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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 at the company's 100%-owned Copperhead porphyry project in North Queensland, Australia. Assay results for the second diamond drill hole are now available.

Highlights

  • Hole BCH002 is mineralised with visible copper veins for most of its length, with two distinct zones identified in the hole.
  • The length of the drill hole has returned 357 m grading 0.11 % copper equivalent (CuEq), with the drill hole finishing with visible copper in veins.
  • Within this broad zone, an upper interval of 48 m at 0.21% CuEq occurs from 139 m downhole depth and a second interval of 32 m at 0.2% CuEq exists from 236 m downhole depth.
  • A peak assay of 1.06% CuEq was encountered.
  • This second drill hole expands copper mineralisation 150 m towards the east and 150 m towards the south of hole BCH001, thereby increasing the footprint of the drilled area significantly.
  • Similar to hole BCH001, alteration and visible copper mineralisation in this hole suggests that the drilling is occurring in the upper, ‘Phyllic’ levels of a large porphyry copper system.
  • Drill core from hole BCH004 is now at the laboratory and assay results are pending. Hole BCH004 was drilled as an exploratory hole to the west of a regional fault to determine if copper mineralisation can be found on the western side of this bounding fault.
  • The company is awaiting assay results from holes BCH003 and BCH004, with BCH005 expected to be submitted for analysis shortly.
  • Weather conditions have prevented the drill rig moving to Plateau prior to the Christmas/New Year period, but management remains confident that this drilling will commence early in the New Year.

David Price, CEO of Rockfire, commented: “This drill hole continues to build our confidence in the potential for the discovery of a large-scale copper deposit. Although grade remains relatively low, the system continues to expand with each hole drilled. BCH002 was drilled towards the south – the opposite direction to hole BCH001. This direction was chosen to confirm that drilling to the north-northeast is appropriate and the structures measured in hole BCH002 confirm the original drilling direction is optimum.

“The visual indications of copper being present in hole BCH002 were not as prolific as the visible veins in hole BCH001. The continuation of grade over 350 m drilled length was greater than expected from observations. This may indicate fine-grained sulphides which are not easily recognised in veins or disseminations.

“Hole BCH002 remains in the high-level, quartz-sericite-pyrite alteration zone, sitting above a potential main porphyry source.

“The company is awaiting assay results from holes BCH003 and BCH004, which are both awaiting analysis at the laboratory. BCH005 is nearing the completion of geotechnical and geological logging and will be submitted within the next week. We look forward to providing the market with updated results as they are received from the laboratory.”

Read the article online at: https://www.globalminingreview.com/exploration-development/22122021/rockfire-resources-provides-copperhead-drilling-update/

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This article has been tagged under the following:

Australian mining news Copper mining news Gold mining news