hole (BCH005), which is currently in progress will be the deepest hole drilled into the system to date.
  • On-going drilling is targeting the discovery of the main porphyry source as the company drills deeper into the mountain.

David Price, CEO of Rockfire, commented: “It is promising to see the vast quantity of quartz/sericite/pyrite/chalcopyrite veins in the core. These are critical components of porphyry geochemistry, indicating that the drilling is occurring within the upper levels of a large porphyry system. Copper being encountered in the drill holes has risen from depth, through fractures, from a large, mineralised porphyry lying beneath the current drilling depth.

“Until now, the core has been dominated by frequent quartz/sericite/pyrite/chalcopyrite (phyllic) veins in the first three drill holes. Hole BCH004 shows an increase in potassic alteration, including K-feldspar clay alteration, and zones of magnetite alteration. This is an excellent change in alteration and geochemistry which allows us to develop zonation models and provides the technical team with vectors towards potentially higher-grade parts of the porphyry system.

“With each hole drilled, our knowledge of the Copperhead porphyry system is increasing. Structural recordings of copper and molybdenum-bearing veins are providing information and vectors for planned future holes. We will continue to keep the market informed of our ongoing drilling.”

Read the article online at: https://www.globalminingreview.com/exploration-development/01112021/rockfire-resources-provides-copperhead-drilling-update/

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Australian mining news Copper mining news