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Rockfire Resources increases Copper Dome target

Published by
Global Mining Review,


Rockfire Resources plc, a gold and base metal exploration company, has announced that a helicopter-supported geophysical survey has returned a much larger target than originally thought at the company's 100%-owned Copper Dome porphyry copper project in North Queensland, Australia.

Highlights

  • A recent geophysical magnetic survey has resulted in high resolution images, with the magnetic data offering a detailed insight into the geology and structure beneath the dome, which had previously not been possible at Copper Dome.
  • The revised target, based on the new aeromagnetic signature, has increased significantly in area from 1 km x 2 km to a much larger area of 4 km x 3.5 km.
  • At least three separate intrusions are evident. With one intrusion having been historically drilled and copper found, this adds significant potential for the discovery of copper and gold associated with the additional two intrusions.
  • Previous drilling had focused on only one of the three intrusions. Shallow, historical drilling results include 15 m at 0.9 % copper (Cu), 12 m at 0.6 % Cu and 24 m at 0.3 % Cu. Only sporadic gold analysis was done, with a peak gold value of 1.86 g/t gold (Au) in drilling.
  • Abundant structures, including faults (and possibly veins) have been identified, providing a greater understanding of the structural setting for the emplacement of the porphyries.
  • A 3D interpretation has been commissioned to determine the characteristics of the magnetic response at depth.
  • Reverse circulation drilling is planned for Copper Dome and quotes are currently being obtained to establish access tracks and for drilling.

David Price, CEO of Rockfire, commented: "Management was looking forward to viewing the magnetic data from Copper Dome and we are very pleased to see the high definition being resolved in the imagery, indicating a significantly larger target than originally thought. What is particularly exciting is the identification of what appears to be multiple plumes intruding upwards towards the surface, with only one of these having been drill tested to date. Importantly, the surface geochemistry shows copper anomalism above or proximal to all three intrusions. This provides potential for a much larger mineralised system to be discovered.

"Rockfire has recently commissioned a 3D interpretation of the magnetic data. This interpretive work is expected to provide possible dips and plunges towards a source at depth and is designed to assist drill targeting at depth. We are eagerly awaiting the results of this work.

"In 1972, six diamond drill holes and three reverse circulation holes were drilled at Copper Dome and very promising copper and gold intervals were intersected. Some of these holes were terminated prematurely in mineralisation due to bad ground conditions, but results still indicated the potential for a very large mineralised system.

"Rockfire's field season for 2021 includes reverse circulation drilling at Copper Dome and a comprehensive programme is planned to test all three intrusions over the next 6 months. At this stage, 20 drill holes are planned and track access into the centre of the dome is currently being arranged. We look forward to updating the market when we receive the results of our 3D interpretation and at the commencement of our drilling programme at Copper Dome."

Read the article online at: https://www.globalminingreview.com/exploration-development/14042021/rockfire-resources-increases-copper-dome-target/

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This article has been tagged under the following:

Australian mining news Copper mining news Gold mining news