Rockfire Resources plc, a gold and base metal exploration company, has announced results from 3D processing of helicopter magnetic data at the company's 100%-owned Copper Dome porphyry project in North Queensland, Australia.
- Two main targets have been highlighted, with both showing very strong magnetic responses, which are being interpreted as magnetite alteration – an important feature associated with many porphyry copper deposits.
- The targets commence approximately 500 m below surface.
- The larger target is 1.5 km long, 700 m wide and occurs between 400 m and 1.3 km deep and remains open beyond that depth.
- The smaller target is 900 m long, 250 m wide and occurs between 600 m and at least 1 km deep.
- Historical diamond drilling from 1972, directly above the targets, intersected typical porphyry grades including 88 m at 0.23% copper (Cu) and 75 m at 0.13% Cu, with most holes ending in copper mineralisation. Peak values from core sampling were 3.77% Cu and 1.8 g/t gold (Au).
- Alteration identified in core is primarily sericite/pyrite (+/- silica) phyllic alteration, suggesting that the current surface is at the upper-mid levels of a copper/gold porphyry system.
- Sulfides in core range from 3 – 15% pyrite, with associated chalcopyrite. Fluids are recorded in geological logs as being focused within porphyritic intrusions and breccias.
- Rockfire is preparing for drilling initially at the Copperhead porphyry copper project and intends to drill these new magnetic anomalies at Copper Dome also during this field season.
David Price, CEO of Rockfire, commented: "This 3D modelling has produced images of two very high-intensity magnetic responses beneath the dome. Both targets deepen towards the south, suggesting that the source may lie to the south. The closest they come to the surface is around 500 m depth, but historical drilling has hit copper much closer to surface.
"After nearly 50 years with no significant exploration at Copper Dome, Rockfire is planning to drill these new targets. With confirmed copper and gold close to surface directly above the targets and well-defined high magnetic targets at depth, these factors bode well for discovery.
"Rockfire is preparing for drilling at Copperhead initially and drilling at Copper Dome is also planned. The company will provide the market with regular updates on our progress as we work towards the start of drilling at our porphyry projects."
Read the article online at: https://www.globalminingreview.com/exploration-development/19052021/rockfire-resources-provides-copper-dome-3d-processing-results/