Rockfire Resources plc, a gold and base metal exploration company, has provided the following exploration update on the company's 100%-owned Lighthouse tenement in North Queensland, Australia.
Lighthouse - Bell Rock Gold Prospect
- 10 rock chip samples taken from Bell Rock (3.5 km southeast of Plateau) have returned high-grade gold results, including 9.9 g/t, 5.2 g/t, 5 g/t and 4.1 g/t gold (Au).
- Previous sampling by Rockfire in May 2020 returned gold-in-rock results up to 23.4 g/t Au and the recent sampling has extended this anomalism by a further 100 m in length, resulting in a total target length of 350 m.
- Soil sampling has since been completed to extend the anomalism towards the northeast and assay results are pending.
- High-resolution ground magnetics are currently underway at Bell Rock to highlight faults and other structures and to define drilling targets.
Lighthouse - Otway Copper Prospect
- 10 rock chip samples from a new copper prospect, Otway, which lies approximately 4.5 km northwest of Plateau, have returned highly anomalous results, including 0.25% copper (Cu) and 0.28% cobalt (Co).
- One rock sample has an elevated nickel value of 817 ppm nickel (Ni), whilst two other rock samples contain nickel above 100 pm Ni. There is an early suggestion that the mineralising system could potentially be a Cu, Ni, Co target, however further work is required to confirm this concept.
- Future work planned at Otway will include soil sampling to determine the extent of the mineralisation away from the mapped rock outcrops.
David Price, CEO of Rockfire, commented: "The receipt of multiple, highly encouraging rock sample results from Bell Rock, including one sample of 9.9 g/t Au and 21 g/t Ag is an exciting advancement of the prospect. The target remains open to the east and west and extension of the soil grid towards the northeast has recently been completed. Results are awaited from this soil sampling work.
"A new copper prospect within the Lighthouse tenement, called Otway, was identified from structural interpretation by Rockfire's geologists. This prospect lies approximately 4.5 km northwest of Plateau and has anomalous copper in historical stream sediment sample results. During Rockfire's first exploration visit to conduct mapping and sampling, one rock sample returned 0.25% copper and a highly unexpected result of 0.28% cobalt. Three other rock samples returned elevated copper above 300 ppm Cu. Further work is needed to understand the geology of this early-stage prospect.
"Rockfire is rapidly advancing its exploration at the Lighthouse tenement and results from our field season will be announced as work progresses."
Read the article online at: https://www.globalminingreview.com/exploration-development/31032021/rockfire-resources-announces-exploration-update/