Rockfire Resources plc, a gold and base metal exploration company, has provided an update on the exploration programme currently underway at its 100%-owned Copperhead porphyry project in North Queensland, Australia.
- Drilling of the first two exploration holes is complete and a third hole is currently in progress.
- Rockfire's geologists are logging abundant, narrow, mineralised veins throughout each hole, including veins hosting both copper and molybdenum minerals.
- Drillhole BCH001, the first hole, was drilled to 501.40 m and copper-bearing veins have been recorded from 8 m to the end of hole. Chalcopyrite (copper sulfide) veins are still being recorded at 500.87 m.
- Vein frequency varies through each hole, which is in line with expectations from historical drill holes at Copperhead. The frequency of veins bearing visible chalcopyrite fluctuates dramatically throughout the hole, with some sections recording < 1 vein/m and other sections hosting up to 8 veins/m.
- Multiple orientations of the copper-bearing veins are being recorded, with the majority (but not all) chalcopyrite veins striking west-northwest and northwest and dipping very steeply both northeast and southwest.
- At the bottom of hole BCH001, a weak increase in alteration magnetite is observed and is likely to be the cause of a weakly elevated magnetic response at depth.
- Geotechnical and geological logging is well advanced and core cutting and sampling is in progress. Rockfire will continue to update the market with our progress, including results as they are received for each hole.
David Price, CEO of Rockfire, commented: “Drilling at Copperhead is progressing well. The geology and mineralisation being observed in our first drillhole is in line with the geological logs from drilling in 1972. Assays are pending, however, so it would be premature to attempt to correlate copper grades with historical drilling.
“Even without knowledge of the grades yet, the presence of the copper sulfides throughout the hole and to a downhole depth of 500 m supports our belief for the potential of a large, mineralised porphyry copper/molybdenum system.
“As each hole is drilled, important geological and structural information is provided and our geologists are gaining a better understanding of the deposit. More than 980 veins have been recorded and measured in the first hole alone. This is critical for targeting the source of the copper-bearing veins, which is beneath our current drilling. Drilling remains in progress, with another 2 – 3 holes to be drilled over the coming months and, as usual, we will continue to keep the market informed of this ongoing work programme.”
Read the article online at: https://www.globalminingreview.com/exploration-development/28092021/rockfire-resources-provides-copperhead-drilling-update/
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